Budget 2021: MSMEs as the driver for Atmanirbhar Bharat
Introduction The Budget speech of the finance minister makes a declaration in para 82 that the government will “ensure faster resolution of cases”. Towards this end, the FM has announced that “NCLT framework will be strengthened,...
Budget 2021: Multiple amendments to change course of indirect taxes
The Finance Minister’s announcements on February 1, 2021 have been large and widespread. There are substantial changes in the text of tax laws which affect all classes of indirect taxes such a GST, Customs and even the no longer...
First Look: India’s Budget – A step towards clarity for foreign investor taxation
The Indian government today announced its budget proposals for 2021–22, including several key budget proposals that affect international taxation. The proposed amendments suggest that the government’s intent is to provide clarity...
Budget unleashes reforms in tax dispute resolution mechanism
Delivered on an extraordinary occasion which is bound to test the mettle of any Finance Minister – and thus both an onerous responsibility and an enviable opportunity – the declarations made in the Budget speech are steadfast and...
A driver of economic revival
Given the difficult balancing act of pushing growth and ensuring fiscal discipline, it is rare for a finance minister to get enough headroom to design a budget fitted with all guns out and blazing to channelise growth and fuel...
Union Budget 2021: India’s second 1991 moment?
The Budget balances macro-economic reforms and public policy areas Late president APJ Abdul Kalam in his vision document, India 2020, envisioned India as a developed nation of 1.2 billion. Whenever history is written, FM...
Vodafone and India’s Offshore Indirect Transfer Tax: The saga continues
Vodafone and India’s Offshore Indirect Transfer Tax: The saga continues Background In September 2020, the Permanent Court of Arbitration at The Hague issued award in favor of Vodafone[1] against India’s income tax...
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...