A brief insight into G7 ‘s proposal for a Global Minimum Tax Rate for Corporations

What is G7 ? The Group of 7 (G7) is an informal group of seven countries — the United States, Canada, France, Germany, Italy, Japan and...

43rd GST Council Meeting Updates and Relaxations

Customs duty and GST exemptions on relief materials: Indian Customs duties comprise of Basic Customs Duties (BCD) and Customs duties equivalent to Integrated Goods and...

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THE DIRECT TAX VIVAD SE VISHWAS BILL, 2020 read with AMENDMENTS

The Direct Tax Vivad se Vishwas Bill, 2020 (the scheme), tabled in Parliament on February 5, 2020, proposes an amnesty scheme for litigations pending...

Overview Video on “Vivad Se Vishwas” Scheme as announced in Budget 2020

The Direct Tax Vivad se Vishwas Bill, 2020 (the scheme), tabled in Parliament on February 5, 2020, proposes an amnesty scheme for litigation pending...

Can Taxpayer opt for Vivad se Vishwas Scheme in case an enhancement notice is issued by CIT(A)

According to the Finance Minister, at present there are as many as 4,83,000 direct tax cases pending in various appellate forums i.e. Commissioner (Appeals),...

No Penalty u/s 271(1)(c) can be imposed on estimated additions

At times additions are made by Income Tax Department on estimated basis without having any clear evidence or iota of evidence on record to...

No Opportunity of Cross-Examination under Income Tax Litigations

No Opportunity of Cross-Examination under Income Tax Litigations In law, cross-examination is the interrogation of a witness called by one’s opponent. Section 138 of the...

Submission in cases of Alleged Bogus Purchases

In many instances, there are allegations from Income Tax Department that the tax payer has made BOGUS PURCHASES in order to reduce the Income...

Streedhan, Pin Money and NRI Savings during Demonetization period.

When PM Modi announced that Rs with the denomination of 500/- and 1000/- would cease to be the legal tender from 9th of Nov,...

Full ITC cannot be availed when payment is netted off against receivables for the supplies made between Branch and HO

Authority for Advance Ruling (AAR Tamilnadu) pronounced in case of M/s. Sanghvi Movers Ltd. that full ITC cannot be availed by registered branch office for...

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