Introduction: In previous parts of Article (Part I[1] and Part II[2]), the concept of taxability of management support services under treaty and Income Tax Act (‘IT Act’) has been analysed in detail. Previous Parts of Article deal with taxability of such services in India in the hands of recipient. However,
Striking Down of Circular on Taxability of Annuities – HAM Projects – Karnataka High Court in DPJ Bidar – Chincoholi & Others – Circular 150/06/2021
In our earlier article[1], we have discussed the issue on taxability of annuities received in a Hybrid Annuity Model. This is the update to the earlier article after the recent judgment of Honourable Karnataka High Court in the matter of DPJ Bidar – Chincholi (Annuity) Road Project Private Limited has
Analysis on Supreme Court Judgment in Northern Operating Systems – Upholding RCM on Manpower Supply for Secondment Employee
Introduction: On 19th May 2022, the Supreme Court delivered two judgments that shaken the foundations of indirect taxation. One in the matter of Mohit Minerals Private Limited[1], which struck down the levy of reverse charge on the importer for ocean freight services (for more on this, please read our article
The Hit and Miss of Gujarat High Court in Munjaal Manishbhai Bhatt – 1/3rd Deduction for Transfer of Land
Introduction: Gujarat High Court strikes again, this time holding that providing an adhoc and standard method to value of undivided share of land involved in provision of construction services as invalid and has Para 2 of Notification No 1/2017 – CT (R) to be read down. Before going into the
Management Support Services vis-à-vis Other Income – An Analysis on position under Treaties
Introduction: In our previous article[1], the concept of taxability of management support services (for brevity ‘MSS”) under fee for technical services (for brevity ‘FTS’ or ‘FIS’) clause has been analyzed in detail. We have concluded that MSS is not taxable under Article 12, since the term ‘managerial’ is not included
Analysis on Supreme Court Judgment in Mohit Minerals – Striking Down the Levy on Ocean Freight
Introduction: The entire country is swayed by the Honourable Supreme Court’s verdict in the matter of Mohit Minerals Private Limited[1]. This is completely unexpected decision after what we have seen in VKC Footsteps India Private Limited. The Supreme Court has struck down the obligation to pay tax under reverse charge
Certain Interesting Issues in Refund of Old Taxes vis-à-vis Transitional Provisions in GST Laws
Introduction: The transition to GST from erstwhile regime is quite a challenging one for the entire country. Though the transitional provisions contained in the GST laws have been substantially improved from the bill stage to the current stage, there is still vacuum prevailing, which is causing great hardship for the
AN ANALYSIS OF THE RECOMMENDATIONS OF THE COMPANY LAW COMMITTEE, 2022
We are aware that the Companies Act, 2013, received the assent of the President on 29.08.2013, and the provisions came into effect in a phased manner from 12.09.2013. The Companies Act, 2013, was enacted on the basis of the various recommendations suggested by the very famous J.J.Irani Committee, in their
Management Support Services vis-à-vis Ancillary and Subsidiary Clause – An Analysis on position under Treaties
Introduction: The concept of Fees for Technical Services (for brevity ‘FTS’) or Fees for Included Services (for brevity ‘FIS’) is a subject matter for constant litigation. The main reason for the litigation is because of the definition of FTS/FIS differs among Income Tax Act (for brevity ‘ITA’) and treaties. Added
Supreme Court on Reassessment Controversy – Union of India vs. Ashish Agarwal
Notices issued under section 148 to assessees shall be deemed to have been issued under section 148A of the IT Act as substituted by the Finance Act, 2021- Supreme Court. Background: During the outbreak of COVID-19 pandemic, in order to provide sufficient time to comply with various provisions under the