Lakshmikumaran & Sridharan is a full-service law firm based in India. The firm has offices in 14 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.



26 May 2021

Customs Valuation – Notional transportation cost not includible in value of fuel remaining in aircraft after incoming international flight

The Larger Bench of the Customs, Excise and Service Tax Appellate Tribunal (‘CESTAT’) has in its decision delivered on 25 May 2021 held that notional cost towards freight charges is not required to be added to the value of Aviation Turbine Fuel (‘ATF’) remaining in the aircraft after its international flight into India. The Revenue department had added 20% to the FOB value of ATF as cost of transportation under Rule 10(2) of the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (‘Valuation Rules’).


24 May 2021

Construction cess not payable on contracts not having any construction component

The Supreme Court, in its recent judgment, has finally settled a long pending issue by holding that contracts which cover works other than civil works and do not involve any construction, do not attract cess under the Building and Other Construction Workers’ Welfare Cess Act, 1996. The Apex Court in the decision in the case of UP Power Transmission Corporation Limited v. CG Power and Industrial Solutions Limited [Judgement dated 12 May 2021] clarified that mere installation and/or erection of pipelines, equipment for generation, transmission, or distribution of power, electric wires, transmission towers, etc., which do not involve construction work, are not amenable to levy of such cess.


18 May 2021

Mere forwarding of WhatsApp messages as received when not amounts to sharing ‘unpublished price sensitive information’

The Securities Appellate Tribunal has held that mere ‘forwarded as received’ WhatsApp message circulated on a group regarding quarterly financial results of a Company, closely matching with the vital statistics, some time before the publication of the same, not amounts to an unpublished price sensitive information (‘UPSI’) under SEBI (Prohibition of Insider Trading) Regulations, 2015.

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