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Articles

Our attorneys and specialists remain up-to-date with the latest legal developments and offer their perspectives and critical commentary.

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Corporate

Corporate Social Responsibility and implementation agencies

11 August 2020

The article discusses at length the recently released draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020. According to the authors, the Draft Rules are a ray of hope in regulating implementation agencies and ensuring a greater transparency by formulating the registration process.

International Trade & WTO

Implementation of Significant Distortions Methodology by EU in original anti-dumping investigations – Who’s next after China?

29 July 2020

Significant distortions methodology on imports from China as per Article 2(6a) of the EU’s Basic Regulation has been applied in three original anti-dumping investigations. While individual producers/exporters continue to register their participation, there is no opposition/response from China during the investigations to avoid application of significant distortion methodology and as a result, exports from China face the same treatment as that of a non-market economy country.

Goods and Services Tax

Is the time limit for filing TRAN-1 sacrosanct – Madras High Court adds a twist to the never-ending tale

27 July 2020

Question whether the time limit imposed on transitioning the credit into GST from the erstwhile regime is sacrosanct has now been decided by various High Courts and interestingly, not all of them have taken the same view. Recently the Madras High Court has held that the provision imposing time limit is intra vires the Central Goods and Services Tax Act, 2017 and is mandatory in nature.

Goods and Services Tax

Ongoing concerns on ‘Going concern’

27 July 2020

The article attempts to explain when the transfer of a business should be treated as a ‘transfer of a going concern, as a whole or an independent part thereof’ which is an exempt supply under GST laws.

Direct Tax

Proviso to Section 115BAA(3) – Sowing confusion or certainty?

21 July 2020

The article addresses an issue that may arise regarding the treatment of unclaimed portion of additional depreciation in respect of companies with substantial capital expansion in the relevant AY while opting for Section 115BAA of the Income Tax Act relating to reduced corporate taxation scheme.

Intellectual Property

Emerging preferences in trademarks amidst COVID-19 – Analysis of registrability and other related issues

15 July 2020

Since February 2020, the Covid-19 (also known as Coronavirus) pandemic has been a major talking point and consequently many pandemic referenced words are being used as trademarks and are being filed for registration at Trade Mark Registries worldwide. The article analyses the various registrability issues pertaining with ‘Covid’ or ‘Corona’ referenced trademarks filed in India and other related issues that may pose difficulties in seeking the registration.

Arbitration, Commercial litigation

Arbitrability of disputes post execution of ‘unconditional discharge vouchers’ – An analysis

13 July 2020

One of the common defenses taken by a party, facing a claim in an arbitration is that the contract has already been discharged by performance, however, it is not uncommon for the claimant to dispute the discharge voucher signed by it and claim that it was executed under fraud, coercion or undue influence.

Direct Tax

Virtual Hearing: An effective alternative to in-person hearing?

10 July 2020

Covid-19 has been affecting every sphere of our lives for the past many months and it is evident that the same would continue for the next few months, to say the least. Amongst others, judicial system in India has seen immense pressure to adapt to the existing circumstances posed by the pandemic and provide a redressal platform for the existing and future litigation.

International Trade & WTO

Implementation of Significant Distortions Methodology by EU in review of anti-dumping duty on exports from China

29 June 2020

The European Union (‘EU’) amended EU Regulation 2016/1036 of 08-06-2016 (‘the Basic Anti-dumping Regulation’) on 12-12-2017 through which it introduced Article 2(6a). Through this amendment, the EU created a possibility whereby actual domestic selling price and costs of producer/exporter can be rejected for determining normal value in anti-dumping investigations/reviews where there are ‘significant distortions of prices and costs’.

Goods and Services Tax

GST Council’s unbalancing act on a tightrope!

26 June 2020

As tax professionals we get excited every time we hear news about Goods and Services Tax (“GST”) Council holding periodical meetings. Some of the GST Council meetings, particularly the ones held during the second half of financial year 2017-18 have more or less been small scale budgets, with announcement on various trade facilitation measures

Customs

Rejection of transaction value – Overcoming die-hard practices of the department

26 June 2020

Customs Valuation has been an impediment to better trade facilitation and inhibits ease of doing business in India. There is a need for systemic improvement and procedural clarity for reducing disputes pertaining to Customs Valuation.

Competition and Antitrust

Regulatory Tussle: Competition Commission of India v. Controller of Patents & Ors.

19 June 2020

In its brief 11-year existence, the Competition Commission of India (“CCI”) has investigated anti-competitive conduct across several diverse sectors of the Indian economy. The CCI is the sole quasi-judicial and regulatory body established under the Competition Act, 2002 (as amended) (“Competition Act”).

Direct Tax

Tax exemption to Sovereign Wealth Funds – Whether taxable at all?

18 June 2020

The issue of taxation of foreign Sovereigns in India, does not spring up very often. The principle that a Sovereign is immune from taxation laws, has evolved over the centuries. With the Union Budget, 2020 proposing an exemption to Sovereign Wealth Funds (SWFs) in respect of certain income earned from India, the issue as to whether such entities are subject to tax in the first place has been reignited.

Corporate, Insolvency

IBC (Amendment) Ordinance, 2020 – A Game-Changer?

16 June 2020

Novel Corona Virus Disease 2019, or better known as COVID-19, has created havoc across the globe. Till date, the pandemic has infected lakhs of people across the world and the said number has been increasing rapidly each day. Due to outbreak of COVID-19, various countries including India, have imposed lockdowns to combat the spread of the disease.

Commercial litigation

Lapsing of land acquisition proceedings – Supreme Court Larger Bench answers reference

16 June 2020

The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (“2013 Act”) was passed with a view to address various inadequacies in the existing Land Acquisition Act, 1894 (“1894 Act”). The 2013 Act contains provisions for enhanced compensation as well as rehabilitation and resettlement.

Competition and Antitrust, Intellectual Property

Anti-competitive practices in patent licenses

15 June 2020

The Delhi High Court has upheld the CCI’s jurisdiction in matters concerning alleged anti-competitive practices for protection of the Patent Rights but at the same time upheld his previous decision clearly holding that the domain of CCI and Patent Controller are distinct and not necessarily in conflict.

Goods and Services Tax

Exporting under GST – A Boon or Bane?

28 May 2020

The COVID-19 pandemic has majorly hit the trade and industry, slowing down economies around the globe. The businesses in India have also been severely impacted by the recent lockdown which has created a fear of recession in the economy.

Aarogya Setu and Privacy Concerns

27 May 2020

Aarogya Setu is a mobile application launched by the Government of India on April 2, 2020. As per the terms of service of the Aarogya Setu Application (“ASA”), the intention is to provide a service to notify, trace, and suitably support a registered user regarding the COVID-19 infection. The press release1 issued by the Ministry of Electronics and IT explains the functioning of the application in the following manner

International Trade & WTO

Introduction of Significant Distortions Methodology in the EU’s anti-dumping laws

26 May 2020

Anti-dumping duty on the import of product cannot exceed the margin of dumping. Dumping margin is the difference between normal value and export price and is specific to the exporter concerned. Normal value means selling price in the domestic market of the exporting country in the ordinary course of trade.

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