close
Share with your friends

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).

1000

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]

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal