India TaxHour - Quarterly tax updates

Date: 16 January 2025 11:30 a.m. India time

Our update for this quarter (October – December 2024) will cover the tax landscape and keep businesses abreast with:

• Important economic developments
• Income tax – Developments on dispute resolution under Vivad Se Vishwas Scheme, 2024 and an update on Most Favoured Nation (MFN) clause under India-Switzerland tax treaty 
• Indirect tax – Key amendments under the Indirect Tax laws and update on the recent GST Council meeting 
• Key judicial rulings

Subject matter experts:

• Richa Gupta
• Farheen Butt
• Smita Parulkar
• Alpa Shah

Date: 3 July 2024 11:30 a.m. India time

Our update for this quarter (April – June 2024) will cover the tax landscape and keep businesses abreast with:

• Important economic and regulatory developments
• Income tax – Updates on protocol amending India Mauritius tax treaty, reassessment procedures, anti-avoidance rules, etc.
• Indirect tax – Updates on GST council meeting, guidelines on GST demand proceedings and other indirect tax related updates agreements, etc.
• Important judicial rulings
  

Subject matter experts:

• Ashutosh Dikshit
• Promod Batra
• Ayush Moodgal
• Hiren Shah

Date: 3 April 2024. 11:30 a.m. India time

Our update for this quarter (January–March 2024) will cover the tax landscape and keep businesses abreast of following tax developments:

• Important economic and regulatory developments
• Income tax – Withdrawal of small outstanding direct tax demands, implementation of e-verification scheme, etc.
• Indirect tax – GST and Customs updates, Remission of Duties and Taxes on Exported Products (RoDTEP) scheme extension, free trade agreements, etc.
• Important judicial rulings

Subject matter experts:

• Ashutosh Dikshit
• Chandraprakash Surana
• Anoop Kalavath
• Madhu Agarwal

Date: 5 January 2024

Subject matter experts: Ashutosh Dikshit, Monika Arora, Himanshu Patel, Geeta Bhatia

Our update for the quarter (October–December 2023) will keep businesses abreast about the tax landscape covering:

• Economy, international tax and regulatory developments
• Income tax – Reopening of past assessments, new guidance on withholding tax refunds, opting for concessional tax regime, etc.
• Indirect tax – GST Council recommendations and notifications, Customs & SEZ amendments, updates on the Production Linked Scheme (PLI) etc.
• Important judicial rulings

Date: 4 October 2023

Subject matter experts: Ashutosh Dikshit, M. S. Mani, Hema Lohiya, Kaushik Saranjame

Our update for this quarter (July–September 2023) will cover the tax landscape and keep businesses abreast of following tax developments:

• Economy, international tax and  regulatory developments
• Income tax – Electronic filing  for availing lower tax treaty rates, amendments to rules regarding valuation of share premiums, valuation of residential  accommodation etc.
• Indirect tax – 50th GST Council meeting-circulars and notifications, import curbs on IT-hardware etc.
• Important judicial rulings

Date: 6 January 2023

Subject matter experts: Ashutosh Dikshit, Amit Sarker, Jatin Kanabar, Anita Nair

Our update for this quarter (October–December 2022) will cover the tax landscape and keep businesses abreast of following tax developments:

Significant economic and regulatory developments
Income tax – Faceless appeals – the Journey so far, proposal for new common income tax return form, etc.
Indirect tax – Updates from GST Council meeting, CCI notified as new anti-profiteering authority, etc.
Important judicial rulings

Date: 6 July 2022

Subject matter experts: Ashutosh Dikshit, Ashesh Safi, Jimit Shah, Madhava Yathigiri

Our update for this quarter will cover the tax landscape, to keep businesses abreast of tax developments, which will include:

Significant Economic and Regulatory developments.

Income-tax - updates on reassessment provisions, guidelines issued for implementing the new TDS on benefits/perquisites, circular on resolving cross-border disputes through the Mutual Agreement Procedure (MAP) etc..

Indirect tax- updates on the 5-year journey of GST, GST tax audits etc..

Important judicial rulings.

Date: 6 April 2022

Subject matter experts: Ashutosh Dikshit, Bahroze Kamdin, Mamatha Anand, Vijay Dhingra

Our update for this quarter will cover the tax landscape, to keep businesses abreast of tax developments, which will include:

Updates to the Finance Bill 2022 and income-tax circulars on the Most Favored Nation clause in tax treaties, taxation of ULIPs, etc.
Indirect tax developments, covering recent GST changes and updates on the Production Linked Incentive (PLI) schemes.
Significant judicial rulings on corporate tax and indirect tax issues.

Date: 19 January 2022

Subject matter experts: Ankit Goel, Hardik Gandhi, Karishma Phatarphekar, Rajesh Gandhi

With India achieving a 140 crore vaccination record (almost 50 percent of the population has been fully vaccinated in the October– December 2021 quarter), the GDP growth of the Indian economy is on a rise. Our update for this quarter will cover the tax landscape to keep businesses abreast of:

• Economic and regulatory updates, including enhanced governance for RPTs under SEBI’s Listing Regulations, FAQs released on SEBI (Share-based Employee Benefits and Sweat Equity) Regulations, 2021, and an update on the FDI policy.

• Income tax developments, including CBDT clarifications issued on TDS and TCS provisions, recent court rulings on controversies on reassessment proceedings, contribution to employee welfare funds and allowability of education cess, Transfer Pricing updates like assessment cycles and APA programmes, etc.

