The long wait for a harmonised indirect tax system in India will soon be over with the introduction of Goods and Services Tax (GST) system from July 1, 2017. After the passage of four GST Bills (Central GST, Integrated GST, Union Territory GST and GST Compensation to States), the state ...

As SEBI cracks down on the business of P-Notes and the tax department follows up on the use of cash for generating unaccounted incomes, it comes as a surprise that the grey market for shares thrives unfettered.  It is fairly common for major newspapers to quote the premium offered on ...

With the passage of the Constitution 122nd Amendment Bill in the Rajya Sabha in August 2016 and the setting up of GST council, many hoped that the design and structure of Indian GST will be taking shape soon. However, instead, the basic structure of GST has weakened with the proposal ...

The versatile shell companies serve not just as vehicles for corporate tax dodging but have also been used by the rich to get around paying hefty alimony payments. The existence of shell companies is not recent and its rather innocuous beginnings can be traced back to 1960s when Walt Disney ...

Since the constitution of GST Council on 12th September, 2016, commendable progress has been made towards implementation of this major tax reform in the country. GST council has already arrived at a consensus on the most contentious issue in GST design, i.e., the rate structure. The mechanism of compensation ...