Tax Digest

Our quarterly newsletter that summarizes significant tax and regulatory developments

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We are pleased to present the latest edition of our quarterly newsletter, Tax Digest, which summarizes significant tax and regulatory developments during January 2024 to March 2024.

This newsletter is designed as a ready reckoner and covers landmark tax judgments, updates on tax treaties and alerts on topical developments in the tax arena. It also details key thought leadership reports and other topics of interest for tax professionals.

Click on the links in below sections to access various tax and regulatory developments during January 2024 to March 2024.

January 2024 to March 2024
Supreme Court (SC) rulings

SC on discount on prepaid SIM cards and recharge coupon vouchers

High Court (HC) rulings

Madras HC grants FTC on delayed filing of Form 67

Delhi HC on demand raised subsequent to NCLT plan

Bombay HC allows 6% interest on refund of Equalisation Levy

Madras HC upholds sustainability of prosecution proceeedings

Delhi HC on fees paid to US co for domain name registration

Bombay HC on RBI license not a pre-requiste to claim treaty benefit

Delhi HC rules on holding MD as Principal officer

Tribunal rulings

Kolkata Tribunal rules on FTS from Indian affiliate for services in India

Mumbai Tribunal on LTCL claim on cancellation of shares

Delhi Tribunal holds non-renewal not amount to termination

Mumbai Tribunal rules on the situs in relation to Channel in India

Administrative developments

CBDT guidelines on withholding tax on e-commerce transactions

CBDT order on remitting petty tax demands

January 2024 to March 2024
Goods and Services Tax (GST)

Statutory updates

CBIC extends time limit for order under S. 73(9) of CGST Act

Case laws

HC holds GST Compensation Cess is not exempt on import of goods by SEZ

HC holds GST audit cannot be conducted after cancellation of registration

HC holds interest not leviable on delayed filing of GSTR 3B

Delhi HC upholds constitutional validity of anti-profiteering provisions under GST

HC holds on transfer of development rights by landowner to developer under JDA

HC holds export benefit cannot be denied where proceeds received in INR

HC holds post-supply discount given by manufacturer is not includible in dealer’s value

Other than Goods and Services Tax (GST)

Statutory updates

CBIC extends validity of various exemptions under Customs Act

Case laws

HC holds service tax not leviable on recovery of expenses by VCF

January 2024 to March 2024
Gratuity

Karnataka Compulsory Gratuity Insurance Rules, 2024 notified

FEMA

New FEMA Manner of Receipt and Payment Regulations

FDI policy liberalized in space sector

Direct listing of shares in GIFT-IFSC

Union Budget 2024

Our team of senior tax and policy professionals decodes and analyzes various aspects of Interim Budget 2024.

Economy Watch

Economy Watch provides an in-depth review of salient developments in India’s macroeconomy and economic policy in a global context.

Doing Business in India

Your guide on tax and regulatory framework in India to enable ease of doing business.

Our latest thinking

Contact us

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This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.