Mondaq India: Tax
S.S. Rana & Co. Advocates
E-commerce Operators and their suppliers have been granted a welcome relief by the Central Government with the Ministry of Finance issuing a public statement on June 26, 2017...
SKP Business Consulting LLP
With the introduction of GST today, the regulatory body of indirect taxes, the Central Board of Excise and Customs (CBEC) has issued certain important notifications.
SKP Business Consulting LLP
With the implementation of GST and in order to smoothen the transportation of goods for interstate transactions, 20 States and 2 Union territories have abolished the check post system...
SKP Business Consulting LLP
With GST being finally implemented, the government has brought into force certain notifications.
Nishith Desai Associates
India recently signed a multilateral treaty, in furtherance of the BEPS project, which is likely to have huge ramifications for businesses operating in India and foreign investors that seek to avail tax benefits ...
S.S. Rana & Co. Advocates
The Anti-Profiteering Rules, 2017 (Rules) were recently notified by the Central Government in exercise of its powers under section 164 read with section 171 of the Central Goods and Services Tax Act, 2017.
S.S. Rana & Co. Advocates
On July 04, 2017, the Ministry of Consumer Affairs, Food and Public Distribution issued a notification numbered, WM-10(31)/2017 to the Controllers of Legal Metrology in all States and Union Territories, ...
Krishnomics Legal
In order to serve the nation and the community, we are putting our views on various vexed issued on GST.
Khaitan & Co
Currently, Income Tax Act, 1961 (IT Act) provides for imputing income in the hands of the transferor/transferee if the transaction of transfer/receipt of unquoted shares is not at fair market value (FMV).
Seth Dua & Associates
In the above case, the taxpayer had acquired various tangible and intangible assets through an asset purchase agreement and claimed depreciation on payment for non-compete fees.
SKP Business Consulting LLP
With the date for the implementation of the Goods and Services Tax (GST) less than 100 hours away...
SKP Business Consulting LLP
The CBDT has taken a huge leap towards transparency in its tax administration by announcing that the communication between the taxpayer and tax authorities in relation to Scrutiny Assessments...
SKP Business Consulting LLP
Import and export-related transactions come within the purview of the Customs Act, 1962, Chapter V of the Finance Act, 1994 and Foreign Trade Policy, 2015-2020 (FTP 2015 - 2020).
Khaitan & Co
In October 2015, the Central Board of Direct Taxes (CBDT) initiated a pilot project on the concept of using emails to correspond with tax payers at the time of scrutiny assessments.
SKP Business Consulting LLP
As per the Income Tax Act, 1961 (Act), the definition of dividend broadly includes any payment of 'advance' or 'loan' by a closely held company...
SKP Business Consulting LLP
The GST Council in its meeting on 18 June 2017 finalised rules relating to the following
SKP Business Consulting LLP
The GST Council in its meeting on 18 June 2017 has taken the following decisions.
Khaitan & Co
With an object to address aggressive tax strategies by multinational enterprises (MNE), the Organisation for Economic Cooperation and Development (OECD) had undertaken the landmark Base Erosion and Profit Shifting (BEPS) Project.
Khaitan & Co
Finance Act 2016 replaced the test for corporate residency of foreign companies from "control and management being situated wholly in India" to "place of effective management (POEM) in India".
SKP Business Consulting LLP
The GST Council in its meeting on 11 June 2017 has taken the following decisions with respect to the accounts and records and registration Rules...
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The implementation of GST will significantly improve the competitiveness and performance of India's manufacturing sector.
Nangia & Co
GST, which is considered as biggest tax reform since 1947 which seeks to replace a slew of taxes and levies in 29 states and aims to simplify and harmonise the indirect tax regime in the country.
Khaitan & Co
Some interesting issues that have been clarified in the FAQs are briefly dealt with below.
SKP Business Consulting LLP
The Maharashtra Budget for the year 2017-2018 was presented by the Finance Minister (FM) of Maharashtra on 18 March 2017.
With increased globalization and the growth of information technology, the import of technical know-how, acquisition of software and technical services is not very uncommon in developing economies like ours.
SKP Business Consulting LLP
The GST Council in its meeting in Srinagar on 19 May 2017 has considered and finalised GST rates to be applicable for different types of services.
Rajani Associates
If the control and management of the underlying business is being transferred along with the transfer of the shares of the unlisted entity.
Singhania & Partners LLP, Solicitors and Advocates
The Goods and Services tax unifies the Indian market for goods and services into a single market with a common tax code and hopefully a single rate (18 % RNR) on a pan India basis.
Singh & Associates
Vide Finance Bill 2016, the Government has introduced presumptive taxation scheme for the persons earning professional income.
Khaitan & Co
The Finance Bill, 2017 which was presented by the Finance Minister in the Indian Parliament on 1 February 2017 (Original Bill) has been amended by the Lok Sabha (Amended Bill).
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