In June this year, India signed the Multilateral Convention (MLC) to implement tax treaty-related measures to prevent base erosion and profit shifting under the BEPS project. MLC seeks to modify a large number of tax treaties. The modification principally works on a reciprocal basis where countries notify (a) the treaties to which they intend to apply the MLC and (b) the provisions of the MLC, which they intend to apply to individual treaties.

Rahul Jain, Partner- International Taxation, Nangia & Co LLP contributed an article on Principal purpose test under BEPS more stringent than GAAR for Business Today magazine.

Having undergone constant administrative/structural changes and rate revisions since its July launch, it was an overhaul that awaited the goods and services tax (GST) on Friday. The GST Council has brought down the tax rates on another 178 items from 28% to 18%, leaving only 50 or just over 4% — compared with 19% initially — of the goods in the highest slab that consumers found pinching, dented consumption and fanned inflation. Rakesh Nangia, Managing Partner shares his views of aforemntioned story for Financial Express.

hanges put in place by the Insolvency and Bankruptcy Board of India (IBBI), to ensure credibility of the debt resolution process, could increase the burden on insolvency resolution professionals (IRPs), experts have said.

1. Rakesh Nangia, Managing Partner shares his views on Changes in IBC may increase burden on IRPs for Livemint.

2. Tanushree Roy, Assosiate Director shares her views on Taxing times: Why the filing of GST-2 was postponded for Hindu Business Line.