Budget 2021: These three key sectors expect govt to deliver a game-changing super over
All eyes will be on Finance Minister Nirmala Sitharaman on February 1 when she presents the Union Budget 2021 considering the grim legacy of 2020 – on economic, health, and political front. The economic impact of the...
Kluwer’s Blog: United States’ 301 findings on India’s Equalisation Levy – What next!
Introduction One of the key reasons highlighted by OECD imploring the urgent need for consensus on digital tax under its Inclusive Framework were the repercussions arising on account of unilateral digital taxes. Recent reports...
Budget 2021: New economic outlook on the anvil – Trade policy perspectives
Introduction In what could be labelled as the world’s worst economic deceleration since the great depression in 1930’s, the world economy is 2020 is expected to contract by 5% and India around 8%. Barring the shock in the first...
Franklin Templeton case: HC sows seeds of democracy in governance of MFs
The effect of the pandemic has not been confined to health and has extended to other interesting debates in various fields of law. One issue which has caught the public eye is the controversy surrounding the decision of Franklin...
The Coca-Cola Company Ruling – Analysing the US Tax Court’s observations
Purpose of the blog: To analyze the recent ruling of the US tax court (‘the Court’) in the case of The Coca-Cola Company (TCCC). Ruling: The US Tax Court, for the years 2007-09, ruled TCCC was under-compensated by its associated...
Digital taxes: If multilateral fails, look for bilateral solutions
OECD has not been able to get a consensus as its one-size-fits-all approach is fundamentally at odds with the inherent attributes of the digital industry Whereas it means a source of tax revenues for nations, which is crucial in...
GST Input Tax Credit: An Avoidable Controversy
The onset of the goods and services tax, notwithstanding its tax-unification benefits and reformative impact, has been mired in controversies. Especially, the wide-ranging disputes in relation to input tax credit or ITC that...
What next after the Vodafone tax arbitration?
The Permanent Court of Arbitration at The Hague has issued its award allowing the claim of Vodafone against the Government of India. The award marks the culmination of a long-drawn acrimonious litigation between Vodafone and the...
Taxpayer Charter: Nurturing Relationship of Mutual Trust and Respect
Last week, the PM unveiled the Taxpayer Charter with a twin-fold document containing 14-point obligations of the Revenue and 6-point duties of the taxpayer. While the analysis of each is yet to be translated into actionable...
GST Compensation Conundrum: Between a rock and a hard place
The debate on Goods and Services Tax compensation for states, earlier discussed in hushed tones, has now assumed centerstage. It was expected that current economic strain would impact GST collections and in turn take a toll on...