Section 168A Of CGST Act, 2017 – Invokable Or Not?

1. A large number of Show Cause Notices (SCN) have been issued under Section 73 of the Central/State Goods And Services Tax Act, 2017 (“CGST”/”SGST”) for the Financial Year 2017-18 in the month of September 2023.2. In this regard, the Department is apparently relying upon Notification No. 9/2023 Central Tax dated 31.03.2023, issued by the Central Government, in terms of Section 168A of the CGST Act, under which the time limit specified under Section 73(10) for issuance of Order under...

Decoding ESG For Start-ups

What is ESG? ESG are a set of standards that are used to evaluate an organization’s non-financial performance. The standards rest on three pillars, ‘E’ for Environmental, ‘S’ for Social and ‘G’ for Governance. According to the 2021-22 Economic Survey, India has the third largest startup ecosystem (over 100,000 startups) in the world following after US and China. However, only 7% of startups have a net zero (emission of greenhouse gases being balanced by removal) plan in place....

Concurrent Tax Investigations: A Legal Analysis Of Parallel Proceedings In GST Framework

India has adopted the dual GST model because of its unique federal nature. Under this model, tax is levied concurrently by the Centre as well as the States on a common base, i.e. supply of goods or services, or both. GST to be levied by the Centre is called Central GST (Central tax / CGST) and that levied by the States/Union Territories is called State GST (State Tax/SGST)/ UTGST (Union Territory Tax).In the intricate tapestry of India's GST framework, the emergence of concurrent tax...

“FULL INPUT TAX CREDIT” Under The Second Proviso To Rule 28 Of The Central Goods & Services Tax Rules, 2017 – An Unachievable Farce?

An issue that often riddles taxpayers under the GST regime is the value to be adopted for the purposes of discharging applicable GST on supplies of goods and/or services between related parties or distinct persons, even when made without consideration, as mandated in terms of Section 7(1)(c) of the Central Goods & Services Tax Act, 2017 (‘CGST Act’) read with Entry 2 of Schedule I to the CGST Act.Section 15 of the CGST Act provides that the price actually paid or payable for the supply shall...

Development Agreements For Residential Plots/Bungalows In Delhi-NCR

The Real Estate sector is one of the most crucial economic sectors of the Indian Economy. An average Indian adult’s economic and lifestyle choices are mirrored by the environment of the Real Estate Sector, as when there is more fiscal and financial opportunity available to the average Indian adult, their choices are usually centred around Real Estate which includes purchasing a new property, renovating existing current property, etc. Despite the stalemate of the post-COVID economic environment,...

Deepfakes And Breach Of Personal Data – A Bigger Picture

On November 07, 2023, a day after a licentious video of actor Rashmika Mandanna surfaced on several social media platforms, she came out decrying about its authenticity. The actor’s face unwittingly had been superimposed on the body of a British Indian influencer. This is an example of what is called a ‘Deepfake’ video because of the Artificial Intelligence tools used to manipulate the images and videos. The new images thus created are a form of disinformation and whether they are...

Status Of Homebuyers Who Are Decree-Holders As Financial Creditors Under Indian Insolvency Regime

The real estate sector has exponentially boomed over past decades; however, it has suffered from unprecedented challenges in the wake of the COVID- 19 pandemic. As per the Report of Expert Committee which was constituted by Ministry of Housing and Urban Affairs to examine the issues related to Legacy Stalled Real Estate Projects, published in July, 2023, there are approximately 4.12 lakh stressed dwelling real estate units involving 4.08 lakh crores in these stalled real estate projects. The...

Jan Vishwas Amendments And Its Impact On The Legal Metrology Act 2009

The objective behind enacting the Jan Vishwas (Amendment of Provisions) Act, 2023 (“Amendment Act”) by the Government of India is to decriminalize and rationalize the offences to further enhance trust-based governance for ease of living and doing business. To reduce the compliance burden on individuals and businesses, the Government took the initiative to reform the archaic rules and regulations that were causing trust deficit amongst the general public and entrepreneurs.It is essential to...

Digital Courts: Future Of The Indian Legal System

“The issue is not whether a judge is tech-savvy or not. To be a judge in this country, one must be tech-friendly or else, ensure adequate training to familiarize oneself with technology. This also holds true for Supreme Court judges who have undergone training at specialized centers.”This was part of Chief Justice of India D Y Chandrachud’s recent observations during the hearing of a petition on the present status of virtual and hybrid hearings at high courts across the country. Technology is no...

Top 10 Insolvency Law Judgements [April To September 2023]

In recent times, several noteworthy judgments have been rendered by the Indian Courts and Tribunals in matters relating to the Insolvency and Bankruptcy Code, 2016 (IBC). Some decisions rendered from April to September 2023 that discuss the legal position concerning the interpretation and applicability of provisions of the IBC have been summarised below:1. RPS Infrastructure Ltd. v. Mukul KumarSupreme Court of IndiaCitation: 2023 LiveLaw (SC) 773The mere fact that the adjudicating authority has...

Top 10 Arbitration Judgments [January To September 2023]

In recent times, several noteworthy judgments have been rendered by the Indian Courts in matters relating to the law of arbitration in India. Some decisions rendered from January to September 2023 that discuss the legal position concerning the interpretation and applicability of provisions of the Arbitration and Conciliation Act, 1996 have been summarised below:1. TATA Sons (P) Ltd. v. Siva Industries & Holdings Ltd.Supreme Court of IndiaCitation: 2023 LiveLaw (SC) 39In terms of the amended...

Lender’s Dilemma: Maintain Poetic Leniency Or Plan Monetary Prudence

Banks and financial institutions are expected to provide safe, accessible, and inclusive financial services. It is expected that they not only provide loans but also render it in a manner that contributes positively to the well-being of the individual and community. In other words, banks have a compelling responsibility to comply not only with well-defined laws of money management but also be ethically sound.The recent case of suicide of the lead promoter of a Bollywood Art design studio near...