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 April 2024 to June 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 April 2024 to June 2024.

April 2024 to June 2024
Supreme Court (SC) rulings

SC on validity of perquisite valuation of interest concession

High Court (HC) rulings

Delhi HC grants TDS credit though not paid

Delhi HC rules on corportate guarantee charges

Tribunal rulings

Delhi Tribunal ruling on safe habour rules

Delhi Tribunal ruling on keyman insurance policy

Tribunal on withholding on transaction between bank and NBFCs

Tribunal ruling on premium received on redemption

Kolkata Tribunal ruling on taxability of salary income

Tribunal ruling on exemption to individual partners from tribes

Administrative developments

CBDT clarification on inter-trust donations

GoI notification to give effect to MFN clause

India Mauritius DTAA protocol signed to include PPT

CBDT's relief to payers where payee linked PAN with Aadhaar

CBDT's further extension of compliance by charitable institutions

April 2024 to June 2024
Goods and Services Tax (GST)

Statutory updates

CBIC guidelines on initiation of recovery proceedings

CBIC guidelines on investigations initiated under GST

53rd GST council meeting recommendations

CBIC circulars pursuant to Council meeting

Case laws

HC upholds validity of GST notifications extending time limit

HC stays operation of a circular clarifying corporate guarantee

HC upholds validity of provisions restricting ITC

HC on IGST not leviable on inbound ocean freight

HC allows refund of IGST paid on consignment basis exports

HC on proceedings initiated by more than one tax authority

HC on timeline for claiming ITC

Other than Goods and Services Tax (GST)

Statutory updates

Depart. of Commerce's clarification on Rule 11B of SEZ

DGFT extends RoDTEP scheme till 30 September 2024

Case laws

CESTAT classifies charter of aircraft as air transport

HC quashes customs instruction mandating review of MOOWR

April 2024 to June 2024
PAS news

HC ruling on international workers provision under PF laws

Labor Depart. issues notification exempting Standing Orders

FEMA

Regulations of Indian companies listed on GIFT-IFSC

RBI permits NRs to open interest-bearing accounts

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

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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.