The long wait for a harmonised indirect tax system in India will soon be over with the introduction of Goods and Services Tax (GST) system from July 1, 2017. After the passage of four GST Bills (Central GST, Integrated GST, Union Territory GST and GST Compensation to States), the state ...

As SEBI cracks down on the business of P-Notes and the tax department follows up on the use of cash for generating unaccounted incomes, it comes as a surprise that the grey market for shares thrives unfettered.  It is fairly common for major newspapers to quote the premium offered on ...

GST should result in an abolition of fragmented tax regime, development of a common market, elimination of cascading of taxes and should help increase the growth of GDP by promoting trade, business and investment.

In contemporary federalism, fiscal behaviour of States has not been predominantly determined by the patterns of intergovernmental fiscal transfers. The recent central government policies and reforms in India are also influencing debt-deficit dynamics at the subnational level. With the introduction of UDAY¹, this dimension has reached an added significance ...

[Co-author: Rajeswari Sengupta]

On 4 May, the President promulgated the Banking Regulation (Amendment) Ordinance, 2017. This adds sections 35AA and 35AB to the Banking Regulation Act, 1949 ("BRA").