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The National Company Law Tribunal, Bengaluru Bench, has reaffirmed that the Committee of Creditors holds autonomous authority over funding mechanisms for Corporate Insolvency Resolution Process expenses, even when the approved model remains unimplemented.

In January, 2017, many newspapers and articles covered a story where they reported that the Ministry of Consumer Affairs, Food and Public Distribution has declared the service charges...

High Court of Madhya Pradesh in JagdishKanani vs. Commissioner, CGST & Central Excise held that the Commissioner has power to arrest if he has reason to believe that a person...

The IT Act allows taxpayers to claim refunds for any excess tax paid to the Government.[1] However, such refund claim is often subject to the limitations prescribed...

The Appellant, engaged in the business of manufacturing security inks and solutions, was registered under GST in Sikkim. The Respondent's operations were dependent upon supply orders from the Reserve Bank of India.

The Indian government has introduced sweeping tax exemptions on interest and capital gains from Government Securities for Foreign Institutional Investors and the Bank for International Settlements, effective retrospectively from April 2026. As the rupee plummets past the 97-mark against the US dollar and foreign portfolio investments hemorrhage approximately INR 2.5 lakh crore, these reforms aim to stabilize currency pressures and restore investor confidence in India's debt markets.

The General Anti-Avoidance Rule (‘GAAR') was introduced through Finance Act, 2012 to curb tax evasion through unethical means. The provisions of GAAR were incorporated under Chapter X-A...

The Government affirms determination to introduce Goods and Services Tax (GST) in the coming year to replace existing multiple taxes.

Director of Income-tax vs Guy Carpenter & Co Ltd – Delhi High Court.

11th July 2023 witnessed the 50th Goods and Services Tax Council meeting under the Goods and Services Tax (‘GST') regime. The Council, from the very beginning, has considered the concerns

The Government of Karnataka notified the Karnataka Tax on Professions, Trades, Callings and Employments (Amendment) Act, 2023 in the Official Gazette on 14 March 2023, pursuant to the Governor's assent to the same on 13 March 2023.

The Gauhati High Court has ruled on whether partners of a company can face penalties under Section 122(1A) of the CGST Act, 2017, examining the distinction between 'taxable person' and 'any person' in penalty provisions. The judgment addresses the retrospective applicability of Section 122(1A) and diverges from earlier Bombay High Court decisions while aligning with the Delhi High Court's interpretation. The Court analyzed whether natural persons who retained benefits from GST violations can be held liable

The Hon'ble Finance Minister has announced a host of relaxations in the compliance timelines for small taxpayers and various other relief measures.

The Income Tax Appellate Tribunal in the case of M/s. Rameshwaram Strong Glass (P) Ltd. v The Income Tax Officer has upheld the right of the company issuing shares to choose the valuation methodology ...

Over the past decade the Indian economy has experienced a tremendous influx of foreign capital from private equity and hedge fund investors from across the globe. Such investment funds have typically used Singapore or Mauritius entities to invest in India because of their highly favorable Indian tax treatises.

This monthly legal roundup is a compilation of our thought leadership articles published in the month of January 2024 on key legal and regulatory topics.

Temporary staffing arrangements are an attractive option for foreign companies seeking to operate in India, especially where the business needs require flexibility and the foreign company...