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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...

Liaison Office as PE under India-US DTAA

By Tanmay Bhatnagar

A liaison office is defined under the Foreign Exchange Regulations as a place of business, which is meant to merely act as a channel of communication between the Head Office and other entities in India. Such liaison office is not supposed to undertake any commercial /trading/ industrial activity and does not have any independe...

Treatment of value of moulds & tools in GST regime

By  Astha Sinha, Nivedita Agarwal & Nirav Karia
The issue of inclusion or otherwise of amortised value of tools and moulds in the supplies made by contract manufacturers and job workers has once again been raked up after the advent of the GST regime. This article aims to analyse the difficulties faced by the contract manufacturing ...

Inverted duty structure in exports – Perplexity in refund

By  Chaitanya R. Bhatt & Saurabh Malpani
The GST regime adopted by India is a uniform system which follows multi-rate tax structure due to socio-economic considerations. Such structure gives rise to a situation of “inverted duty / tax structure” wherein the rate of tax on procurements / inward supplies is higher th...

Rule 22 and jurisprudence: Duty margins for new shippers in case of sampling in original investigation

By Greetika Francis

Rule 22 of the Indian Anti-Dumping Rules provides that the Authority shall carry out a new shipper review to determine individual margin of dumping for a new producer or exporter if (i) the producer or exporter has not exported the product to India during the period of original investigation and (ii) the exporter or producer i...

Conversion of company to LLP - Capital gains tax implications

By Prerana Priyanshu

In the past few years, the corporate landscape has witnessed de-corporatisation of many companies, perhaps, because of the regulatory burden imposed on them under the erstwhile and present company laws. With the enactment of the Limited Liability Partnership Act, 2008, a viable option for such de-corporatising entities is to convert ...

Liaison office in India – The GST connection

By Nirali Akhani

A foreign company/ investor intending to expand business in India can do so by opening a branch office, project office, etc., or by establishing a liaison office in India among various other options. However, if the foreign company/investor is entering the Indian market for the first time, they would want an establishment that is not onl...

Denial of ITC for non-possession of e-way bill - An unfounded proposition

By Nirav S. Karia & Nivedita Agarwal

The Goods and Services Tax, the government’s most ambitious project and tax reform, is largely dependent on deployment of right technology and infrastructure for successful implementation. The introduction of the e-way bill system is a major gamechanger in this aspect. It is aimed at aiding seamless movement...

Reversal of credit on write-off under GST – Open issues

By Nirav S. Karia & Nivedita Agarwal

“Haste is of the devil” is a phrase that applies aptly to drafting of new legislations in haste which usually gives way to misinterpretation, lack of clarity, and challenges as to validity delaying the successful implementation of the statutes. The Goods and Services Ta...

Privity of contract and locus with a source of income – A test of diversion by overriding title

By Prachi Goel & Saurav Sood

The manufacturing business can be undertaken either on own account or by way of a job work. In case the job work is chosen as an option, the manufacturer absolves itself from the whole or any part of the activities required to be undertaken. In a recent case of Pr. CIT v. Chamundi Winery and D...

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