Whenever any amendment is proposed at the GST Council Meetings, it has a history to it, which when understood makes the intention clearer. In this article we would be trying to understand the proposed increase in the rate of GST to 18% in relation to the licensing services to broadcast and show original films, sound recordings, radio and television programmes.

The Indian GST law has a lot of complications due to our federal structure, like requirement of identifying the State to which the...

Introduction

Coronavirus (COVID-19), a virus that grew stealthily from the end of 2019 has become one of the deadliest viruses that is killing people worldwide. The normal life in India was disrupted due to lockdown, restrictions on commutation etc. due to covid. It affected almost all the industries in India and the second wave of COVID-19 in India (during 2021) has an increased death rate comparing to the previous. Further, more than the infection from the disease, the financial burden...

The Union expected better tax revenues with the introduction of GST. The States though were divided on this, with some of them expecting better revenues whereas the others expecting a fall due to the consumption-based accrual of revenue. However, with the introduction of GST, the revenues were not very encouraging and many reasons could be attributed to this, both controllable and inevitable reasons. The inevitable reasons could be the economic condition, pandemic situation, etc. The...

Introduction

Taking another step towards the goal of increasing “Ease of doing business” in India and providing relief to small taxpayers; the GST Council in their 42nd Meet on 5th October 2020 proposed a quarterly return filing system for small taxpayers to be implemented w.e.f. 1^st January, 2021. QRMP or Quarterly Return Monthly Payment Scheme is an optional scheme that CBIC has rolled out for small scale businesses having aggregate turnover up to 5 crore rupees to furnish return on...

The retrospective amendments and their impact on the certainty of tax laws is one major factor for attracting investments to India. This was highlighted in the Vodafone Issue where Rs.22 thousand crores demand by the Income tax department was held to be inequitable unfair as per the DTAT as held by the International court. This has again happened now in the recent Cairn’s issue where the international courts have not favoured retrospective practice and awarded Rs.740 crores.  

The...