Summary: The 57th GST Council meeting has recommended a set of structural reforms aimed at addressing long-standing pain points in the GST framework that have constrained business operations. The recommendations collectively seek to unlock working capital by broadening the scope
Summary: The New Delhi Declaration adopted at the 18th BRICS Summit signals progress on customs cooperation and regulatory alignment, but its real test lies in whether it can deliver lower tariffs, fewer non-tariff barriers, and faster market access for exporters.
Summary: Two recent rulings, by the Delhi ITAT and the Delhi High Court, reached opposite conclusions on the same question: Who is the real employer of seconded personnel? Although arising in different contexts, both referred to factors established in the
Summary: The Gujarat High Court’s ruling on corporate guarantees is not merely about whether GST is payable. It is about the limits of statutory fiction, the sanctity of commercial reality and the constitutional discipline that must govern taxation.
Summary: The Income-tax Appellate Tribunal has clarified that consideration received on the buy-back of vested but unexercised stock options is taxable as long-term capital gains, and not as a salary perquisite, providing significant relief to employees participating in the ESOP
Summary: CA certificates are governed by the relevant statutory provisions. CAs must issue them in accordance with the professionalism outlined in the ICAI’s code of conduct. Across tax frameworks, such certificates substantiate positions and claims. However, a certificate cannot, on
Summary: Mumbai ITAT in Reliance Foundation Hospital Trust has held that a charitable organisation’s registration cannot be denied merely because of the scale of its operations, sophisticated infrastructure, or substantial receipts. The ITAT examined the scope of enquiry and emphasised
Summary: The Delhi ITAT in the Huntsman Investment case ruled that intra-group share buy-backs can qualify as “corporate reorganisation” under Article 13(5) of the India-Netherlands DTAA, shielding capital gains from Indian taxation. The Tribunal emphasized substance over technicality, noting that
Summary: The Customs Act assigns importers and exporters parallel duties that do not usually converge. Yet Indian authorities have started to rope foreign exporters into importers’ alleged violations in the wake of the Act’s extraterritorial reach. This approach treats the
Summary: The Prohibition of Benami Property Transactions Act, 1988, is a special penal statute and actions under it are sovereign actions. The Supreme Court recently settled that where an action is taken under such a penal statute, it being a
