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India: Tax authority’s action plan; claims for input tax credit

India: Tax authority’s action plan; input tax credit

The KPMG member firm in India has prepared reports about the following tax developments (read more at the hyperlinks provided below).


Related content

  • Central action plan: The Central Board of Direct Taxes released a “central action plan” for 2019-20, the focus of which includes litigation management, improving quality in diverse areas of work, and strengthening compliance and enforcement functions. Read a July 2019 report [PDF 776 KB]
  • Short-term capital gain, non-resident’s sale of units of equity-oriented mutual funds not taxable under treaty with UAE: The Cochin bench of the Income Tax Appellate Tribunal held that with respect to a taxpayer who is a resident of UAE (for purposes of the India-UAE income tax treaty), short-term capital gain realized from sale of units of equity-oriented mutual funds is not subject to tax in India. Under the treaty provisions, such short-term capital gain would be taxable in the country of residence on the basis that shares and equity-oriented mutual funds are two separate types of securities. Read a July 2019 report [PDF 725 KB]
  • Residential status of Indian citizen who migrated to foreign country: The Bombay High Court held that when calculating the residential status of an Indian citizen who migrated to a foreign country, a period (or periods) of 182 days in India during a particular fiscal year is used. The case is: Binod Kumar Singh. Read a July 2019 report [PDF 848 KB]
  • Tax refund pursuant to section 143(1): The Bombay High Court decided a case concerning the processing of a tax return claiming a refund under section 143(1) of the Income-tax Act, 1961. Because the tax authority did not cite justifiable reasons for not issuing the refund, the high court directed the authority to process the return and to issue the refund. The case is: Tata Communications Ltd. Read a July 2019 report [PDF 622 KB]
  • Due date to claim input tax credit: The High Court of Gujarat held that the due date for filing form the input tax credit form (GSTR-3B) was contrary to provisions of the goods and services tax (GST) law. Form GSTR-3B was not introduced as a return but was merely a stop-gap arrangement until the due date for the filing of GSTR-3 was established. Read a July 2019 report [PDF 543 KB]

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