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Draft guidelines for determination of PoEM - A incongruous note to an intended harmonious provision?

By Karanjot Singh

Section 6(3) of the Income Tax Act, 1961 (‘Act’) has been amended vide Finance Act, 2015 to introduce the concept of Place of Effective Management (‘PoEM’) to determine residential status of companies. Memorandum to Finance Bill, 2015 provided that the amendment has been brought to align the provisions of the Act...

‘Place of removal’ – The debate continues

By Vipul Agrawal & G. Gokul Kishore

Central Excise law, after six decades of its existence, is expected to yield its place to the Goods & Service Tax (GST) shortly but it continues to evolve even today. Determination of ‘place of removal’ for the purpose of inclusion of freight and insurance charges in assessable value, under Central ...

Initiation of investigation: Issue of cumulation

By Atul Gupta

Article 5 of WTO:ADA provides for initiation and subsequent investigation. Clause (ii) of Article 5.2 provides that the application shall contain the information relating to the names of the country or countries of origin or export in question. Article 5.4 prohibits initiation of an Anti-dumping Duty investigation unless the Investigating A...

Swachh Bharat Cess – Certain issues

By Sharanya Mishra and Yogendra Aldak

Swachh Bharat Cess (“SBC”) proposed at the “rate of 2% on all or any services” in Budget Speech on 28th February 2015, was notified vide Notification No. 21/2015-ST and Notification No. 22/2015-ST both dated 6th November 2015 for imposition from 15th November 2015 onwards “just ...

Situs of IP for taxing rights

By Lakshmi Pavan

The penetration of digitalization in every sector of the economy is a challenge from taxation perspective. Given the global nature of operations, it is possible for multi-national enterprises (MNEs) fragment their production and supply chain across various low tax jurisdictions. They park and manage the Intellectual Property (‘IP’) in...

Countervailing duty laws in India

 By Radhika Sharma

India has finally opened its account by concluding its first Countervailing Duty (“CVD”) investigation with the issuance of the final findings [see end note 1] in the CVD investigation concerning “Castings for Wind Operated Electricity Generators” from China PR. However, this has brought to light the fact t...

Section 197 certificate is not proving to be good enough?

By Sumeet Khurana

Purpose of section 197

Provisions relating to deduction of tax at source (‘TDS’) do offer the government a good tool of efficient tax recovery but unless counterbalanced with a measure like Section 197, can become a weapon of oppression.  Thus, to ensure that taxpayers who don&rs...

Valuation of composite goods under VAT laws

By  Aayush Singla

In the case of State of Punjab v. Nokia India Pvt Ltd (2014-VIL-23-SC), the Supreme Court held that battery charger of a cell phone is not a composite part of the cell phone but only an accessory and is an independent product. Hence, battery chargers sold along with cell phones were held to be assessable ...

Date of expiry of definitive anti-dumping duty

By Atul Gupta

It is a debatable issue from which date the period of 5 years should be reckoned for determining the date on which imposition of definitive anti-dumping duty would expire, if no sunset review is conducted before such expiry (Article 11.3 of WTO: ADA).  This debate assumed significance in respect of Indian practice after the delivery of...

Month-end Provisions and Reversal – Is TDS called for?

By Rajat Juneja

Problem Statement

Multi-national enterprises (MNEs) do make monthly provision for various expenses in their ERP system at the end of each month. This might be a nearer approximation of the expenditure to be incurred. It is a method of generating a debit entry in the accounting system for an expendi...

Does GST continue with distortions of existing tax structure?

By   V. Sivasubramanian

Besides being a source of funding of public expenditure, taxes also enable influencing expenditure patterns thereby distorting individual behavior. Indirect taxes distort expenditures primarily by affecting the price of consumption goods. In India, the existing indirect tax system has become extremely distortionary with ...

Consistency between Indian Domestic Law and WTO: ADA to be maintained

By Atul Gupta

Article II of the GATT, 1994 provides that a Member country shall follow MFN principle. Article II.2 provides for exception to the MFN principles. One of such exception permits imposition of Anti-dumping Duty in terms of Article VI of the GATT, 1994. Article VI of GATT 1994 provides for imposition of Anti-dumping Duty on fulfilment of certa...

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