Articles by Vivek Jalan

CBDT redefines intra-group loans and amends safe harbour norms for MNC group transactions

Vivek Jalan 04 January 2024 at 08:38

The CBDT vide Notification No. 104/2023 dated December 19, 2023, issued the Income-tax (Twenty-Ninth Amendment) Rules, 2023, amending Rules 10TA and 10TD of the Income Tax Rules, 1962 ("the IT Rules").

Minimum thirty days to be provided to reply to a GST SCN

Vivek Jalan 27 December 2023 at 14:21

Going to Tribunal under GST requires 30% pre-deposit. Moving to High Court in each case requires hefty charges which may be affordable in some cases but not in all cases.

Higher GST charged by the Vendor: ITC as well as refund available to the recipient

Vivek Jalan 27 December 2023 at 08:56

Consider the situation where the input product was chargeable only at the rate of 5% and assesses supplier mistakenly charged higher rate of 18% GST on input for final product, which is chargeable to lower rate of GST of 5%

Conditions for Blocking ITC u/s 86A Demand Strong Cases and Due Process for Taxpayers

Vivek Jalan 22 December 2023 at 09:26

Blocking of ITC u/s 86A is possible only when the officer has a strong case; opportunity of being heard has to be provided to the taxpayer also

Department's Interest Timer on Tax Refunds Post-Appellate Victory at 60 Days

Vivek Jalan 19 December 2023 at 15:16

Department's interest meter on refunds keeps ticking after 60 days of application... if taxpayer wins in appellate proceedings

Litigation on RCM on Expat Salary: Northern Operating Systems Case under GST - High Courts and CBIC Intervene

Vivek Jalan 18 December 2023 at 07:47

After the decision of The Hon'ble Supreme Court in Northern Operating System in the Service tax regime, across the Country taxpayers are calculating their exposure under GST.

CSR expenditure is allowable u/s 80G of IT Act - On the maxim of 'Expressio Unius Esl Exclusio Alterius'

Vivek Jalan 13 December 2023 at 14:31

Allowability of CSR expenditure has been sealed after Explanation 2 to Section 37(1) was inserted in the Income tax Act 1961 w.e.f. 1.4.2015.

Role of Compensatory Penalties in Business Regulation and the Pitfalls of Punitive Measures

Vivek Jalan 12 December 2023 at 14:33

Penalty is allowed if it is compensatory and teaches the assessee how to run its business in future. It is disallowed if it is a punishment for intentional violation of a law

Exploring the Resale Method in Transactions with Limited Value Addition by Distributors

Vivek Jalan 08 December 2023 at 15:10

Resale method appropriate in Transfer Pricing where there is no Value Addition to traded goods by the distributor

Strategic Considerations in Capital Asset Transfers: Pre and Post AY 2017-18 Perspectives

Vivek Jalan 07 December 2023 at 09:05

Determination of date of transfer of capital asset before and after AY 2017-18... where two AYs are involved