Law 360

FEBRUARY 1, 2024

India plans to allow its reduced corporate income tax rate for manufacturing facilities to sunset in April in an unexpected move, while seeking extensions to tax holidays for startups and sovereign wealth funds, attorneys told Law360 on Thursday about the government's interim budget.

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LexForti

APRIL 26, 2021

In the recent case of ITAT, the tribunal held that the exemption cannot be disallowed under India-Austria Double Taxation Avoidance Agreement (DTAA) only for want of Tax residency certificate. 31,11, 185/- and therefore, it was observed the employer of the petitioner had deducted the tax at source of Rs. 10,04,580/-.

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JURIST

NOVEMBER 14, 2023

Years of high spending and a declining tax base have led to large budget deficits and debt levels. Getting an IMF bailout has been delayed due to negotiations over Sri Lankan debt held by China and India. Sri Lanka has been facing a major political and economic crisis, which peaked in 2019 and was brought on by several factors.

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JURIST

JANUARY 21, 2022

The paper also takes note of measures taken or planned by China , India and Iran to ban the use or mining of cryptocurrencies, as well as the wary response by G7 countries to Facebook’s cryptocurrency Libra in late 2020.

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Mondaq

OCTOBER 16, 2021

The advent of GST has brought about a paradigm shift in various concepts in indirect tax regime in India, one of the major being the incidence of tax i.e. ‘supply'.

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JURIST

JANUARY 4, 2023

A Constitution Bench of the India Supreme Court Tuesday ruled that fundamental rights under Articles 19 and 21 of the India Constitution are enforceable against even private individuals and entities. Article 19 pertains to freedom of speech rights while Article 21 has to do with life and liberty under the process of law.

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JURIST

OCTOBER 12, 2021

A group of Indian app developers and start-ups, the Alliance of Digital India Foundation (ADIF), on Monday filed a petition before the Competition Commission of India (CCI) against Google’s new billing policy which is expected to come into effect in March 2022. The controversy is not limited to India.

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JURIST

JUNE 6, 2021

The G7 countries announced Saturday an agreement establishing a 15 percent global tax rate on large multinational corporations. The US has assessed taxes on internet companies’ activities in European countries. The US recently imposed, and immediately suspended, tariffs on several countries for new digital services taxes.

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Mondaq

FEBRUARY 3, 2022

The Finance Bill, 2022 (Bill) has not proposed any changes in the base tax rates and the income slabs under the Income-tax Act, 1961 (Tax Act).

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JURIST

AUGUST 12, 2021

The upper house of the Indian parliament ( Rajya Sabha ) on Monday approved The Taxation Laws Amendment Bill (“tax bill”) aiming to end all retrospective taxation imposed on indirect transfer of assets in India. Thus, Rajya Sabha has very limited powers in cases involving taxation or tax laws.

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Mondaq

AUGUST 11, 2021

Corporate Tax Comparative Guide for the jurisdiction of India, check out our comparative guides section to compare across multiple countries

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JURIST

MARCH 2, 2023

The Supreme Court of India Thursday ordered the investigation into the Adani Group in the matter of Vishal Tiwari v Union of India and Others following an accusation of business malpractice. It further alleges that the Adani Group improperly uses offshore tax havens, as well as participates in alleged stock manipulation.

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Mondaq

OCTOBER 3, 2021

Indian parliament proposes not to levy taxes on indirect transfers (i.e. transfer of shares of a foreign company deriving substantial value from assets in India) undertaken prior to May 28, 2012.

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Mondaq

JANUARY 13, 2022

We are pleased to present the latest edition of Tax Street – our newsletter that covers all the key developments and updates in the realm of taxation in India and across the globe for the month of November 2021.

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Mondaq

SEPTEMBER 20, 2021

We are pleased to present the latest edition of Tax Street – our newsletter that covers all the key developments and updates in the realm of taxation in India and across the globe for the month of August 2021.

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JURIST

MARCH 22, 2024

India’s largest political party in opposition, the Indian National Congress (INC), claimed that the Indian Income Tax (IT) Department froze their bank accounts on Thursday over alleged discrepancies from assessment years from as early as 1994-95. There is no democracy in India today. We cannot do our campaign work.

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JURIST

DECEMBER 29, 2023

The Enforcement Directorate of India (ED) stated Tuesday that it has filed a supplementary prosecution complaint incorporating allegations against Robert Vadra. Vadra is the spouse of Priyanka Gandhi, the General Secretary of the Indian National Congress, the largest opposition party in India. Bhandari faces extradition on the charges.

