An Analysis on the Prevention of Sexual Harassment ACT, 2013

We are witnessing an unprecedented shift in the global business landscape, driven by the acceleration of Generative AI and intelligent automation. These technologies are not merely tools, they are reshaping how businesses create, deliver and measure value. In this evolving scenario, Transfer Pricing (TP), the backbone of cross-border inter-company transaction regulation, faces a critical need to evolve. AI in the Service of TP Compliance AI is not just a challenge; it’s also a powerful tool for TP compliance, as given below: Natural Language Generation (NLG) can draft tailored local files, intercompany agreements and risk summaries with improved accuracy. AI-driven analytics can simulate transfer pricing outcomes, evaluate scenario-based risk exposure and benchmark intangibles through pattern recognition. Machine Learning models can detect outlier pricing in intercompany transactions, helping preempt scrutiny. Firms using AI for proactive compliance will likely benefit from reduced a...

  This blog takes a brief look at the method of conducting a comparability analysis along with the challenges in the context of Indian Transfer Pricing regulations. Meaning of Comparability Analysis As per the Organisation for Economic Co-operation and Development (OECD), Comparability analysis involves identifying and comparing an uncontrolled transaction or company to the controlled transaction under review. The primary objective of this analysis is to assess whether the conditions and economic circumstances surrounding the controlled transaction (transaction with related parties) align with those that would have existed between independent enterprises operating under comparable conditions. This analysis is essential to ensure that the terms of the transaction reflect an arm’s length standard, as would be expected in dealings between unrelated parties. Need for Comparability Analysis Comparability analysis is an important component of benchmarking, as it helps to set a base for s...

  Digital Contracts Under Indian Law Digital contracts hold the same legal status as traditional paper-based agreements in India, provided they meet the essential elements of a valid contract. These essentials include a lawful offer and acceptance, lawful consideration, the capacity of parties to contract, free and genuine consent, a lawful object and the agreement not being expressly declared void. Indian law does not mandate that a contract must be in written or physical form unless required by specific statutes. This means that agreements formed through electronic means such as emails, digital platforms or mobile applications are legally valid and enforceable, as long as they satisfy the foundational requirements of a contract. This legal recognition facilitates seamless and efficient contracting in the digital age, without compromising on legal certainty. While the Information Technology Act recognizes contracts formed through electronic means, the absence of a digital sig...

In exercise of the powers conferred by section 111 of the Central Goods and Services Tax Act, 2017, the Goods and Services Tax Appellate Tribunal hereby makes the following rules for regulating the procedure and functioning of the Goods and Services Tax Appellate Tribunal, namely: Powers and Functions The Appellate Tribunal possesses various powers and functions to ensure smooth judicial and administrative operations. It regulates time computation by excluding the starting day and holidays and mandates that orders be issued in the name of the President or Member, signed by authorised officers and sealed if issued physically. The Registrar is the custodian of records and is responsible for administration, filings, documentation and registry management. The Tribunal holds sittings at notified locations with standard hours, but may extend them as needed. It has inherent powers to ensure justice and can list urgent matters quickly, exempt rule compliance and extend deadlines. The President...

  Advisory on Reporting Values in Table 3.2 of GSTR-3B - Apr 11th, 2025 Table 3.2 of Form GSTR-3B captures the inter-state supplies made to unregistered persons, composition taxpayers and UIN holders out of the supplies declared in Table 3.1 & 3.1.1 of GSTR-3B. The values in Table 3.2 of GSTR-3B auto-populates from corresponding inter-state supplies declared in GSTR-1, GSTR-1A and IFF in the requisite tables. It is to inform you that from the  April-2025 tax period, inter-state supplies auto-populated in Table 3.2 of GSTR-3B will be made  non-editable . The GSTR-3B shall be filed with the auto-populated values generated only by the system. Therefore, in case any modification/amendment is required in auto-populated values of Table 3.2 of GSTR-3B, the same can be done only by amending the corresponding values in the respective tables of GSTR-1A or through Form GSTR-1/IFF filed for subsequent tax periods. To ensure that GSTR-3B is filed accurately with the correct v...

Subject: Clarification on E-Way Bill Requirement for Goods under Chapter 71 Rule 138(14) of the Central Goods and Services Tax (CGST) Rules, 2017, read with its Annexure Sr. Nos. 4 & 5, states that goods covered under Chapter 71 viz., Natural or cultured pearls and precious or semi-precious stones; precious metals and metals clad with precious metal, Jewellery, goldsmiths’, and silversmiths’ articles, except those classified under HSN 7117 (Imitation Jewellery), are exempt from the mandatory requirement of generating an E-Way Bill. Pursuant to the introduction of the E-Way Bill (EWB) for goods classified under Chapter 71, excluding HSN 7117 (Imitation Jewellery), in the state of Kerala for intra-state movement, the National Informatics Centre (NIC) has provided an option to generate EWBs for goods covered under Chapter 71 except 7117 under the category “EWB for Gold” on the EWB portal. User Guide for ENR-03 Enrollment Accessing ENR-03: a) As per the notification, an Unregiste...

  India has rapidly emerged as a major global investment destination, driven by a large consumer base, skilled workforce and a growing digital economy. Foreign direct investment (FDI) inflows have consistently increased over the past decade, reflecting confidence in India’s economic potential. Reforms and Responses Digitization and Transparency Introduction of Faceless Assessments and Appeals. Use of AI and analytics in compliance checks. Tax Treaty Revisions India renegotiated several tax treaties (e.g., with Mauritius, Singapore) to prevent treaty abuse. Advance Pricing Agreements (APA) and Mutual Agreement Procedure (MAP) Increasing use of APAs to reduce transfer pricing disputes. Streamlined MAP framework with treaty partners. Lessons Learned Legal Certainty is Crucial: Retrospective laws can severely damage investor trust. Importance of Dispute Resolution Mechanisms: Efficient, transparent and quick resolutions encourage compliance and inv...

  Who is Required to Report Foreign Assets? Only individuals who are classified as  “Resident and Ordinarily Resident (ROR)”  under Indian tax law are required to disclose foreign assets. This includes: Foreign bank accounts Foreign investments (stocks, bonds, mutual funds, real estate etc.) Foreign trusts or beneficial interests Any other financial interest or ownership overseas Legal Consequences of Non-Disclosure Under Indian Tax Law (BMA & Income Tax Act): Penalty under the Black Money Act, 2015 Applicability: If you are an ROR and fail to disclose foreign income/assets. Penalty: ₹10 lakh per undisclosed foreign asset, irrespective of its value. As per finance act 2024 (2), Provided that section 43 of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 shall not apply in respect of an asset or assets (other than immovable property), where the aggregate value of such asset or assets does not exceed twenty la...

  PE Risk in India: How Foreign Companies Can Safeguard Against Unintended Tax Liabilities Permanent Establishment (PE) is a critical concept in International Taxation, as it determines whether a foreign entity’s business activities in India trigger tax liabilities. Given the growing global business footprint and India’s complex tax landscape, foreign companies must remain vigilant to avoid unintended tax exposure. In this article, we explore how foreign companies can safeguard against PE risk in India and mitigate potential tax liabilities.  Case Study: Foreign Consulting Firm’s PE Risk in India Consider a foreign consulting firm that sends employees to India for a short-term project, but those employees interact with clients, perform services, and supervise work in India. If this activity continues for a substantial period or involves establishing an office space in India, the consulting firm could inadvertently create a PE and be taxed on the income genera...