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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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Goods and Services Tax

CGST Rule 36(4) - 20% of which credit are you eligible for?

27 November 2019

Change is the only constant’ - A phrase the CBIC seems to have adopted with the trade being bombarded with a barrage of amendments and day to day clarifications in the GST laws since the implementation of GST.

Customs, Goods and Services Tax

Pre-import condition and Rule 96(10) - Misplaced comforts and GST implications for Advance Authorization holders

27 November 2019

With the end of 2019 right around the corner, it is interesting to reflect back on the changes that the tax fabric has seen in the past year. One of the major reliefs that the assessees received at the beginning of 2019 (in January) was the removal of a ghost known as “Pre-import condition” specifically for manufacturers who were Advance Authorization holders.

International Trade & WTO

Panel Report in India-Export Related Measures – End of the road for export promotion programs?

26 November 2019

On 14 March 2018, the United States requested consultations with the Government of India under the WTO Dispute Settlement Mechanism on some of the export promotion programs maintained by India.

Goods and Services Tax

The Dividend Dilemma

30 October 2019

In order to stay one step ahead, it is imperative for every business to take stock of its financial position to devise a suitable investment strategy from time to time. While some may settle with the traditional approach of buying and holding stable dividend paying stocks to generate a steady income stream, others may adventure in frequent trading, holding the stocks just long enough to capture dividend it pays.

International Trade & WTO

Regional Comprehensive Economic Partnership (RCEP): India’s concerns

25 October 2019

The mega trade agreement amongst ASEAN and its FTA partners, the Regional Comprehensive Economic Partnership, is slated for conclusion by November 2019.

Direct Tax

Deduction for additional employment - Simple yet ambiguous

23 October 2019

In the wake of rising reports on unemployment, the Central Government has taken various steps to fulfil its commitment of job creation. As part of these efforts, the provisions of Income-tax Act, 1961 (‘IT Act’) were amended[see endnote 1] to substitute the provisions of Section 80JJAA of the IT Act[see endnote 2] with seemingly less restrictive and simpler provisions to encourage job creation.

Intellectual Property

State Biological Diversity Rules – A puzzle waiting to be solved

18 October 2019

India ratified the Convention on Biological Diversity (CBD), which was held in Rio de Janeiro, Brazil, in 1992[endnote 1] by becoming a Party to it on February 1994. Thus, bega

Mergers & Acquisitions / PE

‘Appointed date’ in a scheme of arrangement – More flexible and effective

09 October 2019

A scheme for reconstruction of a company or companies involving merger or amalgamation under Chapter XV of the Companies Act, 2013 ("Companies Act") envisages two dates i.e. the "appointed date"

Regulatory Laws

Draft Employees’ Provident Funds and Miscellaneous Provisions (Amendment) Bill, 2019 – An analysis

09 October 2019

The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (“EPF Act”) is a social welfare legislation which aims to provide social security benefits such as Provident Fund, Superannuation Pension, Invalidation Pension, Family Pension and Deposit-Linked Insurance to employees.

Direct Tax

Satisfaction of the ‘make available’ condition in services of short duration – An analysis

30 September 2019

The interpretation of the 'make available' clause in respect of Fees for Included Services (FIS) in the India-US DTAA had been matter of much debate, more so since certain other treaties like India-UK als

International Trade & WTO

Role of ‘adjustment plan’ in Safeguard investigations

25 September 2019

By virtue of India's accession to the World Trade Organization ("WTO"), India has agreed to the requirements of all the multilateral agreements under the framework of the WTO.

Customs

The Social Welfare Surcharge conundrum

23 September 2019

The raging dispute on levy of piggy-back cesses such as education cesses, where duty payments were made by debit to the duty credit scrips such as DEPB scrips, is yet to settle down. The controversy has come back with a r

Intellectual Property Rights

Validity and infringement of a Patent:

16 September 2019

Introduction In Communication Components Antenna Inc v. Ace Technologies Corp. and Ors [CS (Comm) No. 1222/2018], the Plaintiff had sought a permanent

Corporate Advisory

Preference Liquidation Hit or Miss?

05 September 2019

The terms of the transaction documents for mergers and acquisitions are often dictated by the economics of investment and the bargaining position of the parties. The terms so contractually ag

Competition Law

Supreme Court upholds COMPAT order directing competition investigations against UBER

04 September 2019

On 3rd September 2019, the Supreme Court of India ('SC&') dismissed [See endnote 1] an appeal filed by Uber India Systems Pvt. Ltd. ('Uber') against the or

Goods and Services Tax

Amendment to Section 12(8) of the IGST Act – Simplifying or complicating?

27 August 2019

Goods and Services Tax, which was touted as a single tax reform, has completed two years in the country. It is needless to say that GST was never a perfect taxation syst

Goods and Services Tax

Conundrum of employer-employee relation – HR policies and GST implications

26 August 2019

Flow of consideration in any form to an employee from his employer has always been a subject of dispute as far as taxation laws are concerned. While exemption from indirect

International Trade & WTO

SEZs whether eligible constituent of “Domestic Industry” under Indian trade remedial laws?

26 August 2019

A policy was introduced on 1st April 2000 by the central government for setting up of Special Economic Zones (“SEZ”) in the country with a view t

Direct Tax

Keeping the cash in check

20 August 2019

The Government of the present day, continuing from its previous tenure, has placed emphasis on harnessing the power of information technology in improving the governance in the country.

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