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Majmudar & Partners
In the Air India Limited case, the Delhi High Court has, once again, reiterated that for payments made by an Indian tax resident to a non-resident, the Indian payor will be correct in applying the withholding tax rate ...
Phoenix Legal
The Government of India vide Circular No. - 178/10/2022 – GST dated 3rd August, 2022 clarified the applicability of GST on payments, which are typically penal in nature and arise out of a breach of contract or otherwise.
Economic Laws Practice
The Government of India has issued the much-awaited clarification (vide Circular No. 178/10/2022- GST dated 3rd August 2022) on what could get covered as a ‘supply' under the entry...
Khaitan & Co LLP
Taxability of payments made under contractual obligations like non-compete fees, early termination charges, liquidated damages, notice pay payments by employees, cancellation charges...
Economic Laws Practice
On 3 August 2022, the Department of Revenue, Ministry of Finance issued its clarificatory Circular No. 178/10/2022-GST which primarily addresses the taxability of liquidated damages and penalty.
Economic Laws Practice
Despite GST completing half a decade of its existence, its implementation is still plagued by many issues including disputes regarding transitional credit.
Khaitan & Co LLP
Amongst the myriad representations placed before the Goods and Service Tax Council (GST Council) for consideration in their 47th meeting,...
Spaviatech Law
The "Digital Services Tax" is a levy on the overall revenues earned by the supplier of specific digital services.
Khaitan & Co LLP
The Supreme Court, in an order dated 22 July 2022, has decided a batch of nearly four hundred petitions and has directed opening of the Goods and Services Tax (GST) portal...
Khaitan & Co LLP
Amongst the myriad representations placed before the Goods and Service Tax Council (GST Council) for consideration in their 47th meeting,...
IndusLaw
The Supreme Court's landmark judgement1 has directed the Government to allow Transition Form-1 ("TRAN-1") and Transition Form-2 ("TRAN-2") filing for a period upto two months between September, 2022 and...
Majmudar & Partners
Recognizing the prevalence of flexible hybrid working models and taking into account industry demands, the Ministry of Commerce and Industry, Government of India...
Majmudar & Partners
On the occasion of Income Tax Day, the firm's tax team, headed by Ravi S. Raghavan, has compiled noteworthy tax law changes and happenings over the last year.
Economic Laws Practice
Vide Indian Union Budget of 2022 a new tax regime has been introduced for taxing Virtual Digital Assets ("VDA") in India with effect 1st April 2022.
Economic Laws Practice
Ordinarily, the phenomenon of taxation involves payment of tax at lower rates on the inputs and a relatively higher rate of tax on the final product / output.
S.S. Rana & Co. Advocates
With concerns rising over the recent GST slab rates revision, set to come into effect from July 18, thereby yet again increasing prices on several items for consumers already crippled by inflation, yet another GST revision looks set to be on the cards.
Economic Laws Practice
CBIC, vide Notification No. 10/2022-Central Tax dated July 05, 2022, exempts taxpayers having aggregate turnover up to INR 2 crores from filing annual return in Form GSTR-9/9A for the Financial Year 2021-22.
Phoenix Legal
The Karnataka High Court (HC), in the case of Flipkart Internet Private Limited (Flipkart India/ taxpayer) v. Deputy Commissioner of Income Tax, considered whether tax should be deducted at...
IndusLaw
Amidst the five year completion of the Goods and Services Tax ("GST") regime in India, the GST Council ("Council") held its 47th Meeting on June 28, 2022 and June 29, 2022 in...
Resolut Partners
The income tax department has held that interest income derived from non-convertible debentures (NCDs) was ‘fictious' in nature and had not been appropriately offered to tax.
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