Retro Tax

The government will settle almost all the retrospective tax cases this month, closing a chapter that plagued India's reputation as an investment-friendly destination, a top official said

'Company has concluded all necessary steps under the rules of the India Taxation (Amendment) Act 2021 required for payment by Govt of India of a tax refund of approximately Rs 7,900 cr,' says Cairn

A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax admin

The government has now issued Cairn a so-called Form-II, committing to refund the tax collected to enforce the retrospective tax demand, two sources with direct knowledge of the development said

Why do top global carmakers fail in India? Will Cairn settlement herald the end of India's retro tax migraine? What will T+1 settlement cycle change for Indian markets? Get answers in this episode

Rajya Sabha returns Bill to Lok Sabha amid Opposition protests

The Indian state's arbitrariness may have come to be accepted with resignation within the country, but when it behaves in the same manner with external players, it gets a push-back, writes T N Ninan

Business Standard brings you the top headlines of the day

British oil explorer Cairn Energyon Tuesday said it was seeking from the Indian govt Rs 10,300 cr in losses arising from the expropriation of its investments to enforce a retrospective tax demand.

India told to bear 60% of Voda's legal costs amounting to over £4 million; FinMin tells govt to consult counsel and consider all options

The international tribunal was supposed to give an award by February 2019, but in March it delayed it to 2019-end and now to summer of 2020

Under the Dispute Resolution Scheme, the govt has offered a one-time tax settlement, subject to firms agreeing to withdraw pending cases

Govt's latest move to sort out the issue is a welcome sign