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Understanding India’s WTO challenge to United States’ additional import tariffs on steel and aluminium articles

By Ankur Sharma

When countries join the WTO, they sign-up to bring transparency, predictability and stability to import tariffs on various goods among many other commitments.  It is felt necessary to agree to tariff bindings.  This means that if a country A agrees to bind its import tariff on a good X at 10%, A will never impose import ...

Advance Rulings under GST – Certain questions of law

By Dr. G. Gokul Kishore

GST made its entry in July, 2017. To facilitate trade on issues relating to liability or credit or classification or valuation, mechanism of advance rulings has been provided in CGST Act and SGST Act. While the statute provided a remedy on questions relating to proposed activities, the ambitious procedural machinery of fil...

Vacancy allowance to real estate developers - Relief from tax for what may not be taxed?

By Karanjot Singh Khurana


Finance Act, 2017 amended [see End Note 1] the Income-tax Act, 1961 (‘IT Act’) to provide that the annual value of building or land appurtenant thereto which is held by the assessee as stock-in trade will be deemed to be Nil for a period of one year from the...

US steel and aluminium tariffs and the WTO’s security exception: Unsecuring multilateral trade?

By Jayant Raghu Ram

The United States has instituted measures imposing high duties on all imports of steel and aluminium into the United States. While the US has sought to justify these measures on the basis of its national security requirements, the real underlying motive would seem to be to afford protection to its domestic steel and aluminium in...

Taxation of independent personal Service- Can legal form of entity alter right to tax income?

By Karanjot Singh Khurana

Under OECD Model Tax Convention (‘MTC’), income from professional services was taxed in terms of Article 14 titled ‘Independent Personal Services’ (‘IPS’). However, Article 14 was deleted from the OECD MTC with...

Relevance of amortization for valuation under GST law

By Brijesh Kothary and Nikhil Agarwal

As G. F. Stanlake states in his book ‘Introductory Economics’, a person who spends his or her time performing one relatively simple task becomes extremely proficient at that particular operation. It is true that constant repetition leads to great dexterity and efficiency.
The mo...

DGAD introduces new requirements for user industry

By Ankur Sharma

Among many significant changes being introduced by the Directorate General of Anti-dumping & Allied Duties (DGAD) of late, there are some new requirements applicable to user industry in India going forward in investigations initiated from 1st of March 2018.

By Trade Notice No. 04/2...

Deduction of tax at source on reimbursements - An unsettled debate!

By Karanjot Singh Khurana


The question as to whether tax has to be deducted at source on expenditure reimbursed to both residents and non-residents has been a subject matter of judicial scrutiny on various occasions. Even though, it is judicially accepted that the reimbursement of expenditure do...

Intra-State supplies v. Inter-State supplies under GST law

By Nipun Arora

While levying tax on various supplies of goods or services, it becomes pertinent to decide whether supplies shall be treated as intra-State supplies or inter-State supplies. Also, this is necessary to determine because it will be a decisive factor for charging correct taxes, i.e. CGST and SGST/UTGST or IGST.

The relevant provi...

Applicable time limit in Anti-dumping review proceedings

By Bhargav Mansatta

Three types of reviews are contemplated under the WTO Anti-dumping Agreement & Indian Anti-dumping Rules, 1995 namely (i) Mid-term review under Rule 23(1A) (ii) Sunset review under Rule 23(1B) and (iii) New Shipper review under Rule 22.

Relevant legal provisions under Anti-dumping Rules, 1995

Taxing compensation receipts – Whittling away the relief?

By Subhashree R
While taxing of long term capital gains and insertion of the Income Computation and Disclosure Standards (ICDS) have been some of the major talking points post presentation of Budget this year, the apparently innocuous insertion in Section 28 has not received much attention.  ‘A rose by what other name called would sme...

Legal metrology - New labelling rules could agitate businesses

By Ekansh Agrawal

The Legal Metrology (Packaged Commodities) Rules, 2011 which govern the pre-packed commodities, were amended by Notification Number G.S.R. 629 (E) dated 23rd June 2017 and the said amendments have become effective from 1-1-2018. In the Lok Sabha, such amendments were stated as an aim towards balanc...

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