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GST - Old order changeth yielding place to new


By Dr. G. Gokul Kishore

As I sit down to type this article with the famed saying of Alfred Tennyson, despite the hectic schedule of GST assistance to  the industry, both types of feelings gush – on the one side sadness creeps as the Central Excise as we know and we grew up with is going to be part of history . On the other side, India ...

India-EU free trade agreement: State of play and way forward


By Edouard Descotis

India and the European Union (EU) have been negotiating a bilateral free trade agreement known as the Broad-based Trade and Investment Agreement (BTIA) since 2007. The negotiations cover a wide range of topics including tariff reductions, market access for services, intellectual property rights and investments. The last round ...

Business expenses of pharma companies – A regulatory hurdle


By Sumeet Khurana

Background

Pharmaceutical companies incur huge expenses in launching and promoting their products by way of gifts to medical professionals, holding conferences and distribution of promotional material. Tax deductibility of such expenses has been a contentious issue in certain recent trib...

Disallowance for non-deduction of TDS - Supreme Court interprets ’amount payable’


By Gayatri Sridharan

The Honorable Supreme Court of India in a recent Judgment in the case of Palam Gas Agencies ltd.  set at rest a controversy which had been raging in the Income Tax circles from 2012. The moot question before the Hon’ble Supreme Court was whether the expression “payable” used in Section 40(a)(ia...

GST liability on transfer/disposal of assets in lieu of tax liability


By Manoj Gupta

European Union’s Court of Justice has recently (on 11th May, 2017) held that transfer of tangible property to the State Treasury in settlement of arrears of taxes constituting State Budget revenues is a transaction that is not subject to VAT. The judgement though deals with transfer of immovable property, and such ...

Confidentiality in anti-dumping investigations: Supreme Court interprets Rule 7


By Ankur Sharma

A key feature of anti-dumping investigations is the protection available to commercially sensitive information that interested parties provide to an investigating authority.  The idea is that such sensitive information should remain in the safe hands of the authority and must not fall in the hands of opposing parties, who may...

E-Way Bill – Taking GST on digital highway


By Krithika Jaganathan

The concept of way bill and the requirement for every consignment of goods being moved to be accompanied by a way bill (besides other documents) has been retained under the GST regime, albeit electronically. Amidst news reports raising concern over how it would perpetuate the existing issues plaguing the system eve...

Applicability of GST on GTA


By Ekansh Agrawal

The Final GST Act is here, still many issues lack clarity and could result in disputes with the tax authority, owing to different interpretations and views between businesses and the department. This article seeks to highlight some of the significant issues pertaining to registration by a GTA, as set out in the CGST Act and Draf...

GAAR – An Indian-Asian Narrative


By Amar Gahlot

Taxes are mandatory and necessary. Opinion, however, has been divided on the issue that whether taxes are avoidable? The famed Ramsay judgment held that taxes are not avoidable. Tax avoidance was thence made illegal. However, with Macniven, the law changed and tax avoidance, as long as it remai...

Brexit: Invalidation of existing trade remedy measures in the EU


By Bhargav Mansatta

With the UK parliament passing the Brexit Bill on 14th of March 2017 paving the way for the government to trigger Article 50 of the EU Treaty (which allows the UK to begin the process to exit from the European Union), Brexit may now only be a matter of time.

Among the plethora of trade related issues ...

Finance Bill, 2017 – A look at further amendments

 
By Subhashree & Shashank Sharma

This year’s Budget was different in many ways. While the Finance Minister opted to present it on 1st February and departed from the decades-old tradition of presenting it on the last day of February, it also saw the merger of the rail budget alongside. The changes in this budget hav...

GST - Credit entitlement on free samples


By Ekansh Agrawal

In the past year our country has witnessed some bold decisions taken by the Government, one of which was passing of 101st Amendment Act to the Constitution paving the way for Goods and Services Tax Act (GST). At the time of writing this article, the revised Model GST law issued in November, 2016 remains in draft form and is...

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