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Income Tax Filing for Non-Resident Indians (NRIs) in India: Dealing with Rental Income, Capital Gains, and NRO Interest
Determining NRI Status: Residential Criteria for FY 2024–25(i) Understanding the Definition of NRIUnder the Income-tax Act, an individual is considered a resident in India if they are physically prese...
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Income Tax and GST Compliance for Social Media Influencers in India
Overview of Taxation for Social Media Content Creatorsi) Introduction to Income Streams:The rise of the digital creator economy has enabled numerous Indians to earn through YouTube, Instagram, and oth...
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Denial of ITC on IGST Paid via TR-06 Challan: Key Findings of Tamil Nadu AAR
Overview of the AAR RulingThe Tamil Nadu Authority for Advance Ruling (AAR) has recently clarified that Input Tax Credit (ITC) is not available for Integrated Goods and Services Tax (IGST) paid on imp...
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No IGST Imposed on Inter-Unit Services Where Full ITC Is Available: Analysis of Delhi High Court Ruling
Background and Overview(i) Introduction to the Legal DisputeThis article examines the Delhi High Court’s decision in the matter of M/s KEI Industries Limited versus Union of India & Others, which cons...
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Claiming Irrecoverable GST as an Allowable Expense under Income Tax Following Missed Refund Deadline
GST on Deemed Exports: Framework and Challenges(i) Definition and Scope under GST(a) As per Section 147 of the Central Goods and Services Tax Act, 2017 (CGST Act), certain supplies, despite not result...
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GST Implications on IPO and OFS: A Comprehensive Analysis
1. IntroductionThe application of Goods and Services Tax (GST) on Initial Public Offers (IPOs) and Offers for Sale (OFS) in India has generated considerable debate, particularly in relation to Input T...
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Foreign Tax Credit (FTC) in India: A Comprehensive Guide for NRIs and Foreign Income Earners
Foreign Tax Credit (FTC) in India: A Guide for NRIs and Foreign Income EarnersIntroduction: Understanding the Need for Foreign Tax CreditThe increasing mobility of Indian professionals and freelancers...
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Tenure and Rotation for Secretarial Auditors, Statutory Auditors, and Independent Directors: Legal Requirements and Regulatory Interpretations
1. Overview of Statutory ProvisionsThe Importance of Tenure and Rotation GuidelinesThe appointment duration and rotation mandates for Secretarial Auditors, Statutory Auditors, and Independent Director...
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Critical Analysis of Section 107(11) of the CGST Act, 2017: Appellate Powers, Procedural Safeguards, and Interpretational Challenges
Overview of Section 107(11): Scope and Authority of the Appellate BodySection 107(11) of the Central Goods and Services Tax Act, 2017 stipulates the scope of powers vested in the Appellate Authority d...
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Eight Years of GST Evolution in India: Legal Developments and Future Prospects
Overview: GST’s Transformative JourneyJuly 1, 2017, heralded the introduction of the Goods and Services Tax (GST) in India, signifying a major overhaul in the country’s indirect tax landscape. This si...
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GST Treatment of Ocean Freight on FOB Imports of Crude Oil and LPG
Introduction to GST on Imported FreightIndia’s Goods and Services Tax (GST) framework has far-reaching effects on the taxation of imports, including the treatment of freight in international trade. As...
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Intermediary Services Under GST: Issues and Anticipated Amendments
1. Overview: Role of Intermediaries in Commercei. Intermediaries in Trade FacilitationIntermediaries play a pivotal role in trade transactions, acting as vital linkages that ensure smooth procurement...
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ITC Refunds in the Context of Business Discontinuation
i) Introduction to the IssueThe Goods and Services Tax (GST) system was envisioned as a streamlined, transparent taxation structure, aiming to reduce compliance burdens and foster a business-friendly...
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Reverse Charge Mechanism on Commercial Property Rentals from Unregistered Persons: An In-Depth Analysis of the 2024 GST Amendment
Overview: The Paradigm Shift in GST on Commercial RentalsThe GST Council’s Notification No. 09/2024 – Central Tax (Rate), implemented from October 10, 2024, has significantly altered the taxation land...
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Prohibition of Simultaneous GST Proceedings: Analysis of Delhi High Court Decision
IntroductionThe Delhi High Court recently clarified the legal position on whether both Central and State GST authorities can initiate concurrent proceedings on the same subject matter. This was establ...
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Kerala High Court: Correction Required When GST Department Issues Conflicting Orders
Background and Legal Context(i) Overview of the CaseIn the matter of Winter Wood Designers & Contractors India (P.) Ltd. versus State Tax Officer, the Kerala High Court addressed whether rectification...
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Board Resolution for Application to Strike Off Company Name from Registrar of Companies
IntroductionThis article provides a restructured and rephrased draft of a certified true copy of a board resolution passed by the Board of Directors. The resolution relates to the application under Se...
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Overview of Commencement of Business Requirements under the Companies Act, 2013
Evolution of Commencement of Business Provisions(i) Initial Framework under the Companies Act, 1956The concept of obtaining a Certificate of Commencement of Business (COB) was first introduced through...
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Corporate Social Responsibility (CSR) : Gaps and Insights
Corporate Social Responsibility (CSR): Gaps and InsightsIntroduction to CSR in the Indian Context(i) CSR, as stipulated under Section 135 of the Companies Act, 2013, represents a paradigm shift in Ind...
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Managing Inadvertent Record Rejections in the Invoice Management System
1. Recovery of Input Tax Credit for Erroneously Rejected Invoice Documents(i) Procedural Framework for ITC RecoveryWhen assessees inadvertently reject valid invoices, debit notes, or ECO-documents thr...