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Prosecution under Section 276C of Income-tax Act, 1961 – An Overview

By  Ravi Sawana


The mechanism for enforcing tax compliances under the Income-tax Act, 1961 (‘the Act’) is provided by way of three pillars vis-à-vis imposition of interests, imposition of penalties, and prosecutions. Chapter XXI...

Expenses incurred on CSR - Not so GST friendly?

By  Koushal Sonthalia

One of the major advantages under the GST regime is the unlocking of tax credits, a lot of which was not available in the erstwhile Indirect tax regime. While the earlier legislations imposed numerous restrictions on credits, such conditions are now a lot relaxed with Sectio...

All is fair in trade and war – Panel Ruling on interpretation of security exceptions in Russia-Traffic in Transit

By  Jayant Raghu Ram


On 05th April 2019, the WTO circulated the Panel report in Russia – Traffic in Transit (DS512), a dispute which was initiated by Ukraine against Russia. In its complaint, Ukraine challenged various transit restrictions imposed by Russia for g...

US withdrawal of GSP benefits for India

Bhargav Mansatta 

Generalised System of Preferences (GSP) means a mechanism by which imports from developing countries are subject to lower tariffs in the importing country. This system has been implemented by the developed countries such as Canada, EU, US, Australia, Japan, Iceland and Switzerland. The Enabling Clause permitting im...

Dichotomy between Gross and Net amount - Analysis of Vijay Industries Judgment

By  Mahendra Singh

The Income-tax Act, 1961, under Chapter VI-A, provides for certain special deductions. These special deductions have been subject matter of litigation all along. One such provision is Section 80HH, which provides for deduction in respect of profits and gains from newly es...

Burden of unified registrations for EOUs and DTA units

By Anupama Ravindran

This article intends to highlight certain issues with regard to restrictions on refund of integrated tax paid on exports, for multiple business units having a single GST registration.

Section 54 of the CGST Act states that any person claiming refund of any tax may make an application before the expiry of two ye...

Breaking the credit chain – An avenue to boost revenue?

By Brijesh Kothary

The Goods and Services Tax Council, in its 34th meeting held on 19-3-2019 recommended certain measures to streamline implementation of lower effective rates of GST for real estate sector. In its previous meeting, the GST Council recommended that from 1-4-2019, the effective tax rate of tax for affordable housing properties woul...

Analysis of “Material Retardation”: A WTO jurisprudential perspective on DGTR’s recent findings

By Greetika Francis

            The Directorate General of Trade Remedies (DGTR) in India has had scant opportunity to address situations of injury in the form of “material retardation to the establishment of an industry”. In fact, since 1995, there have been less than twenty investigatio...

Revision of returns & forms – Need for amendments

By Nipun Arora

GST is about to complete twenty months since implementation. Initially, it was expected that it will take an approximate time-period of two years for the industry to fully comprehend GST and be compliant with the provisions of GST law. However, it seems that more than the industry, tax administration appears to be lagging behind. Various ...

Liability to pay interest – An interesting interpretation

By  Rahul Jain & Rohan Muralidharan

Under the GST regime, the rate of interest levied for failure on the part of the assessee to pay the tax within the due date is a staggering 18% as opposed to interest on delayed refunds at 6%. The issue which arises for consideration in the present article is whether interest is required to be paid on...

Taxes on Online Gaming: Resolving the TDS Anagram

By Neha Sharma

Online gaming combines both traditional as well as innovative games, in which players or users are engaged by the portals/ operators using technology and internet. Though online gaming and offline/ live versions have significant functional equivalence in the manner in which the game is played, the challenges in tax laws are slightl...

Manual of Operating Practices for trade remedy investigations - A step towards transparency

By  Neeraj Chhabra

In a significant step towards transparency, the Directorate General of Trade Remedies (“DGTR”) has recently issued Manual of Operating Practices (“manual”) for trade remedy investigations and Handbook of Operating Procedures (“handbook”) of Trade Defence Wing.

After an ame...

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