Implication of amalgamation on assessment proceedings
By Sumeet Khurana
A company is a juristic personality which not only comes into existence by operation of law but its cessation also takes place by operation of law. Section 170 of the Income Tax Act, 1961 deals with cases of succession in general and can be applied to succession of companies by way of amalgamation. It provides that in a case where...
Input Tax Credit under GST regime – Make it seamless
By Amutha Balasubramanian
The new Goods and Services Tax (GST) is a comprehensive indirect tax on manufacture, sale and consumption of goods and services across India. GST is a destination-based, value added taxation system. GST will be a dual levy in India and the eligible transactions will be subject to levy of both CGST and SGST in the case of...
GST – A look at certain grey areas in transition provisions
By Geetika Srivastava
The date of implementation of Goods & Services Tax (GST) is now certain and from 1st April, 2017, India will enter the new indirect tax regime bringing great deal of uniformity and robustness which will impact every business and industry. This leaves the industry with just a few months to prepare for the trans...
Do taxes cloud the novelty of SARs?
By Bharathi Krishnaprasad
Comparison between Stock Appreciation Rights and Employee Stock Option Plans
Conceptually different from the Employee Stock Option Plan a.k.a ESOP, a household term in India, Stock Appreciation Rights, also known as SARs are a novel way of rewarding the employees of an or...
Targeted dumping: An examination
By Prianka Mohan
Targeted dumping is dumping that is targeted at a certain purchaser, region or time period. The law permits the use of an alternative methodology for computation of the dumping margin if there is targeted dumping. The legal provisions relating to targeted dumping are set forth in Article 2.4.2 of the Agreement on Implementation o...
GST – A look at draft rules on registration and invoices
By Dr. G. Gokul Kishore
India is on the expressway in implementing the biggest reform ever in its indirect tax system. Till July, possibility of implementation of Goods & Services Tax (GST) was perceived as riddled with uncertainty but the Indian political parties have come together and ensured that the Indian Constitution stands amended to p...
Spending less than ALP can also have adverse implication
By Sumeet Khurana
A person resident of India under the Income-tax Act, 1961 (‘the IT Act’) is liable to tax in India on his global income [see end note 1]. The resident, when transacting with its Associated Enterprise (AE) is obliged to offer to tax, the income arising
Application of lesser duty rule in anti-dumping investigations
By Edouard Descotis
The Agreement on the Implementation of Article VI of the General Agreement on Tariffs and Trade (the “WTO Anti-Dumping Agreement”) provides that anti-dumping duties can be imposed on dumped imports that cause injury to the domestic industry. It also provides guidance to determine the level of remedy which, in any c...
Tax bonanza for Telecom companies?
By Sumeet Khurana
Honourable Delhi High Court in a recent decision [see End Note No. 1] has held that the deduction under Section 80-IA(2A) for telecommunication companies is also available with respect to various ancillary income such as liquidated damages, interest, sale of directories and extra-ordina...
GST – Designing a compliance friendly regime
By Iype Mathew
India is now poised to introduce its biggest indirect taxes reform by launching the Goods and Services Tax regime. GST when introduced will usher in a nationwide common market which is expected to be less intrusive, compliance friendly, and self-policing in nature. The passage o...
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