Recent Corporate tax assessment trends/GST Litigation

The webinar focused on recent Corporate Tax Assessment Trends and GST Litigation Challenges and Resolutions. It covered recent amendments, trends in assessments, and key points to watch in assessment notices and orders.

Specifically, the webinar addressed the Indian government's intention to reduce litigation and build trust through various steps taken since 2014, including clarity through a simplified tax regime, updated tax returns, Advance Pricing Agreements (APAs), and Safe Harbour Regulations. Building trust was another focus, with e-assessments followed by faceless assessments, Dispute Resolution Panel (DRP) findings binding on tax authorities, computerized case selection for scrutiny, and decriminalization of penal provisions. The webinar also discussed reducing litigation by increasing monetary limits for appeals and introducing block transfer pricing assessments and Vivad se Vishwas Schemes.

The webinar also highlighted trends in assessments, including the usage of technology to harness data from various sources like Software Expense Forms (SFT), 15CA/CB certificates, TDS returns, 26AS statements, and information exchange between government departments. It further discussed key assessment areas like the distinction between capital vs. revenue expenditure, taxability of payments to non-residents, deductibility of inter-group charges, and other transfer pricing matters.

The webinar also provided guidance on what to watch for in an assessment order, referencing relevant judicial precedents. Similarly, it detailed what to look for in an assessment notice, including issues of jurisdiction, procedural irregularities, defects in the notice, and time-barred notices.

In the realm of GST, the webinar covered the legal framework for GST litigations, including appeals to the GST Appellate Tribunal (GSTAT), the process as per CGST law, and the process when GSTAT has not been set up. It also included a GST litigation case study. Finally, the webinar concluded with a discussion on readiness for GST litigations and best practices for minimizing tax risks, emphasizing the importance of choosing a litigation partner, preparing appeal drafts, and ensuring proper data storage and handover procedures.