Cryptocurrency in India: To ban or not to ban

By: Aman Kumar Yadav Introduction Cryptocurrencies are digital representations of value that can be stored and transferred digitally. Simply put, it is a type of digital currency or a medium of exchange just like the US dollar. They function autonomously, unencumbered by traditional banking and government oversight. Countries have repeatedly attempted to implement measures to regulate Cryptocurrency or ban it altogether. This article analyzes India’s … Continue reading Cryptocurrency in India: To ban or not to ban

GST: One Step Towards Simplifying The Tax System Of India

By: Ayushi Raghuwanshi INTRODUCTION The passing of the Goods & Services Tax bill has created history in the Indian taxation system. It is a significant breakthrough in the taxation system of India, being the single biggest tax reform. Change is fundamental to growth; the complexities involved in the indirect taxes both at the Central and State level demanded change which has now been brought about … Continue reading GST: One Step Towards Simplifying The Tax System Of India

Composition Scheme Under Goods And Service Tax: Testing The Utility

By: Tushar Behl Introduction Being one of the most innovative tax reforms, the “Goods and Services Tax” (hereinafter GST) contemplates on putting a stop to all other indirect tax procedures and authorities in order to bring uniformity and flexibility in the taxation policy. In order to curb the struggle with regard to compliance with statutory provisions and in support of its procedural simplicity, the Central … Continue reading Composition Scheme Under Goods And Service Tax: Testing The Utility

GST and the ‘Manufacturing’ Sector – The Challenges Ahead

By: Aradhana & Abhishek Kumar Introduction The manufacturing sector of a nation serves as a base for its economy. The Union budget of 2015 focused towards the expansion of this very sector by means of various incentives and concessions but the important question, in this regard, is whether such steps on part of the Union Government could harness the “real growth” of this sector. The … Continue reading GST and the ‘Manufacturing’ Sector – The Challenges Ahead

GAAR: The Way Ahead

By: Suhas Sagar The field of taxation has always been witness to the eternal cat-and-mouse game between taxpayers and tax authorities. Nowhere is this contest more pronounced than in India. As taxpayers keep devising newer ways of mitigating their tax liability, the tax authorities respond with their own weapons – retrospective amendments and high pitched tax assessments displaying a rather adversarial state of mind. The … Continue reading GAAR: The Way Ahead