New Delhi: According to a recent statement by the industry association Assocham, the Goods and Services Tax Network (GSTN), the entity responsible for processing GST returns, is considering the release of additional tax-related data concerning geographical and industrial aspects. The Chief Executive of GSTN, Manish Kumar Sinha, expressed this potential development. A dedicated committee is … Continue reading GSTN Considers Increased Public Disclosure of GST-Related Data
Category: opinion
Uncertainty Surrounds Intermediary Services
The taxation of intermediary services has long been a topic of contention and differing opinions. Traditionally, the point at which these services were subject to taxation rested on the recipient, aligning with the prevalent global practice of place of supply. This approach was maintained until 2014 when the CBEC unexpectedly shifted its stance due to … Continue reading Uncertainty Surrounds Intermediary Services
The intertwined harmony of GST Act and the Indian Contract Act, 1872
1. Relevance to GST The cornerstone of GST lies in its direct connection to valid contracts. Every form of supply covered by GST is essentially a contractual agreement. Consequently, any transaction that fails to meet the requirements of a valid contract is automatically excluded from the treatment afforded by GST. It would be a disservice … Continue reading The intertwined harmony of GST Act and the Indian Contract Act, 1872
Pine Labs The Emerging Force in Indian FinTech, but no IPO in the current situation says CEO Amrish Rau
Pine Labs, a prominent player in the realm of digital payments, has now aligned itself with the emerging trend among technology enterprises to defer their initial public offerings (IPOs). In an exclusive interview with ET, Amrish Rau, the CEO of Pine Labs, firmly expressed his decision to withhold the planned IPO, citing the tumultuous state … Continue reading Pine Labs The Emerging Force in Indian FinTech, but no IPO in the current situation says CEO Amrish Rau
Resolving Pending GST Disputes — A Call to Action
The Goods and Services Tax (GST), a cornerstone of India’s economic reform, aimed to streamline the nation’s indirect tax structure, fostering a unified marketplace for goods and services. Yet, its success hinges on an effective dispute resolution system, a crucial element for minimizing litigation costs while ensuring efficient dispute resolution. Disputes under GST often arise … Continue reading Resolving Pending GST Disputes — A Call to Action
Arrests within the realm of GST enforcement still linger in a zone of uncertainty.
At the core of taxation lies the well-being of the populace. While indirect tax laws primarily aim at recovering revenue and imposing fines, they also grant the authorities the power to take stringent actions, including making arrests, against those who exploit the provisions of these laws. The ability to arrest an individual traces its origins … Continue reading Arrests within the realm of GST enforcement still linger in a zone of uncertainty.
Dual GST — A Discussion
The Dual GST Approach Crafting a destination-based Goods and Services Tax (GST) system presents intricate challenges in a country like India, where the authority to tax domestic trade is divided between the state and central governments. Implementing a conventional nationwide GST without undermining state autonomy is unfeasible. This dilemma is resolved through India’s adoption of … Continue reading Dual GST — A Discussion