27 Feb 2018

From a tax perspective, 2017 was eventful for India. It witnessed application of GAAR (General Anti Avoidance Rules) from April 1, 2017, shifting of the indexation base year from 1981 to 2001[1] for the purpose of capital gains taxation, reduction in corporate tax rate to 25 % for companies having a turnover less than INR 50 Crores among various other tax reforms.>>

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05 Aug 2016

The government’s efforts to make India more business and investment friendly involve structural changes, regulatory amendments as well as a thrust on economic diplomacy. The Draft Model for India’s Bilateral Investment Treaty (“BIT”) released by the government in 2015 is one more instrument that has significant potential to attract foreign investment into India while also encouraging Indian businesses to expand globally.>>

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23 Jul 2014

“Every tax ought to be so contrived as both to take out and keep out of the pockets of the people as little as possible over and above what it brings to the public treasury of the state” wrote Adam Smith in The Wealth of Nations (Book V, Chapter II, Part II).Taxes are a critical component of any government’s revenue. Hence, the rates and collection mechanisms must be judicious so that taxpayers are not overburdened. That alone will ensure improved tax collections- which is one of the avowed objectives of the transition to a GST regime.>>

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15 Jun 2014

The service sector accounts for more than 50% of India’s GDP and hence the study of tax on services is of great relevance. As and when it comes into effect, the GST regime is expected to subsume service tax. Therefore, issues in the present scheme of things under service tax may impede functional efficiency of the new GST regime.>>

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