articles
Corporate, Mergers & Acquisitions / PE
Payment recovery mechanism against erring foreign importers
22 September 2022
Since 1991, the opening of Indian markets during the liberalization, privatization and globalization drive in India led to a boost in international/ foreign trade. However, as is said, every coin has a flip side. With increasing globalization and international trade, the risk of non-payment/ non-realization against the exports made to the foreign importers has increased accordingly.
Intellectual Property
Applicability of the Doctrine of Equivalents in the Indian context
21 September 2022
With the passage of time, new technology is emerging day by day and this has resulted in a greater number of patent related disputes than ever. One of the key elements surrounding a patent dispute is the construction of the claim language, or claim construction, to determine their scope and extent of coverage.
Direct Tax
Foreign companies’ obligation to file tax return in India
19 September 2022
One of the issues of wide interest and contemplation is whether a foreign company is liable to file a return in India when there is income accruing or arising in India but the same is not liable to tax, either because of an exemption under the Income Tax Act, 1961 or on account of the beneficial provisions of the Double Taxation Avoidance Agreements (DTAA). The article deals with various circumstances...
Intellectual Property
Indo-Pacific Economic Framework and future of cross-border data flows
16 September 2022
India, 13 (thirteen) other Asian countries and the United States are part of an Indo-Pacific Economic Framework (IPEF) which share a commitment to free, open, fair and a prosperous Indo-Pacific that has the potential to achieve sustained and inclusive economic growth.
Competition and Antitrust
“To Deal or Not to Deal is the real question” - Vertical Restraints in the FMCG Sector
31 August 2022
One of the objectives of the Competition Act, 2002 (“Act”) is to ensure that all market participants enjoy freedom of trade, allowing them to freely decide their choice of business, their modus operandi, and take other commercial decisions.
International Trade & WTO
Reference-price based anti-dumping duty: The Indian perspective
29 August 2022
Anti-dumping investigations are conducted to determine the existence of dumping which causes injury to the domestic industry in the investigating country. In simple language, dumping is the act of exporting the product at a price lower than the price at which the said product is sold in the domestic market of the exporting country, thus causing injury to domestic producers in the importing country.
Goods and Services Tax
New Rule 88B providing for manner of calculating interest – Susceptible to challenge?
25 August 2022
Due to periodical amendments, the provisions relating to levy of interest under GST has been the subject matter of varied interpretations. The issue concerning payment of interest on the gross/net tax liability in case of delayed payment of taxes was the subject matter for our article published in Tax Amicus (May 2022/Issue 131).
Regulatory
Advent of a new-era Digital India Act – Key aspects to look out
23 August 2022
The Government is in the process of drafting a ‘Digital India Act’ which is slated to replace the Information Technology Act, 2000 and propose a comprehensive framework for IT, regulation of social media platforms, streaming platforms, govern use and deployment of new technologies and introduce certain other provisions. The article highlights the focal points of this regulation and provides some thoughts on each of those aspects.
Commercial litigation
Supreme Court clarifies on assessment of amalgamated entities
22 August 2022
The article examines the rationale and thrust of a recent Supreme Court decision in the case of Mahagun Realtors (P) Ltd., wherein the Apex Court has clarified that an amalgamation would not per se invalidate an assessment order issued in the name of the transferor company. Discussing the facts of the case, the authors elaborate on the findings of the Court that notice issued in name of amalgamated entity is not always fatal to the proceedings
Direct Tax
Violation of Section 13 of the Income Tax Act – Denial of entire exemption vs. partial exemption
19 August 2022
The Income Tax Act, 1961 (‘IT Act’) provides for various benefits for trusts which are established for charitable or religious purposes and registered under the IT Act. Sections 11 and 12 of the IT Act are the substantive provisions for exemptions available to religious and charitable trusts.
Intellectual Property
Trademark squatting – Jurisdictional perspectives
18 August 2022
The ‘Doctrine of Territoriality’, accords protection to a trademark within the territory of the state where it has been registered or used. In simpler words, it means that a trademark shall be protected against any unauthorized use by any person within the country where it has been registered, used, or is known to the public.
Intellectual Property
Data Protection Bill withdrawn: Roadblocks towards a comprehensive data protection framework
05 August 2022
This week witnessed yet another roadblock towards a comprehensive data protection framework for India, as the Data Protection Bill, 2021 (‘Bill’), as reported by the Joint Committee of the Parliament (‘JCP’), was withdrawn in the Parliament , amidst reports that a comprehensive legal framework is being worked upon, considering the recommendations of the JCP.
Intellectual Property
Data Privacy in India: Implementation Series – Preparing a Privacy Notice – Part 2
01 August 2022
In Part 1 of the Implementation Series, we discussed the first four essentials as proposed under the Data Protection Bill, 2021 (the ‘Bill’). Here, we will deal with the next four elements of a privacy notice specified under Clause 7 of the Bill.
International Trade & WTO
Opening market access in government procurement through India-UAE FTA
29 July 2022
In March 2022, India and UAE entered into a Free Trade Agreement. This Agreement is known as Comprehensive Economic Partnership Agreement (‘CEPA’). Among different aspects of trade and investment that were negotiated and incorporated under this agreement, the chapter on government procurement stands out.
Goods and Services Tax
Arrest of perpetrators for fraudulent passing and availing ITC in GST – Some issues
27 July 2022
Under the Cenvat and Modvat regime as well as under various incentive schemes under the Customs law/FTDRA, there were unscrupulous persons, who created various firms/companies in the name of other individuals, existing or non-existing, for the purposes of undertaking fraudulent paper transactions.
Intellectual Property
Data Privacy in India: Implementation Series - Preparing a Privacy Notice - Part 1
25 July 2022
India is moving towards a privacy conscious regime and is trying to catch up with the world on recognizing privacy in digital space. While handling personal data, a data fiduciary is to adhere to the principles of lawfulness, transparency, fairness, data minimisation, accuracy, integrity, accountability, purpose and storage limitation.
Direct Tax
Deduction under 10AA – Benefit available even after sunset date?
21 July 2022
Special Economic Zones (‘SEZ’) were introduced with an intent to drive economic growth along with quality infrastructure complemented by attractive fiscal package. Initially introduced in the form of SEZ Policy in 2000, the scheme was subsequently formalised in the form of SEZ Act, 2005 (‘SEZ Act’).
Corporate
Prevention of misleading advertisements – Analysis of guidelines issued by Central Consumer Protection Authority
20 July 2022
The Consumer Protection Act, 2019 (‘Act’), which came into force on 20 July 2020, defines ‘misleading advertisement’ in relation to any product or service
Intellectual Property
Single colour trademarks – A ‘grey’ area
18 July 2022
The trademark regime in India provides broad protection and covers unconventional marks such as shape marks, sound marks, image marks, combination of colours, etc. However, when it comes to single colour marks, the regime is far from colourful.