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Mondaq

AUGUST 17, 2022

In the Air India Limited case, the Delhi High Court has, once again, reiterated that for payments made by an Indian tax resident to a non-resident, the Indian payor will be correct in applying the withholding tax rate.

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Mondaq

SEPTEMBER 16, 2021

UOI has directed the tax department to refund the amount collected during the stage of investigation along with interest from the. The Telangana High Court in Deem Distributors Pvt.

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JURIST

JANUARY 3, 2023

Indian law students are reporting for JURIST on law-related developments in and affecting India. Union of India ) puts to rest the hopes of many who wished to see the ambitious exercise struck down owing to its seemingly unplanned nature, haphazard execution and unprecedented economic impact. 500 and Rs.1000 1000 denomination.

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JURIST

FEBRUARY 24, 2022

The Advertising Standards Council of India (ASCI) issued a set of guidelines Wednesday designed to prevent risk to users of crypto assets and related services. The guidelines, which follow the unveiling of the new tax regime on cryptocurrencies, apply to all new advertisements from April 1.

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Mondaq

OCTOBER 31, 2021

This update covers key judicial decisions relating to GST, service tax and customs.

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JURIST

OCTOBER 4, 2021

The documents cover a wide range of subjects including complex financial schemes for avoiding taxes, the creation of shell companies, the moving of money between banks, and a variety of different investments. Apart from world leaders, pop music diva Shakira and India’s cricket icon Sachin Tendulkar have also been named in the papers.

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Customs & International Trade Law

APRIL 9, 2025

tariffs on goods from Canada, Mexico, and China are estimated to increase tax revenue by $600650 billion over ten years. The cost to American households in raised prices would be equivalent to a $2,100 tax hike , according to the Tax Foundation. The resources available to the U.S.

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Mondaq

JUNE 27, 2022

This update covers key judicial developments in the month of May 2022 relating to direct tax, service tax, GST, central excise and procedural matters.

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Mondaq

MAY 12, 2022

11/2017-Central Tax (Rate) as well as Entry 3(if) of Notification No. 11/2017 – State Tax (Rate). In a recent judgment1 , the Gujarat High Court (‘the HC') has held that the Entry 3(if) of Notification No.

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Mondaq

FEBRUARY 23, 2022

Crypto Tax' has been the buzzword following the unveiling of India's Union Budget (Finance Bill) for 2022! While a Government bill proposing to ban and criminalise the investment and trading.

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Mondaq

MARCH 24, 2022

Deputy Commissioner of Income Tax, held that the expenses incurred by pharmaceutical companies towards. The Supreme Court, in M/s Apex Laboratories Pvt.

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Mondaq

AUGUST 24, 2021

The Taxation Laws (Amendment) Bill, 2021 ("2021 amendment") passed by the Lok Sabha will undo the retrospective taxation introduced by the Finance Act, 2012 ("2012 amendment").

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LexForti

AUGUST 5, 2021

The 2012 amendment retrospectively imposed tax liability on the gains which arose from indirect transfer of Indian assets. It had been passed to overturn the apex court’s judgment in the Vodafone case which did not allow the retrospective tax liability. Further, it provided for validation of demand.

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Law 360

JULY 15, 2021

Netflix has been slapped with wrongful termination and gender and race discrimination claims by a former director in its business and legal affairs department, who contends the streaming giant tossed her after she complained about its tax structure in India.

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Mondaq

FEBRUARY 3, 2022

Vide the amendments proposed to various provisions pertaining to classes of officers and proper officers under customs law, the Finance Bill, 2022 seeks to legislatively overrule a judgment dated March 2021 of the Supreme Court of India.

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Mondaq

AUGUST 27, 2021

Export of Rice (basmati & non-basmati) to EU member states and other European countries namely Iceland, Liechtenstein, Norway and Switzerland only require Certification of Inspection from EIA/EIC.

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Mondaq

MAY 4, 2021

Plastic Export Promotion Council (PEPC) authorized to be an agency to issue non-preferential certificate of origin (CoO). Trade Notice No. 42/2015-2020 dated March 17, 2021]

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Mondaq

APRIL 21, 2022

As distinctions between debt and equity are collapsing, investors may face challenges when interpreting applicable tax rules when investing into structured debt instruments.

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Mondaq

JULY 1, 2022

The GST Council held its 47th meeting at Chandigarh on 28th and 29th June 2022. Major key recommendations made by the Council.

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Mondaq

DECEMBER 27, 2021

The CBIC has augmented the GST Rate from 5% to 12% on fabrics, apparels and footwear with the objective to eradicate.

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