The reform process for the indirect taxation regime in India has been ongoing for some time, with the prevailing view being that simplification of tax regime and a principle-laden approach was an essential concomitant in the outlook of a developed nation. Much debate has ensued and during the...

With the objective of tax-minimization towards increasing shareholder return, tax-avoidance strategies are being frequently employed by corporations especially multinationals. In the wake of increasing evidence of corporate collapses linked with tax-avoidance maneuvers, both economic and legal...

In a recent decision of the Supreme Court in "Larsen & Toubro Ltd." has put to rest the dispute relating to the correctness of the "K. Raheja Development Corporation" and the distinction between a contract of sale and a works contract. This decision seeks to settle, after revisiting the...

'Every man is entitled if he can to order his affairs so that the tax attaching under the appropriate Acts is less than it otherwise would be.' These words of Lord Tomlin in Duke of Westminster can be attributed as a pivotal ground for various amendments in the fiscal laws as the ingenuity of...

Taxability of supply is dependent upon the attributes of the transaction. Often the transaction is an amalgam of multiple considerations flowing between the parties. In such cases a question arises whether the transaction constitutes a single supply or multiple supplies form part of such...

In a recent decision Shields & Sons Partnership - C-262/16 the European Court of Justice (‘ECJ') has adverted to the nuances of composition scheme in the context of Value Added Tax models. This decision examines the rationale for introduction of such scheme, which is the administrative...

Taking cue from the OECD's Base Erosion and Profit Shifting project, the Finance Act, 2016 made a significant change in the scheme of direct taxes with the introduction of ‘Equalisation Levy'. As the Finance Minister explained, the measure was “to tap tax on income accruing to foreign...

Generally 'privity' is a concept in contractual law. However a recent decision of the European Court of Justice (ECJ) has employed the concept of ‘privity' of contract to opine upon the classification of the supply which makes it both interesting and rare. In this case [L.Č.' IK v....