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INTRODUCTION: India Inc has witnessed a great transformative fiscal journey since the transition was made from the erstwhile legacy indirect tax regime to the new GST Regime in 2017. Litigations on GST have gradually started kicking from both a factual and legislative perspective. The most astounding and puzzling litigation of…

EXECUTIVE SUMMARY Notifications: Goods and Service Tax Notification No. 17/2022 – Central Tax dated 01.08.2022 This notification seeks to amend aggregate turnover threshold of e-invoice applicability for a registered taxpayer. With effect from 01.10.2022, if a registered taxpayer has an aggregate turnover of INR 10 Cr in any of the…

EXECUTIVE SUMMARY Notifications: Customs, FTP and SEZ Notification No. 47/2022 – Customs – dated 07.09.2022 This notification seeks to amend Notification No. 56/2000 – Customs dated 05.01.2000 (which provided for exemption of BCD and Additional Duty on import of gold and silver under the scheme for export of gold/      silver…

EXECUTIVE SUMMARY Notifications: Customs, FTP and SEZ Notification No. 67/2022- Customs (N.T.) dated 08.08.2022: Introduction of Passenger Name Record Information Regulations, 2022. This will come into force from the date of publication in the Official Gazette Notification No. 68/2022- Customs (N.T.) dated 12.08.2022: This notification seeks to amend the Tariff…

EXECUTIVE SUMMARY Notifications: Customs, FTP and SEZ Notification No. 69/2022 – Customs (N.T) dated 22.08.2022 Introduction of Customs (Compounding of Offences) Amendment Rules 2022. This will come into force from the date of publication in the Official Gazette.   Notification No. 28/2015-20 dated 25.08.2022   This notification seeks to amend…

FACTS OF THE CASE: The Government of India had issued an Office Memorandum (O.M) in 2003 based on the statement made by the Hon’ble Prime Minister, during his visit to Uttranchal (now Uttarakhand) in March 2002 which provided that for the States of Uttaranchal and Himachal Pradesh, new industrial units…

INTRODUCTION The introduction of GST was not just a tax reform. It was more of an amazing economic reform that brought about the concept of One Nation One Tax. GST as an ecosystem enabled India Inc., to take business decisions without really having to look for tax impacts as One…

Summary of Notification 18/2022: The Notification sets out that sections 100 to 114 of the Finance Act 2022 shall take effect from 1st of October 2022 with the exception of Clause (c) of Section 110 and Section 111. The Summary of the provisions which shall be effective from 01.10.2022 are…