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DGFT’s Revamped eBRC Format: Mastering the Digital Compliance Era in Export Realisations
Overview of the Revised eBRC Compliance LandscapeThe Directorate General of Foreign Trade (DGFT) has implemented a significant overhaul to the Electronic Bank Realisation Certificate (eBRC) mechanism,...
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Delayed Filing of Declaration for Commencement of Business: ROC Penalty on Company and Directors – A Detailed Analysis
Background of the MatterM/s. QZ Energies (India) Private Limited, based in Bengaluru, Karnataka, was incorporated on 10th April 2023 under the Companies Act, 2013. As mandated by section 10A(1)(a) of...
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Legal and Procedural Dimensions of Compromise, Arrangement, and Amalgamation under Companies Act, 2013
IntroductionEvery commercial entity experiences various phases throughout its existence, ranging from growth and prosperity to periods of hardship and financial challenges. For instance, a company tha...
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Launch of the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)
1. Overview: Launch of the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)The Ministry of Corporate Affairs (MCA), via General Circular No. 01/2026 dated February 24, 2026, has rolled out t...
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Comprehensive Analysis of the Interplay Between Section 122 and Sections 73 & 74 of the CGST Act, 2017
OverviewThe Central Goods and Services Tax (CGST) Act, 2017, though operative since July 2017, continues to evolve as its provisions are increasingly subjected to judicial interpretation. While the ap...
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Critical Analysis of Penalties under Sections 42 & 43 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Background and Purpose of the Black Money ActThe Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (“Black Money Act”) was enacted to address the issue of undisclosed...
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Comprehensive Restructuring of Tobacco and Pan Masala Taxation in India Effective February 2026
Introduction to the New Taxation LandscapeThe Indian government has initiated a substantial overhaul of the taxation framework for tobacco and pan masala products, following the enactment of the Centr...
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The State’s Right to Retain Amounts Collected Without Legal Authority
1. Overview – The State’s Right to Retain Amounts Collected Without Legal AuthorityThe Fundamental QuestionTaxation statutes are built on accuracy, setting out detailed frameworks for rates, valuation...
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Addressing Procedural Lapses in GST Returns: Rectification Beyond Limitation Where No Revenue Loss Occurs
Introduction to GST Compliance EvolutionThe implementation of the Goods and Services Tax (GST) in 2017 signaled a shift from a fragmented indirect tax regime to a unified, technology-centric complianc...
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Major Policy Shift in GST for Exporters and Importers of Intermediary Services: Key Implications and Checklist
Introduction: Evolution of Intermediary Services TaxationThe GST Council's September 2025 session led to a pivotal recommendation concerning the taxation of intermediary services in India. This recomm...
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A New Era in GST Law: Key Takeaways from the Shilpa Medicare Ruling and the Road Ahead for GST Administration
1. Introduction: Significance of the Shilpa Medicare Case in GST LawOn January 31, 2026, the Andhra Pradesh High Court delivered a landmark judgment in Shilpa Medicare Limited v. Union of India, signi...
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Enhanced Overview of the Invoice Management System (IMS): Critical Considerations for the Industry
Introduction: Evolution of IMS in GST ComplianceThe Invoice Management System (IMS), introduced in October 2024, represents a significant step towards the government’s broader goal of automating retur...
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GST Implications on Transferable Development Rights (TDR): The Case for Exemption
Introduction: The Paradox of Taxation on TDR CompensationIn the Indian legal landscape, while direct tax exemptions safeguard the compensation received from compulsory land acquisition, the applicabil...
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GST Liability on Renting of Immovable Property under Reverse Charge Mechanism (RCM): Complexities in Absence of Actual Rent Payment
IntroductionThe reverse charge mechanism (RCM) in the Goods and Services Tax (GST) regime continues to broaden, particularly concerning the renting of immovable property from unregistered persons. Thi...
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Consolidated Show Cause Notices Under Section 74 of CGST Act: Why Financial Years Cannot Be Combined
Introduction: The Core Issue with Consolidated NoticesThe question of whether tax authorities may issue a single show cause notice under Section 74 of the Central Goods and Services Tax Act, 2017 (CGS...
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GST Compliance 2026: The Transition to Real-Time ITC Validation and Hard Controls
1. Introduction: From Reactive Dispute Resolution to Proactive GST ComplianceThe Indian GST framework is experiencing a transformative overhaul in its compliance operations. Traditionally, GST complia...
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Tax Morale and Tax Compliance: The Interplay of Institutional and Perceptual Factors in Delhi-NCR
OverviewTaxation forms the backbone of economic development by funding essential public infrastructure and services. A robust and equitable tax regime not only ensures fiscal sustainability but also c...
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Revisional Jurisdiction Under Income Tax Law: A Comparative Study of Section 263 (ITA 1961) and Section 377 (ITA 2025)
IntroductionThe Union Budget 2024-25 set in motion a major overhaul of India’s direct tax legislation, resulting in the enactment of the Income Tax Act, 2025. This modern statute seeks to simplify, cl...
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Taxation of Salary Earned Abroad and Deposited in Indian NRE Accounts
Overview of Taxability for Non-Resident AssesseesSection 5 of the Income Tax Act, 1961, governs the scope of total income for various residential statuses. For non-resident assessees, the primary conc...
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Tax Sovereignty and Treaty Certainty: An Analysis of the Supreme Court’s Ruling in Tiger Global
1. OverviewOn January 15, 2026, the Supreme Court of India delivered a landmark judgment in The Authority for Advance Rulings (Income Tax) v. Tiger Global International II Holdings (“Tiger Global”). T...