Cross-border insolvency: UNCITRAL Model adoption to enable recognition, access and cooperation between foreign and domestic proceedings.
A proposed cross-border insolvency regime based on the UNCITRAL Model Law would apply initially to corporate debtors and permit assistance where foreign representatives or courts seek cooperation, where assistance is sought abroad in relation to Code proceedings, where concurrent foreign and domestic proceedings involve the same debtor, or where foreign creditors seek to commence or participate in domestic proceedings. The framework emphasises recognition of foreign proceedings, direct access for foreign representatives and creditors, cooperation and coordination between courts and practitioners, and preservation of domestic priority and public policy safeguards. (AI Summary)

Input tax credit restriction bars post-September claims; taxpayers may only increase declared output tax and pay interest.
Section 16(4) bars claiming input tax credit after the due date for the September summary return or the annual return, and a related administrative clarification treats the summary return as the operative cutoff, preventing post-September rectification of both outward-supply reporting and summary return entries. Revenue-protection provisions nonetheless allow taxpayers to correct by increasing declared output tax and paying additional tax with interest and penalties, so missed credits cannot be recovered by reducing output after the cutoff but can be addressed by declaring higher output liability. (AI Summary)

Privilege under section 43B: deduction may be claimed if specified sums paid and evidence filed by the return due date.
The proviso to Section 43B is an elective privilege permitting deduction in the year of accrual if the assessee actually pays the specified sums on or before the return filing due date and furnishes evidence of payment with the return; alternatively, the assessee may defer claim until actual payment in a later year. Practical issues arise where assessing officers seek additional proof, and preponement of filing deadlines has reduced the period within which the proviso can be exercised. (AI Summary)

Anti profiteering duty: suppliers must pass GST rate reductions to customers or face penalties and price adjustments.
Suppliers must pass on GST rate reductions at the time of supply; subsequent events cannot negate that obligation. A distributor who failed to reduce the sale price, increased base prices to offset tax cuts, or relied on returns, credit notes, or quantity increases without holding stock acquired at the lower rate was found to have contravened the pass through duty. The regulator directed immediate commensurate price reduction, benefit transfer to customers, and imposed a monetary penalty along with liability for any tax not reduced or short paid. (AI Summary)

Input tax credit transfer: transferee acceptance on the portal enables unutilised credit to be moved after business transfer.
Registration obligations arise for the transferee on transfer; inter-company supplies between the effective date and the order date are includible in turnover. Unutilised input tax credit is transferred via Form GST ITC-02 on the Common Portal with transferee acceptance; demerger apportionment follows asset values. Itemised sales are taxable as supplies under Schedule II, while transfer as a going concern (slump sale) is not treated as supply and is exempt under the stated notification. Securities are outside GST. (AI Summary)

Scope of advance rulings: jurisdiction limited to statutory categories, pending proceedings bar admission and procedural queries are nonmaintainable.
Applications for advance rulings under sections 95-106 must meet admission preconditions and fall within the subject categories of section 97(2); pending proceedings or prior litigation on the same question justify rejection at admission. The AAR's jurisdiction excludes requests for procedural directives or interpretation of instruments not issued under the CGST Act, and it will not entertain applications where applicability of relevant notifications is conceded or where the issue falls under external trade policy. (AI Summary)

Limited Liability Partnership offers separate legal personality with limited partner liability and flexible governance under LLP law.
Limited Liability Partnership (LLP) combines a separate legal personality with limited partner liability, perpetual succession, capacity to hold property and sue, and managerial flexibility governed by an LLP Agreement; registration requires identity, address, office proof and digital signatures for partners and collection of partner details, while operational advantages include shielding partners from others' unauthorized acts, potential ease of financing, and limited audit requirements subject to turnover/contribution thresholds. (AI Summary)

Appeal to Securities Appellate Tribunal requires timely filing and strict compliance with prescribed procedural and filing rules.
Appeals against specified Insurance Act orders may be brought to the Securities Appellate Tribunal within forty five days, subject to discretionary extension for sufficient cause. Filings must follow prescribed formalities: a memorandum in the prescribed form, multiple sets with certified copies of the order, verification, service, and payment of prescribed fees and inspection/copying charges. The Registrar scrutinises and may allow rectification of defects or decline registration with a right to challenge. The Tribunal may hear parties, grant interim relief with reasons, exercise civil court powers, and its jurisdiction excludes civil courts. (AI Summary)

Denial of cess credit carryforward increases reversal and interest obligations where such credits were utilized, requiring repayment and procedural steps.
Retrospective amendment to Section 140(1) excludes Cess credit from carry forward into GST, requiring taxpayers who carried forward such balances to reverse them as irregular ITC. Unused carried-forward Cess credit attracts no interest for mere availment, but where such credit was utilized to pay GST, the tax must be repaid with interest from the date of utilization until reversal. Taxpayers should reverse via GSTR 3B entries, notify the department, pay in cash if ledger credit is insufficient, pursue representations for waiver, or seek refund under pre GST law where available. (AI Summary)

Tax Deduction and Collection under GST: mandatory TDS by specified entities and TCS by e commerce operators with reporting obligations.
The framework mandates that specified government and notified entities deduct TDS at the prescribed rate from supplier payments above the statutory threshold, exclude GST/cess from the value base, compulsorily register, remit deducted amounts within the monthly deadline, issue an electronic certificate, and file the periodic TDS return so deductees can claim corresponding input tax credit; interest, late fees, recovery and refund mechanisms under the Act apply. Separately, e-commerce operators must collect TCS on net taxable supplies made through their platforms, remit collections within the statutory deadline, file monthly and annual statements, allow collected tax to be credited to suppliers' cash ledgers, and comply with matching, notice and penalty provisions. (AI Summary)

