Interpretation of fiscal statutes, as contrasted from interpretation of other enactments, is a nuanced task as a variety of additional considerations apply. Jurisprudential survey reveals that the complexity is accentuated when subordinate fiscal legislation particularly those relating to...

Recently the Haryana Goods and Service Tax (‘GST’) authorities have issued “guidelines regarding circumstances in which input tax credit has to be blocked …” in case of certain taxpayers (‘Guidelines’). It appears that these Guidelines are directed towards certain taxpayers who are...

By way of two detailed decisions released on October 19, 2022, a three-judge bench of the Supreme Court of India has revisited the entire law governing income tax exemption for charitable activities in India.These decisions have examined the statutory provisions which have been in vogue for...

Reacting to the judicial ruling opining against its stand, the Government of India proposed to amend the provisions of the Income Tax Act, 1961 (“Act”) to bring to tax the amount of royalty/license fee etc. earned by the States from their undertakings. This proposal, which was accepted by...

The demand for oil and natural gas in the country is directly proportional to the growing population and changing consumption trends. The case for India is no different. Even though the emphasis is on shifting to consumption of non-conventional sources of energy, oil and natural gas continue to...

Whether or not refund is due to an assessee, is in itself a vexed question which requires judicial determination and appellate endorsement. Whether or not interest is payable on such refund, is no lesser vexed question. While in common law it is well settled that interest is payable for...

An inquiry into the innate nature of a tax presupposes examination of an intricate web of variables, which on most occasions results into raging debates. For examples, whether a tax on service provider is a tax on service or a professional tax, whether a tax on capital value of assets is same as...

The Government of India submitted the ‘Direct Taxes Code' Bill, 2010 the Parliament in August, 2010. The Code, expected to come into force from the next financial year i.e. 1st April 2012, is not just a regular amendment but replaces all the existing direct tax laws in India. The drafters have...

There is an ongoing extensive debate, virtually touching each jurisdiction, regarding the levy of taxes on digital services. Each country, especially the Source countries which have an extensive consumer base of digital services, is grappling with the increasing pressure to tax such services...

The Union Finance Minister presented before the Indian Parliament the Budget for Financial Year 2022-23 on February 1, 2022. Amidst the various tax proposals introduced in the Budget, the most talked about were the proposals to tax crypto-assets. Of course one can expect certain changes (by way...