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Income Tax Scrutiny Notice under Section 143(2) for AY 2024-25: Key Insights on Digital Assessment, Timelines, and the Importance of Expert Representation
Large-Scale Issuance of Section 143(2) Notices: Context and DriversIn June 2025, the Income Tax Department initiated an extensive dispatch of scrutiny notices under Section 143(2) for the Assessment Y...
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Taxation of Buyback of Shares: A Comprehensive Overview
Introduction to Buyback of Shares and Its Strategic ImportanceBuyback of shares is a significant mechanism in Indian corporate finance, allowing companies to repurchase their own equity from existing...
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Overview of Input Tax Credit under GST: Section 17 – Allocation and Ineligible Credits
Introduction to Section 17 of the GST ActSection 17 of the Goods and Services Tax (GST) Act provides the statutory framework for the allocation of Input Tax Credit (ITC) when goods or services are use...
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Overview of Input Tax Credit (ITC) Entitlement under GST: A Section 16 Perspective
Introduction to Input Tax Credit (ITC) Framework under GSTInput Tax Credit (ITC) is a foundational element in the Goods and Services Tax (GST) system, permitting registered assessees to offset their t...
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GSTAT: From Dormancy to Action – Navigating the Litigator’s Crossroads
1. Overview – The Essential Yet Elusive GST Dispute Redressal MechanismThe Three-Tier Appeal System under GST Law(i) The GST architecture was designed with a structured, three-level appellate framewor...
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Consequences for GST Officer in Case of Unlawful Tax Recovery: Key Takeaways from Patna High Court Judgment
IntroductionThe Patna High Court, in its recent decision in the case of M/S Great Eastern Hire Purchase Private Limited (Civil Writ Jurisdiction Case No.18049 of 2024), imposed a penalty on a GST offi...
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Latest GST Judicial Decisions – May 2025: Key Interpretations, Compliance Takeaways & Litigation Guidance
ITC Eligibility When Goods Delivered Directly to End Consumeri) Judicial ViewpointThe Patna High Court in M/s Sane Retails Private Limited v. State of Bihar (CWJC No. 470 of 2024, decided 11 April 202...
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Detention of Goods Without Tax Evasion Intent Not Permissible Due to E-Way Bill Technical Issues
Overview of the Allahabad High Court’s DecisionThe Allahabad High Court, in its judgment in the matter of M/s T.K. Printers v. Additional Commissioner Grade 2 and Another, clarified that the impositio...
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Is India Prepared for GSTAT? Unpacking the Journey Towards an Effective GST Dispute Tribunal
Background and Author’s PerspectiveA friend recently posed a pressing question: after losing before the Commissioner (Appeals), should we go straight to the High Court, or has GSTAT commenced in Mumba...
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SEBI’s Latest Stand on ESOPs for Start-Up Founders Turned Promoters: Relief Amidst Lingering Uncertainty
1. Introduction: The ESOP Dilemma for Start-Up Founders(i) Evolving Compensation Methods in Start-UpsStarting a new business venture often requires founders to take on numerous roles, frequently optin...
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A Comprehensive Guide to Applications, Petitions, and Appeals Before the NCLT
1. Introduction to the National Company Law Tribunal (NCLT)The National Company Law Tribunal (NCLT) was established under Section 408 of the Companies Act, 2013 (CA 2013) as the chief adjudicatory bod...
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Navigating Multiple GST Liabilities: A Deep Dive into Overlapping Provisions under the CGST Act, 2017
OverviewThe Central Goods and Services Tax (CGST) Act, 2017, is designed with a range of interrelated provisions that can, in specific situations, lead to several liabilities arising from a single con...
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Delayed IGST Refunds for Exporters: Impact of DGARM’s Risky Exporter Classification
Introduction: Understanding IGST Refund Delays for ExportersMany Indian exporters, despite adhering to all GST compliance requirements, have experienced significant delays in receiving IGST refunds. A...
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Strategic Use of Loan Interest Deductions in Tax Planning
Maximizing Loan Interest Deductions and Staying Compliant with Tax LawsIntroduction: Strategic Use of Loan Interest Deductions in Tax PlanningInterest paid on loans can substantially lower an assessee...
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Overview of Charge Registration, Modification, and Satisfaction under the Companies Act, 2013
1. Introduction to Charges under the Companies Act, 2013(i) Definition and Nature of ChargesA "charge" as per Section 2(16) of the Companies Act, 2013, refers to an interest or lien created over a com...
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Overview of Taxation Provisions for Partnership Firms in India
Introduction to Partnership Firm TaxationPartnership firms have long been favored by entrepreneurs in India due to their easy setup, shared management, and operational adaptability. Despite these bene...
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Optimized Tax Planning for Marketing Professionals: A Chartered Accountant’s Approach
OverviewMany marketing professionals tend to make rushed tax-saving decisions as the financial year draws to a close, often acting on advice without assessing their own financial goals and liquidity n...
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Analysis of Tax Law Amendments: Prospective and Retrospective Applicability
Introduction to the Issue(i) Nature of the Legal QuestionA recurrent question in Indian tax law is whether legislative amendments apply to earlier assessment years if the proceedings for those years c...
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GST Implications for Corporate Guarantees
i) Overview and Concept of Corporate Guarantee under GSTA corporate guarantee, though not explicitly defined in the GST legislation, essentially involves one company assuring the obligations or liabil...
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Re-examining Input Tax Credit Restrictions under Section 17(5): Insights from Bharti Airtel, Safari Retreats, and Recent Amendments
1. Overview1.1 Background and Recent DevelopmentsThe Safari Retreats case brought significant attention to the "functionality test" for classifying buildings as "plant" under GST law, yet its influenc...