-
Addressing the Anomaly: Dishnet Case and Validity of Reassessment Notices predating the Resolution Plan after it’s approval
[By Chirag Motwani] The author is a student of Hidayatullah National Law University, Raipur. Introduction: To enhance the corporate governance regime in India, the Insolvency and Bankruptcy Code, 2016 (IBC) was enacted. The primary purpose of the act was to look upon the financially distressing entities and their revival as a foremost objective. IBC…
-
Navigating Pre-Deposit Requirements: Transition from Central Excise to GST Regime
[By Dhwanil Tandon] The author is a student of Gujarat National Law University, Gandhinagar. Introduction Section 35F of the Central Excise Act, 1944 mandates that the Tribunal or the Commissioner (Appeals), as applicable, shall not entertain any appeal under the act unless the required pre-deposit is made, terming its absence as a defect. With…
-
Applicability of Equitable Doctrines in Withdrawal of Tax Exemption Benefits: A Judicial Analysis Pre- and Post-GST Regime
[By Vaisiya Ramya B.] The author is a student of Tamil Nadu National Law University (TNNLU). Introduction: In the pre-GST regime, the government to promote the investment and manufacturing sector rolled out various area-based excise and Value Added Tax (VAT) exemption schemes through the power conferred under section 5A (1) of the Central Excise Act,…
-
Analysing the Conflict Between Detention Certificates and Right to Demurrage
[By Jaipreet Singh Alag] The author is a student of Rajiv Gandhi National University of Law, Punjab. Introduction With the advent of the Delhi High Court’s judgement in the case of Bhavik S. Thakkar v. Union of India, a debate has started between the power of the customs authority to issue detention certificates and…
-
India’s Digital Tax Odyssey: Charting a Course in the Intangible Economy
[By Trilok Choudhary & Arya Tiwari] The authors are students of Gujarat National Law University. INTRODUCTION Digitization has transformed the business landscape, blurring the boundaries between physical and virtual realms. As businesses navigate this digital frontier, so must tax policies evolve to ensure a fair and equitable taxation framework that captures value in an…
-
Taxation of Cryptocurrencies as Rewards from Online Gaming
[By Tanya Verma] The author is a student of Dr. Ram Manohar Lohiya National Law University. INTRODUCTION In the Budget 2022, the Finance Minister introduced a provision to impose income tax at a rate of 30% on profits obtained from the transfer of virtual digital assets (VDAs), although a clear provision still lacks, an…
-
The Implications of Finance Bill 2023 on Online ‘Gam(bl)ing’: An Income Tax Perspective
[By Reet Balmiki] The author is a student of NALSAR University of Law. Introduction With the Union Budget 2023-24 being presented, the Finance Bill 2023 proposed key amendments to the provisions concerning the taxability of winnings from gambling under the Income Tax Act, 1961 and introduced separate provisions to govern online ‘games.’ This move…
-
Taxability of Pre-GST Government Works Contracts: Resolving the Differential Tax Liability Conundrum
[By Abhishek Bhatra] The author is a student of National Law University and Judicial Academy, Assam. Introduction The treatment of Works Contract in the Pre-Goods and Service Tax (GST) era subjected the Service Provider to a variety of indirect taxes such as Service Tax, Value Added Tax (VAT), and Central Excise. However, if the…
-
Reimbursements as consideration: The perplexed situation of secondment issues
[By Priyansh Sharma & Sejal Gupta] The authors are students of Institute of Law, Nirma University. Introduction Unleashing the power of collaboration across geographical boundaries, secondment of employees has become a prevailing tradition between entities spanning different locations to send employees over, be it for temporary ventures or on project basis. However, amidst this…