Retrospective Tax

Balanced approach to retrospective taxation needed for online gaming: Pinki Anand

She was speaking at the Skoch Summit on ‘New Dimension in Inclusive Growth,’ held on November 30.

GST on card payments below Rs 2,000 to push small merchants more towards UPI

Payment Aggregators do not see any big impact, though the possible retrospective application is a cause of concern as their margins tend to be 0.04-0.05 percent and this could hurt their profitability

GST Council to discuss key amendment, retro tax relief likely for online gaming companies

The council’s move may significantly reduce litigation and boost ease-of-doing business

SC allows state govts to tax mining activities retrospectively; who pays, how much?

Coal India may be in a better position to pass on any additional cess to end-customers owing to its near-monopoly market position, according to ICICI Securities

“Adverse judicial outcome” for telcos raises worries about retrospective tax: Kotak Institutional Equities

The bigger worry, according to the report, would be if income-tax authorities raise demand for the shortfall in tax payment for the prior period, along with penalties

GST Council Meet: Govt says not taxing online gaming firms retrospectively as states flag concerns

Previously, online gaming companies paid 18 percent tax on the platform fees because the law was ambiguous, while betting and gambling always fell under the 28 percent slab.

Death knell, fight for survival: Retrospective tax haunts India’s real-money gaming sector

The forthcoming 28 percent GST tax regime, combined with potential retrospective taxation dues, will make the overall operations unfeasible, likely leading many companies to wind down their businesses, executives say.

Retrospective Tax | Cairn drops lawsuits against Government of India

As part of the settlement reached with the Government of India to the seven-year-old dispute over levy of back taxes, Cairn has initiated proceedings to withdraw lawsuits it had filed in several jurisdictions to enforce an international arbitration award which had overturned levy of Rs 10,247 crore retrospective taxes and ordered India to refund the money already collected.

Britain's Cairn Energy one step closer to ending tax dispute to India

The news comes after the oil and gas producer said in September it was considering undertakings with the Indian government after changes were made to a retrospective tax law at the heart of the row.

FM Nirmala Sitharaman expects retail inflation to be within MPC's comfort range going ahead

The finance minister also said that the next meeting of Goods and Service Tax (GST) Council will deal with the details of extension of compensation to states beyond 2022.

Captain Gopinath: Retro tax was the art of luring, laying a booby trap on investors

India’s retrospective tax of 2012 was born out of hubris, a twisted sense of sovereignty, egged on by inflated egos of bureaucrats in the ministry of finance, and showed India in poor light as an unreliable investment partner — and damaged the economy

Repeal of retro tax to boost trust between industry, govt: PM Modi

Speaking at the annual summit of industry body Confederation of Indian Industries, PM Modi said that the reforms undertaken by the centre over the years show that the the government has carried out reforms not out of compulsion but because of conviction.

Vodafone is ‘open’ to settling matter of retrospective tax with India: Report

British telecom giant Vodafone is likely to apply to the government after framework for settlement is announced

Rajya Sabha approves Tax Amendment bill, scraps Retrospective Tax clause

This move comes after Finance Minister Nirmala Sitharaman on August 5 tabled the Taxation Laws Amendment Bill in Lok Sabha.

Exclusive | How the govt set about burying retrospective tax in complete secrecy

Moneycontrol spoke to multiple sources and pieced together an account of how officials in the Prime Minister’s Office and the Finance Ministry acted swiftly to draft the amendment bill, push it through cabinet and then table it in Lok Sabha once the political leadership had given its go-ahead.

INTERVIEW | Cairn must stop arbitration process, it will be a clean slate from both sides: Revenue Secretary

Speaking to Moneycontrol in an exclusive interview, Tarun Bajaj said that the Centre had waited for Vodafone and Cairn legal cases to reach their conclusion before making the move to repeal retrospective tax, and that getting rid of it does not take away the Sovereign’s right to tax.

Bill to withdraw retro taxes delayed but welcome move, says Former Finance Secretary Arvind Mayaram

The Bill seeks to withdraw the tax liability on gains arising from indirect transfer of Indian assets prior to May 28, 2012.

Explained | Why did govt take U-turn on retro tax law and what does this mean for Vodafone, Cairn arbitration cases?

The move will bring respite to companies like Cairn Energy and Vodafone, and is expected to to end their long-standing legal dispute with the Indian government.

Govt move to undo retrospective tax law means India to forego tax demands of Rs 50,000 crore

The government has moved to nullify all retrospective tax demands, which have seen India fighting legal battles with global corporations for more than a decade now.

Govt Buries Ghost Of Retro Tax: What Are Top Tax Experts Saying?

The unpopular tax policy, which was first introduced in Budget 2012, had dampened the investment climate and triggered a rash of domestic and international litigation and arbitration involving MNCs like Vodafone and Cairn, in some cases involving legal setbacks for the government

Govt buries ghosts of retrospective tax, tables taxation law amendments in Lok Sabha

"The Bill proposes to amend the Income-tax Act, 1961 so as to provide that no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012," Finance Minister Nirmala Sitharaman said in a written statement along with the bill.