The Goods and Services Tax (GST) regime in India, introduced in 2017, aims to streamline taxation by consolidating numerous indirect taxes into a singular tax […]
The Divergence in Monetary Limits for CGST and SGST Adjudication
India’s Goods and Services Tax (GST) is a transformative reform in the country’s tax landscape, underpinned by the principles of fiscal federalism and co-operative federalism. […]
A Comprehensive Guide to Interest Rate Derivatives: Understanding the Key Instruments
Interest rate derivatives (IRDs) represent a class of financial instruments designed to provide solutions to market participants facing the uncertainty of interest rate fluctuations. These […]
Navigating the Maze of the Prevention of Money Laundering Act (PMLA): Key Powers and Procedures
The Prevention of Money Laundering Act (PMLA) represents a cornerstone in India’s legal framework to combat the growing menace of money laundering. It equips enforcement […]
When Cash Payments are Essential for Business, Section 40A(3) Does Not Apply
Section 40A(3) of the Income Tax Act, 1961, is an integral provision within the tax code of India, designed to regulate how businesses make payments, […]
Clarifying Section 40A(3): ITAT’s Take on Necessary Cash Payments for Business Expenses
The Income Tax Act, 1961, remains the cornerstone of the Indian taxation system, governing the financial obligations of individuals and businesses alike. One of the […]
Decoding the Liberalised Foreign Remittances Scheme (LRS): A Comprehensive Guide
The Liberalized Remittance Scheme (LRS), introduced by the Reserve Bank of India (RBI) on February 4, 2004, has become one of the most instrumental financial […]
DTAA Demystified: How Double Taxation Avoidance Agreements Benefit Global Businesses
The intricate realm of international taxation is fraught with challenges, particularly when it comes to the issue of double taxation. Double taxation arises when the […]
Supreme Court Ruling on GST and Mining Lease Royalties: Key Takeaways
The landscape of indirect taxation in India underwent a seismic transformation on July 1, 2017, with the introduction of the Goods and Services Tax (GST). […]
Section 38 of the CGST Act, 2017: A Game Changer in GST Returns and Reconciliation
The evolution of the Goods and Services Tax (GST) framework has undoubtedly marked a paradigm shift in India’s taxation landscape, with the core intention of […]