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

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International Trade & WTO

Implications of facilitating trade — India and the Trade Facilitation Agreement

February 10 2017

The Trade Facilitation Agreement (TFA) negotiations were concluded in 2013, and the Agreement is set to come into force, in terms of Article X:3 of the Marrakesh Agreement, upon domestic ratification by two-thirds of the WTO membership, i.e., by 110 members. Nepal recently became the 108th member t

Regulatory Laws

Stamp Duty issues in slump sale transactions

February 06 2017

Slump sale is a commonly used method of business acquisition wherein an undertaking as a “going concern”is transferred from one entity to another. The term ‘slump sale’ incorporated under the Income Tax Act, 1961 [See End Note 1] (“IT Act”) has been defined to constitute the following elements:

Intellectual Property Rights

World famous or not-Trans-border reputation in trade marks

January 24 2017

Trans-border reputation as the name suggest means reputation that has spilled over to other jurisdictions wherein there is neither use of the trade mark in question nor the trade mark registered.

Direct Tax

TDS on sea freight – Good times for time charter ?

January 23 2017

Computation of income of non-resident shipping entities posed many challenges and to ease the same Section 44B was enacted vide Finance Act, 1975 w.e.f. 1 April 1976.

International Trade & WTO

EU-Biodiesel: “Input Costs” in Constructed Normal Value

January 16 2017

The WTO Appellate Body (AB) has recently delivered the final word on construction of normal value. In European Union - Anti-Dumping Measures on Biodiesel from Argentina (DS 473) [see end note 1]

Inter-State supplies under Model IGST Law – Treatment of FOR & Ex-works supplies

January 13 2017

One of the many disputes that have continued to exist in the present regime of taxation of sale of goods are the disputes pertaining to determination of the nature of transaction as inter-State sale subject to Central Sales Tax or local sale subject to VAT.

Challenges in availment of Input Tax Credit under GST

January 13 2017

The Revised Model GST Law (hence forth "RMGL") was made available in public domain in November, 2016. The commitment of the government is to roll out a simplified and easier indirect tax regime, yet the provisions reveal a different picture.

Corporate Advisory | Mergers & Acquisitions / PE

Mergers & Acquisitions provisions notified in Companies Act

January 03 2017

The Companies Act, 2013 (Companies Act) is one of the landmark legislations enacted in recent years to bring forth transparency, ease of doing business and protecting rights of minority shareholders. The Companies Act was, in many ways,

Regulatory Laws

Benami Transactions (Prohibition) Act - A Study in Comparison

January 02 2017

In a further crackdown on the parallel economy that has affected the Indian economy adversely, the Central Board for Direct Taxes (CBDT) on November 1, 2016 has notified the Benami Transactions (Prohibition) Amendment Act, 2016 (Amendment Act). 

Customs | Direct Tax

Customs valuation and transfer pricing – different valuations for the same transaction ?

December 27 2016

Globalization has brought along with it various taxation issues, the most talked about being, transfer price of goods being traded amongst enterprises forming part of a same business group (‘related entities’).

Intellectual Property Rights

Secrecy directions in designs

December 22 2016

Most of us are familiar with provisions in Patents Law related to secrecy directions [see end note 1] on inventions relevant for defence purposes and the security of India; however, similar secrecy directions are also provided under the Designs Law [see end note 2].

Anti-Profiteering measure and price control mechanism under GST

December 20 2016

The revised model Goods and Services Tax (GST) law has been released by the Government, taking into consideration various representations received from the stake-holders.

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