NITYA Tax Associates is proud to present their recent write-up in the ‘Article’ series on trending indirect tax issues. A gist of the next article in the series is as under:

 Article 41 – “Contractual obligations vis-à-vis Indirect Taxes: An unaccomplished legislative agenda”

Section 64A of the Sale of Goods Act, 1930 is the standalone provision dealing with the issue of liability of tax burden on seller or buyer in case of change in taxes. The primary issue which arises for consideration is who shall be liable to reimburse Indirect Taxes in a situation of imposition, remission and change in taxes.

 Through this article, our Managing Partner, Mr. Puneet Bansal and Senior Associate, Mr. Sourabh have examined the applicability of Section 64A on imposition, remission and change in taxes under GST regime, jurisprudence under erstwhile laws and issues that remain cloistered by the legislature.

Please click  below link to read our article titled “Contractual obligations vis-à-vis Indirect Taxes: An unaccomplished legislative agenda“ on the issue.

NITYA I Article 41 I Contractual obligations vis-à-vis Indirect Taxes An unaccomplished legislative agenda