IBC Suspension: Reforms That Can Fill The Gap
The suspension of the Insolvency and Bankruptcy Code proceedings is grounded in preventing many liquidations which could burden the National Company Law Tribunal process, putting further stress on the efficacy of its functioning....
SC’s struggles with ‘unruly horse’ of public policy in foreign awards
The Nafed-Alimenta judgment shows it might perhaps be time for Parliament to intervene and clarify the notion of public policy in the context of foreign arbitral awards The Supreme Court, in its recent judgment in the case of...
Move petroleum to GST: The time is now
The health crisis is a moment of reckoning and an opportune time to revisit GST policy-design The 2016 game-changing constitutional amendment to facilitate introduction of GST was described as a “grand-bargain”. The states agreed...
GST On Directors’ Remuneration: A Quandary?
A recent ruling of the Rajasthan GST Authority for Advance Ruling in relation to goods and service tax liability on remuneration to company directors has come up for debate. The reasoning in this ruling lays down a legal...
India Pushes In-Bound Investment Funds with Tax Changes
Foreign investors should be aware of the tax changes in sovereign wealth funds and pension funds as Mukesh Butani, of BMR Legal, explains. The Indian Parliament passed the finance proposals of the Indian government for FY...
Expansion of equalisation levy: Why it’s not well-timed
By expanding the scope of equalisation levy to cover foreign e-commerce platforms, India has rushed to incrementally cast its net wide insofar as the digital service user-base is concerned. The amended Finance Bill 2020, which...
Vivad se Vishwas: Let this be the last scheme
We need innovative solutions to address tax litigation Last week witnessed the passage of the Direct Tax Vivad se Vishwas Bill even as it faced criticism from the Opposition, particularly in the Rajya Sabha. The Bill was...
Taxpayer’s charter brings focus on taxpayers’ rights: what it must include
It is paramount that the charter enumerates fundamental rights of taxpayers and basic standards of service, and includes an efficient grievance redressal system In the last decade, aggressive stand by the tax administration,...
An unequivocal movement towards reducing tax litigation and improving the effectiveness of tax administration
There is lot in fine print by way of amendments to several statutes including benami transactions and duty laws. Fine print apart, there are clearly visible signs that the incumbent government means business. It has tried to...
Modi’s Budget 2020 is less taxing for startups, salaried class. Not so for e-commerce giants.
To boost the startup ecosystem, Budget 2020 proposes to ease the burden of taxation on the employees by deferring the tax payment on ESOPs of startups. One of the most prominent aspects of the Narendra Modi government’s...