Input Tax Credit denial prompted matching price adjustments in restaurant franchise pricing, no anti profiteering breach found.
Administrative scrutiny found the franchisee had available Input Tax Credit (~11.80% of taxable value) prior to the GST rate reduction and thereafter increased average base prices by approximately 12.14%; the Authority concluded these increases were commensurate with the denial of ITC and did not establish a breach of the anti profiteering obligation under the CGST framework. (AI Summary)

Annual return format simplification: extend ITC reconciliation and filing deadlines and clarify exempt, nil rated and non GST reporting.
The article urges simplifying Form GSTR-9 by clarifying overlapping categories in Table 5 (exempt, nil rated, non GST), removing first year bifurcation of ITC between inputs, input services and capital goods, extending or adjusting ITC reconciliation and annual return filing timelines given system and filing extensions, adding rows to Table 8 for other mismatch reasons, providing guidance on ITC reversed and later reclaimed, removing HSN inward summaries in Table 18, and enabling period selection where registration type changed mid year. (AI Summary)

Corporate social responsibility obligation diverts specified profits at source, removing that portion from company income and requiring separate accounting.
CSR under the Companies Act, 2013 creates a mandatory statutory diversion of a prescribed portion of average net profits at source so that the earmarked amount is not income of the company but is held for specified CSR spending; inconsistent corporate provisions are void and reporting of unspent amounts is required in the directors' report. (AI Summary)

Input tax credit deadlines require reconciliation and final annual adjustments before September return filing to secure correct credits.
Input tax credit entitlement for FY 2017-18 must be finalised before filing September Form GSTR-3B: reconcile ITC across GSTR-3B, books and GSTR-2A; identify and claim missed or irregular credits; pursue vendor corrections; adjust reverse-charge credits and credits reversed for non-payment; and regularise short reversals with interest. Perform the annual computation and reversal of common credit for taxable and exempt supplies before the September deadline, and reconcile and amend outward-supply reporting and credit-note adjustments so the Annual Return and audit reconciliation reflect correct data. (AI Summary)

Actionable claim classification: lottery tickets qualify as goods for GST, allowing taxation and differential rates where legislatively prescribed.
A lottery ticket confers transferable beneficial interests-an immediate right to participate and a contingent prize claim-that constitute an actionable claim and thereby fit within the inclusive notion of goods. Schedule III excludes actionable claims except lotteries, betting and gambling, so lotteries remain within the GST scope; the constitutional definition of goods permits such classification, and the GST legislative and valuation provisions provide the basis for taxing lotteries. Differential rates for State-run and State-authorised lotteries rest on GST Council recommendations and legislative classification. (AI Summary)

ITC time limit: availment depends on prescribed return identity or annual return timing, with filing extensions affecting eligibility.
The article explains that the statutory ITC limitation links entitlement to the earlier of the due date for the prescribed monthly return and the annual return, but because the prescribed monthly return has been suspended and a provisional return used in practice, uncertainty arises whether the provisional return triggers the time bar; alternative readings treat extended supplier filing dates and matching provisions as extending the recipient's window to claim ITC, generating reconciliation, late fee and interest consequences. (AI Summary)

Compliance certificate under CIRP ensures resolution professional certifies procedural and stakeholder compliance before plan filing.
Resolution professionals must file Form H with a CoC approved resolution plan certifying compliance with the Insolvency and Bankruptcy Code and regulations, including identification details, CIRP timeline, examination of plans, an eligibility affidavit from the resolution applicant, CoC approval by requisite voting share, stakeholder treatment and amounts provided, funding sources and implementation timelines, disclosure of contingencies and deviations, and particulars of avoidance actions, together with a declaration of truthfulness. (AI Summary)

Stamp duty on foreign arbitral awards: non payment alone cannot block enforcement; legislature may lawfully impose a levy.
The statutory term "award" in Item 12 of Schedule I of the Indian Stamp Act, 1899 does not include foreign awards, so foreign arbitral awards are not presently chargeable under that Schedule; consequently, non payment of stamp duty under the current statutory scheme does not automatically obstruct enforcement, though the legislature may lawfully amend the Act to subject foreign awards to stamp duty, and any levy must conform with non discriminatory treatment under the New York Convention. (AI Summary)

Maintainability of advance ruling applications requires statutory scope and territorial competence before admissibility.
Maintainability of an Advance Ruling application requires that the question fall within the statutory scope of Section 97(2) and that the Authority have territorial competence; questions outside that list (for example determination of place of supply, refund procedures, or other dispute settlement matters) are not entertainable. Additionally, applications will be rejected where the same question is pending or decided in proceedings involving the applicant under the GST law, pursuant to Section 98(2). (AI Summary)

Tax holiday for power undertakings permits full deduction for eligible profits subject to eligibility, audit and non-duplication rules.
Full exemption of profits and gains is available for eligible power generation, transmission or distribution undertakings and qualifying renovation activities, subject to temporal and operational eligibility, exceptions for reconstruction and limited second hand machinery use, a ten year concessionary claim period within a prescribed block, restriction that deduction cannot exceed profits nor be claimed under other deduction provisions, and a mandatory chartered accountant audit report with separate accounts for each undertaking; works contract activities are excluded. (AI Summary)