About the book
This book contains detailed analysis of some of the key provisions of the Finance Acts passed during the year 2019 i.e. Finance Act, 2019 and Finance (No.2) Act, 2019. The book aims at identifying various direct and indirect tax issues arising from the newly inserted provisions in the Income Tax Act, 1961 as well as the Goods and Services Tax Act, 2017. The book also contains a detailed chapter on Secondary Adjustment.
The key direct tax issues analysed in this book are related to sections 9(1)(viii), section 79, section 92CE, section 115UB, section 194N, section 194DA and provisions related to International Financial Services Center (IFSC) of the Income Tax Act, 1961. Additionally, the book also contains other articles written by the author on issues such as GAAR and Financial Instruments, proposed Rule 10 on attribution of profits and MLI.
The key indirect tax issues analysed in this book are related to section 2(102), sections 7, section 22, section 171 and section 172 of the Central Goods and Services Tax Act, 2017.
Key features
Analysis of direct tax law
Section 9(1)(viii), section 79, section 115UB, section 194N
Taxation of life insurance policy and section 194DA
Secondary adjustment
IFSC related provisions
GAAR and Financial Instruments
Attribution of profits (proposed Rule 10)
MLI operations
Analysis of GST law
Amendment to definition of “supply”
Amendment to definition of “service”
Anti-profiteering and concept of “amount profiteered”
National Appellate Authority for Advance Ruling