Apex Court upholds the arrest provisions under Customs and GST with emphasis on the need for procedural rigor and fairness to exercise such powers

Key reforms introduced under the International Financial Services Centre Authority (Fund Management) Regulations, 2025

Mauritius DTAA eligibility vis-à-vis Grandfathering

CBDT Issues Guidance on the application of Principal Purpose Test (PPT) under Tax Treaties

SC holds that loss on capital reduction is allowable -Capital reduction akin to extinguishment or relinquishment and thus results in transfer of shares

No GST on Assignment of Leasehold Rights of Plot of Land

IFSCA ISSUES NEW DIRECTIONS FOR OPERATION OF FOREIGN CURRENCY IN IFSC ACCOUNT OF RESIDENT INDIVIDUALS UNDER LRS

KEY CHANGES TO IFSCA (FUND MANAGEMENT) REGULATIONS, 2022

Recommendations of 55th GST Council Meeting

Special Bench ruling on applicability of TP provisions to transactions between Foreign company and its branch in India

International Financial Services Centres Authority (Informal Guidance) Scheme, 2024

Kerala High Court quashes GST demand over inadvertent credit reporting error, emphasizing no revenue loss

Capital reserve arising from amalgamation is not taxable under Section 28(iv)

SC UPHOLDS ADMISSIBILITY OF CENVAT CREDIT ON MOBILE TOWERS AND PREFABRICATED BUILDINGS

Rule 96(10) of the CGST Rules held as ‘unconstitutional’ as it imposes conditions not conferred by section 16 of the IGST Act, 2017

Maximum Surcharge Rate to be considered in the computation of MMR applicable to Private Discretionary Trust

Clarifications issued in pursuance of the 54th GST Council Meeting

The Ministry of Finance has recently notified amendments to the Foreign Exchange Management (Non- Debt Instruments) Rules, 2019 (‘NDI Rules’) vide the Foreign Exchange Management (Non-Debt Instruments) (Fourth Amendment) Rules, 2024 (‘Amendment’). The key amendments are summarized below:

A Guide to Understand Taxpayer’s Rights and Responsibilities

M/s BMW India Private Limited [‘BMW’] is a wholly owned subsidiary of M/s Bayerische Motoren Werke Holding B.V., Netherlands and M/s Bayerische Motoren Werke, Aktiengesellschaft, Germany [‘Collectively referred as Parent Company’]. The parent company is engaged in the business of the manufacture and sale of ‘BMW cars’ outside India.