Bombay High Court Restores Natural Justice in Tax Appeals Process
In July 2018, the Central Board of Direct Taxes released its Central Action Plan for 2018-19, in which it announced a plan to incentivise the Commissioner of Income Tax (Appeals) for accelerating disposals of appeals. In a...
FPI Reforms have largely done well under the Modi Regime: A blog of the CSIS Asia Program
Status: Incomplete – While the Securities and Exchange Board of India (SEBI) has made some changes, meaningful reform to raise the ceiling on foreign institutional investors has not yet occurred. Difficulty: Low –...
’Maharashtra takes lead to clear pre-GST cases’ Business Standard Column of March 11, 2019
The government of Maharashtra promulgated an Ordinance on March 6, notifying a scheme for settlement of tax arrears, as a logical follow on to its state cabinet approval. The underlying objective: Offer a window for the closure...
In an election year, it’s fair to lay out stretched targets’ Financial Express Column February 2, 2019 on interim Budget 2019
There was limited guidance in the speech on how the growth engine of the economy shall propel, nevertheless it laid an ambitious vision for India becoming $5-10 trillion economy in 5-8 years, respectively. Finance minister Piyush...
Opinion ‘Repeal The Angel Tax, Recent Changes Aren’t Enough’ Bloomberg|Quint, February 9, 2019
The government’s Startup India initiative continues to receive flak as the startup ecosystem faces new hurdles, and the ‘angel tax’ controversy affects access to capital. In the last 24 hours atleast two startups...
INSIGHT: GST in India—Momentum Optimized in 2019, Bloomberg BNA, March 1, 2019
‘The interim Finance Minister, in his Interim Budget 2019 speech, praised the effective implementation and success of the Goods and Services Tax.’ While noting that 2018–19 was the first full year of implementation of the Goods...
‘Place of Effective Management: Indian Perspective (POEM)’ – Kluwer International Tax Blog, August 22, 2018
India introduced the place of effective management (POEM) in its domestic law in Finance Bill of 2015 but due to lack of preparedness it was deferred to April 1, 2017 and made applicable from assessment year 2017-2018. The...
Article: ‘A retrograde change to the Income-tax appeal process’ Bloomberg-Quint, August 4, 2018
In an unprecedented move, the Central Board of Direct Taxes, in pursuance to its Central Action Plan 2018-19, has announced a scheme to incentivise the Commissioner of Income Tax (Appeals) for accelerating disposals of appeals...
‘Tata-Mistry case: First-round victory for corporate democracy in India’ Business Standard, July 23, 2018
The central challenge of corporate governance is to align the interests of ownership and management, and their role in ameliorating problems arising from conflicts of interest. Diffused ownership structures result in a management...
Article: ‘One Year of GST: Some Hits, A Few Misses’’, Bloomberg|Quint June 27, 2018
One Year of GST: Some Hits, A Few Misses The idea of moving towards a Goods and Services Tax was first mooted by the then Union Finance Minister in his 2006-07 Budget speech proposing its introduction from April 2010. An...