A dead claim of interest, coming alive? – 2.0 The levy of “interest” often poses interesting disputes and GST law is not an exception. Interest is compensatory in nature and imposed on a taxpayer who withholds payment of tax beyond prescribed time limit. The...
Advance Ruling under GST – Confusions galore Certainty and predictability are essential pillars of a good taxation system. Unfortunately, the tax legislations are marred by numerous interpretational issues leading to unintended disputes between taxpayers and tax...
THE GREAT INDIAN TRADE WALL: A CASE OF MEASURED PROTECTIONISM – ANALYSIS OF INTERNATIONAL TRADE MEASURES IN BUDGET 2020 The Union Budget 2020 may not be remembered as an epochal budget like Budget 1991, but it will certainly be remembered for effecting a...
ITC on construction expenses – A macro outlook on bones of contention!!! Eligibility of input tax credit (ITC) has been the most debated topic in Indian Indirect Tax laws. Logically, the ITC framework should be wide in ambit with least exceptions. Yet, the law makers...
Taxation of Automobiles –A discourse on the eternal tug for taxes between States In India, the taxation system is based on fiscal federalism i.e. the Centre and State have independent taxing powers. Some taxes are levied by the Centre but collected and assigned to...
GST on Ocean Freight held unconstitutional! – Another retrospective amendment in making? NITYA Tax Associates is proud to present their recent write-ups in the ‘Article’ series on trending GST issues. A gist of the next article (Article 32) in the series is as...
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