India issues guidance on principal purpose test in tax treaties

11 February, 2025

India's Central Board of Direct Taxes has issued Circular No. 01/2025 on 21 January 2025, clarifying the application of the Principal Purpose Test (PPT) provisions in tax treaties. The Circular confirms that PPT provisions, including those

See More

India 2025 Budget: Everything we know so far

05 February, 2025

India’s Finance Minister Nirmala Sitharaman presented the Union Budget 2025-2026 on 1 February 2025 to the parliament, which included the Finance Bill 2025 (The Bill) outlining amendments to various direct and indirect taxes as well as various

See More

India: Finance Minister unveils new tax proposals in 2025 budget

03 February, 2025

India's Union Budget 2025-2026, presented by Finance Minister Nirmala Sitharaman on 1 February 2025, introduced several key tax proposals. Key highlights include: Non-resident taxation   A presumptive taxation regime for non-residents

See More

India, Sri Lanka sign amending protocol to tax treaty

21 January, 2025

India and Sri Lanka signed an amending protocol to their 2013 income tax treaty on 16 December 2024. This marks the first revision to the agreement, which will come into force after the exchange of ratification instruments.  The treaty was

See More

India: CBDT releases 6th annual report on APA programme

16 January, 2025

India’s Central Board of Direct Taxes (CBDT) has published its 6th Annual Report on the country’s Advance Pricing Agreement (APA) programme for the fiscal year 2023-24. A record 125 APAs were signed, marking the highest number in a single

See More

India grants tax collection at source exemption for IFSC on goods

16 January, 2025

India's Central Board of Direct Taxes (CBDT) issued Notification No. 6/2025, providing rules for an exemption from tax collection at source (TCS) on goods purchased by units of an International Financial Services Centre (IFSC), effective from 1

See More

India: GST Council rejects airlines’ proposal to include aviation fuel under GST framework

23 December, 2024

India's GST Council has rejected the airline industry's proposal to bring Aviation Turbine Fuel (ATF) under the Goods and Services Tax (GST) framework. The announcement was made by Finance Minister Nirmala Sitharaman following a meeting on 21

See More

India: CBDT issues additional guidance on Direct Tax Vivad se Vishwas Scheme

20 December, 2024

The Central Board of Direct Taxes (CBDT) of India has released Circular No. 19 of 2024, offering additional guidance on the Direct Tax Vivad se Vishwas (DTVSV) Scheme 2024, which came into effect on 1 October 2024. This provides further guidance

See More

Switzerland suspends MFN clause in tax treaty with India

18 December, 2024

The Swiss Federal Tax Administration declared the suspension of the Most Favoured Nation (MFN) clause under the 1994 Swiss-India tax treaty on 11 December 2024. That will be effective from 1 January 2025. Switzerland is rescinding its unilateral

See More

India expands scope of mandatory e-invoicing

17 December, 2024

The Indian tax administration announced that businesses with an annual turnover exceeding INR 10 crores will be required to report e-invoices to the Invoice Registration Portal (IRP) within 30 days of issuance. This new requirement will start

See More

India scraps windfall tax on fuel and crude oil domestic production, exports

05 December, 2024

India's Central Board of Indirect Tax and Customs (CBITC) has issued Notification 29/2024 on 2 December 2024, which repeals the previous directives related to implementing the Special Additional Excise Duty (windfall tax) on the domestic production

See More

India extends transfer pricing safe harbor rules to FY 2024-25, updates filing deadline for international transactions

04 December, 2024

India's Central Board of Direct Taxes (CBDT) has released Notification No. 124/2024 outlining the Income Tax (Tenth Amendment) Rules, 2024 on 29 November 2024. According to the amendment, the transfer pricing safe harbor rules under Rule 10TD of

See More

India, Nigeria hold talks on income tax treaty

25 November, 2024

According to a release, officials from India and Nigeria held discussions on bilateral relations from 17 to 18 November 2024, with a focus on finalising negotiations for an income tax treaty. During this period, Prime Minister Shri Narendra Modi

See More

India: CBDT launches campaign to ensure accurate disclosure of foreign assets for AY 2024-25

20 November, 2024

The Indian Central Board of Direct Taxes (CBDT) launched a Compliance and Awareness Campaign on Saturday, 16 November 2024, to ensure resident taxpayers fully disclose foreign income in their income tax returns (ITRs) for the Assessment Year (AY)

See More

India: Tax authority is required to provide justification when rejecting a taxpayer’s chosen transfer pricing method

28 October, 2024

The Delhi High Court delivered a judgement regarding the tax authority's rejection of SABIC India Pvt. Ltd.'s chosen transfer pricing method, ruling that the tax authority is required to provide justification when rejecting a taxpayer's chosen

See More

India publishes guidance for Direct Tax Vivad se Vishwas Scheme

16 October, 2024

India's Central Board of Direct Taxes (CBDT) published a guidance, Circular No. 12 of 2024, on Direct Tax Vivad se Vishwas (DTVSV) Scheme 2024 on 15 October 2024, which was introduced in the 2024 Budget to resolve tax disputes and reduce litigation

See More

India introduces key amendments to CGST rules

14 October, 2024

The Indian Ministry of Finance has issued Notification No. 20/2024 on 8 October 2024, implementing significant amendments to the Central Goods and Services Tax (CGST) Rules, 2017. Key changes in CGST Rules Removal of IGST refund restrictions:

See More

India consults Income Tax Act, 1961

14 October, 2024

India's Central Board of Direct Taxes (CBDT) has initiated a public consultation to conduct a comprehensive review of the Income Tax Act, 1961. The announcement was made on 7 October 2024. In the Budget 2024-2025 speech, the Finance Minister

See More