The UK’s economic growth for the final quarter of 2024 was slightly positive, showing a modest 0.1% increase in GDP. This marginal growth was better than the anticipated stagnant growth and marked a small step up from the previous quarters of the year. For the entirety of 2024, the UK economy expanded by 0.9% compared to the previous year, indicating […]
GST Implications on Sub-Contracted Goods Transportation: Classification as Vehicle Rental Service Background: The taxpayer entered into an arrangement with a principal Goods Transport Agency (GTA) for the transportation of goods. The taxpayer, however, did not issue consignment notes but merely provided trucks for the transportation of goods. Issue: Whether the transportation service provided by the taxpayer as a sub-contractor to […]
NOTIFICATION G.S.R. 145(E) [NO. 17/2025/F. NO. 370142/28/2024-TPL], DATED 24-2-2025 The CBDT amends due dates for furnishing of statements in Form 64A and 64E by business trust & securitization trust. Also via Income-Tax (Fifth Amendment) Rules, 2025 – amendment made in Form No. 10IH; and Substitution Of Rules 12CA, 12CC and FORM Nos. 64A, 64B, 64C, 64D, 64E AND 64F. NOTIFICATION NO. […]
Transfer pricing is a crucial concept in international taxation and corporate finance. It refers to the pricing of goods, services, or intangibles transferred between related entities within a multinational enterprise (MNE). Since different tax jurisdictions have varying tax rates, transfer pricing plays a significant role in tax planning and compliance. Regulatory authorities closely monitor transfer pricing to prevent tax evasion […]
Diverging Economic Trajectories in the US and Eurozone In the last quarter of 2024, the economic fortunes of the US and eurozone diverged sharply. The US economy continued to demonstrate resilience, achieving a 0.6% growth in Q4 and a commendable annual increase of 2.8%, underpinned by strong consumer spending and sustained government expenditures. In contrast, the eurozone faced economic stagnation, […]
IFSCA issues a consultation Paper on SPV Framework under IFSCA (Fund Management) Regulations, 2022 International Financial Services Centres Authority (“IFSCA”) has issued a consultation paper with respect to Special Purpose Vehicle (“SPV”) under IFSCA (Fund Management) Regulations, 2022 (“FME Regulations”). The consultation paper proposes the operationalisation of SPV under the controlling scheme in order to facilitate the growth of funds […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of January, 2025 issued by SEBI and RBI. SEBI SEBI Investor website and Saarthi App offer free tools and resources for Investor Awareness and Education Securities and Exchange Board of India (SEBI), as part of its mandate to protect the interests of […]
Blackstone Inks MOUs To Invest $11 Bn In Maharashtra Over 3-5 Years Blackstone has signed three memoranda of understanding with the Maharashtra government at the World Economic Forum in Davos, committing an investment of approximately $11 billion (around INR 95,247 crores) over the next three to five years to develop infrastructure assets in the state. The agreements, made with Maharashtra […]
GST Calendar –Compliances for the month of January ’2025 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) February 10, 2025 GSTR-8 (Tax Collected at Source ‘TCS’) February 10, 2025 GSTR-1 February 11, 2025 IFF- Invoice furnishing facility (Availing QRMP) February 13, 2025 GSTR-6 Input Service Distributor February 13, 2025 GSTR-2B (Auto Generated Statement) February 14, 2025 GSTR-3B […]
Clarification Regarding Orders under Section 201 Of The Income-Tax Act, 1961 Under E-Appeal Scheme, 2023 The CBDT vide Order F. NO. 225/17/2025-ITA-II, dated 28-1-2025 clarified that Orders passed u/s 201 in pursuance of action u/s 133A are appealable before CIT(A) under e-Appeal Scheme, 2023. NOTIFICATION G.S.R. 67(E) [NO. 9/2025/F.NO.370142/18/2024-TPL], DATED 21-1-2025 The CBDT vide insertion of new Rule 6GB – prescribes […]