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Lakshmikumaran & Sridharan is a full-service law firm based in India. The firm has offices in 12 cities and has over 400 professionals specializing in areas such as corporate & commercial laws, dispute resolution, taxation and intellectual property.

Over the last three decades, we have worked with a variety of clients – start-ups, small & medium enterprises, large Indian corporates and multinational companies.

Our professionals have experience of working in both traditional sectors such as commodities, automobile, pharmaceuticals, petrochemicals and modern sectors such as e-commerce, big data, renewables.

INSIGHTS

NEWS

09 November 2020

Integrated tax and compensation cess leviable on imports/re-imports not covered under phrase ‘duty of customs’

Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the phrase ‘duty of customs’ in Sl. No. 2 of Notification No. 45/2017-Cus. effective from 1 July 2017 and dealing with exemption to certain goods re-imported after repairs abroad, does not cover integrated goods and services tax (‘IGST’ or ‘integrated tax’) and compensation cess.

NEWS

05 November 2020

Stay of arbitral awards and accreditation of arbitrators – Ordinance promulgated to amend Arbitration and Conciliation Act

The President of India has on 4 November 2020 promulgated Arbitration and Conciliation (Amendment) Ordinance, 2020 to amend the Arbitration and Conciliation Act, 1996 (‘Act’). The Ordinance while amends Sections 36 (Enforcement) and 43J (Norms for accreditation) of the 1996 Act, it also omits the Eighth Schedule to the said Act. The amendments are discussed below.

NEWS

05 November 2020

Interest on delayed payment of GST– Proviso to S.50 of CGST Act is applicable retrospectively

The Madras High Court has held that the Proviso to Section 50 of the Central Goods and Services Tax Act, 2017 (‘CGST’) Act is retrospective in operation notwithstanding the notification bringing it into effect from 1 September 2020. Interest for delayed payment is thus leviable, with effect from 1 July 2017, only on that portion of the output GST liability which is discharged belatedly by way of cash.

L&S Careers

Multidisciplinary teams with background in law, business, process, project management, technology, and more; built on a bedrock of Indian values and diverse perspectives

L&S Internships

Law students will find that internship at L&S could be one of the most enriching experiences. The Senior members of our team are committed to mentoring and guiding you towards achieving your goal of getting ready for a flying start to your career.