• Indirect tax developments covering recent GST changes on availing input tax credit, experience on department feedback on export of services post issuance of GST circulars on intermediary services and exports to related persons, and recent court rulings.

Date: 15 April 2021

With Budget 2021 slated to be passed by the end of March, businesses will be keen to understand the impact of key tax provisions as well as other important developments in the tax landscape for the quarter ending March 2021.

Tune in to understand the implications of the tax developments in the January-March 2021 quarter that includes the following highlights:

• Key budget amendments covering equalisation levy, depreciation on goodwill, new institutions and procedures for advance rulings and settlement of tax dispute, etc.
• Indirect tax updates covering GST E-invoicing, advance rulings for customs, etc.
• Important judicial rulings including the Supreme Court’s ruling on taxability of software as royalty

The subject matter experts for the session are:
• Ashutosh Dikshit
• Atul Gupta
• Ketan Ved

Date: 15 April 2020

A slew of developments in the tax landscape over the first three months of 2020 could significantly impact your business.

Tune in to understand the business implications of the following developments:

• Select issues emanating from government amendments while enacting the Finance Bill, 2020
• Select changes emanating from the BEPS project and the MLI which come into effect from April 2020 in India’s major tax treaties
• Recent court rulings under direct tax laws and key notifications, circulars, and schemes 
• Recent court rulings on GST and other indirect taxes along with an update on key decisions of the GST Council, notifications, circulars, and schemes

Our Subject Matter Experts for the session are:

• Ashutosh Dikshit
• Gulzar Didwania
• Himanshu Patel 
• Pravin Agrawal

Date: 22 January 2020

The final quarter of 2019 has brought in some significant tax changes which have multiple effects. Tune in to understand the business implications of the following developments:

• Recent direct tax rulings on issues relating to taxation of goodwill, tax exposure of Liaison Offices, interplay between amendments in domestic tax law and existing tax treaty provisions, Dividend Distribution Tax, etc.
• Key tax updates including the changes introduced in 'The Taxation Laws (Amendment) Act 2019' as compared to 'The Taxation Laws (Amendment) Ordinance 2019'
• Key issues relating to claiming weighted deduction on salaries paid to new employees-the only significant tax incentive now available under the lower corporate tax rate regime brought about by the 2019 Ordinance
• Key changes in the indirect tax landscape - push towards e-invoicing, implications of the WTO recommendations on India's export subsidies, automated refunds and other key updates

Our Subject Matter Experts for the session are:

• Ashutosh Dikshit, Direct tax and Tax Policy
• Jimit Devani, Direct tax
• Prashanth Bhat, Indirect tax
• Rashmi Maskara, Direct tax

Date: 23 October 2019

The second quarter of 2019 has witnessed seminal changes in the areas of direct and indirect taxation that can impact your business.

Tune in to understand the business implications of the following developments:

• Important direct tax circulars and notifications
• Practical insight pertaining to the impact of Multilateral Instruments (MLI) in case of some tax treaties
• Recent direct tax rulings on re-characterisation of compulsorily convertible debentures into equity shares, and taxation of shareholders in case of non-compliant conversion of company into LLP
• Recent indirect tax case laws, circulars, and notifications on issues related to intermediary services, secondary or post sales discount, in bond manufacturing etc. under GST

Date: 7 August 2019

The tax landscape has witnessed a spate of developments in the quarter that went by. These changes could have a bearing on your business and tax processes.  

Join us on the webcast to understand the business implication of the following developments:

• Recent changes in tax laws -

– Ratification of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting Instrument (MLI) by the Indian Government.

– Recent developments in customs 

– E-invoicing system under Goods and Service Tax (GST)

– Key changes in the new GST returns format and the return filing system

• Recent direct tax rulings on -

– Business restructuring transactions. 

– Fees for Technical Services (FTS). 

• Deductibility of goodwill amortisation.
• Beneficial ownership of shares and impact on carry forward of tax losses. 

Date: 24 April 2019

The tax landscape is shifting and yielding a fundamentally different future. There have been a slew of developments in the first three months of 2019, which can significantly impact your business.

Tune in to understand the business implication of the following developments:

• Recent rulings on fees for technical services, taxability of share premium, tax sparing credit, permanent establishment
• Recent notification with respect to angel-tax exemption issued by the Central Board of Direct Taxes and Department for Promotion of Industry and Internal Trade
• Anti-profiteering and advance rulings on varied issues
• Recent GST notifications and Circulars and GST Amendment Act

Date: 9 January 2019

Today’s tax and business environment is characterised by volatility and change. Through this session, our effort is to provide you with broader perspectives to help you assess and respond to emerging issues from multiple angles.

Tune in to understand the business implication of the following developments:

• Recent court ruling on GAAR;
• Fees for technical services;
• Allowability of non-compete fees
• Recent advance rulings in relation to tax positions of the outsourcing/ BPO, financial services, telecom sector;
• Key amendments/ clarifications and other advance rulings in context of canteen services and lottery business;
• Key notifications/ circulars issued by the Central Board of Direct Taxes.

Date: 10 October 2018 

The tax landscape is changing rapidly. Regulatory changes, increased information requirements, technological advancements, organisational scrutiny, and efficiency expectations— everything about the tax world is in flux. In a tax environment of competing, and sometimes, conflicting demands, Deloitte Tax is here to deliver greater clarity–to lead with confidence.

The income-tax jurisprudence on permanent establishments continue to be in the limelight; more changes and advance rulings on GST could be expected.