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Indirect Tax Insights: Expert Analysis and Updates

Indirect Tax
free

Cadbury’s ₹320 Crore Tax Dispute: When Marketing Meets Transfer Pricing

When we think of Cadbury, the first thing that comes to mind is the purple wrapper and the tagline “Kuch Meetha Ho Jaaye.” But for the Income Tax Department, Cadbury (Mondelez India Foods Pvt Ltd) became the subject of a ₹320 Crore tax adjustment, sparking a major legal battle before the Income Tax Appellate Tribunal […] Print

Team CounselviseTeam Counselvise-September 02, 2025
Indirect Tax
free

ITAT Ahmedabad Rules on Section 87A Rebate Against STCG under Section 111A (A.Y. 2024–25)

Introduction One of the most debated income-tax issues in the current year has been the scope of rebate under Section 87A, particularly in situations where the assessee’s income comprises short-term capital gains (STCG) on listed equity shares taxable under Section 111A while opting for the default new regime under Section 115BAC(1A). The matter attained significance […] Print

Team CounselviseTeam Counselvise-August 23, 2025
Indirect Tax
free

New Thresholds for Perquisites & Medical Benefits – G.S.R. 555(E)

The Ministry of Finance recently introduced the Income-tax (Twenty Second Amendment) Rules, 2025 through Notification G.S.R. 555(E), redefining key thresholds related to perquisites and employer-provided medical benefits. For professionals and salaried employees, this update has significant implications on taxable income and exemptions. Let’s break it down. Under Section 17 of the Income-tax Act, 1961, the […] Print

Team CounselviseTeam Counselvise-August 21, 2025
Indirect Tax
free

Cabinet Approves Blanket Ban on Online Money Games

In a landmark move, the Union Cabinet has approved legislation imposing a blanket ban on online money games. This decision has sent shockwaves across a ₹27,438 crore industry, impacting startups, unicorns, and listed companies, including Dream11, MPL, WinZO, and Nazara Technologies. The Rationale Behind the Ban The government’s decision stems from growing concerns over addiction, […] Print

Team CounselviseTeam Counselvise-August 20, 2025
Indirect Tax
free

Prem Prakash Gupta v. ITO – ITAT Jaipur Ruling on Turnover Definition for Stamp Vendors 

Introduction The concept of turnover under the Income-tax Act often appears straightforward, until it is applied to agency-based businesses. For licensed stamp vendors, where sales are made on behalf of the government, the question becomes critical: Should turnover include the gross value of stamps sold or only the commission earned?  The decision in Prem Prakash […] Print

Team CounselviseTeam Counselvise-August 19, 2025
Indirect Tax
free

AI Hallucination in Court: ITAT Recalls Order Over Fake ChatGPT-Generated Case Laws in Buckeye Trust Tax Dispute

A recent tax tribunal order, hastily withdrawn after citing non-existent court judgments, has sparked concerns over the possible use of generative AI—a groundbreaking technology reshaping the world but notorious for sometimes fabricating information. In December, the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) issued an order referencing three Supreme Court judgments and one […] Print

Team CounselviseTeam Counselvise-March 20, 2025
Indirect Tax
free

GSTN Mandates HSN Code Reporting: Effective February 2025

Starting from the January 2025 tax period, the Goods and Services Tax Network (GSTN) has introduced significant changes to Table 12 of the GSTR-1 and GSTR-1A forms, focusing on the mandatory reporting of Harmonized System of Nomenclature (HSN) codes. Understanding HSN Codes: Internationally recognized numerical codes classify goods and services as HSN codes, facilitating systematic […] Print

Team CounselviseTeam Counselvise-January 25, 2025
Indirect Tax
free

The Reverse Charge Mechanism (RCM) Under GST

The GST has simplified India's indirect taxes. It introduced the Reverse Charge Mechanism (RCM) to boost tax compliance and widen the tax base. RCM shifts the responsibility of tax payment from the supplier to the recipient under specific circumstances. What is Reverse Charge Mechanism (RCM)? Under the Reverse Charge Mechanism (RCM), the recipient must pay […] Print

Team CounselviseTeam Counselvise-January 13, 2025
Indirect Tax
free

Input Tax Credit in GST: Eligibility and Conditions

The Goods and Services Tax (GST) has revolutionized the way businesses operate in India. One of its most significant benefits is the Input Tax Credit (ITC) mechanism, which can drastically reduce your tax liability if utilized properly. But what exactly is ITC, who is eligible for it, and how can you claim it? Let’s break […] Print

Team CounselviseTeam Counselvise-January 09, 2025
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