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Goods and Services Tax

Burden of unified registrations for EOUs and DTA units

22 March 2019

By Anupama Ravindran This article intends to highlight certain issues with regard to restrictions on refund of integrated tax paid on exports, for multiple business units having a single GST registration. Section 54 of the CGST Act st

Goods and Services Tax

Breaking the credit chain – An avenue to boost revenue?

22 March 2019

By Brijesh Kothary The Goods and Services Tax Council, in its 34th meeting held on 19-3-2019 recommended certain measures to streamline implementation of lower effective rates of GST for real estate sector. In its previous meeting, the GST Council r

Intellectual Property Rights

Trademarks – Use of a generic prefix, how far effective

18 March 2019

By R. Parthasarathy & Abhishek Yadav The question whether a mark is descriptive or invented, has always been a contentious one. The Supreme Court in 1994 dealt with this issue in J.R. Kapoor v. Micronix India. In the

Corporate Advisory, Regulatory Laws

Directors receiving remuneration are employees as per ESI Act

11 March 2019

By Ankit Parhar In Employees' State Insurance Corporation v. Venus Alloy Pvt. Ltd.[See endnote 1], the Supreme Court has held that Directors of a company, who are receiving remuneration, would fall within the definition of a

Corporate Advisory

Relief to disqualified directors under the Companies Act, 2013

11 March 2019

By Tanya Sharma and Anantha Desikan Section 164 of the Companies Act, 2013 (“Companies Act”) deals with the eligibility criteria for appointment of a director in a company and one of the eligibility criteria is that in case a comp

Securities Laws

Banning of Unregulated Deposits Schemes Ordinance, 2019

11 March 2019

By Sudish Sharma and Vishakha Singh Indian economy in the recent times has witnessed a plethora of fraudulent corporate malpractices. The issue of illegal deposit-taking activities has been a concerning one, causing various fi

International Trade & WTO

Analysis of “Material Retardation”: A WTO jurisprudential perspective on DGTR’s recent findings

27 February 2019

By Greetika Francis The Directorate General of Trade Remedies (DGTR) in India has had scant opportunity to address situations of injury in the form of “material retardation to the esta

Intellectual Property Rights

Punitive damages in trademark infringement suits

26 February 2019

By R. Parthasarathy & Gunjan Hans “The disobedience or breach of an injunction has to have consequences in law. If strict action is not taken, orders of Courts would not be complied with by litigants&hellip

Goods and Services Tax

Revision of returns & forms – Need for amendments

25 February 2019

By Nipun Arora GST is about to complete twenty months since implementation. Initially, it was expected that it will take an approximate time-period of two years for the industry to fully comprehend GST and be compliant with the provisions of GST law. Howev

Goods and Services Tax

Liability to pay interest – An interesting interpretation

25 February 2019

By Rahul Jain & Rohan Muralidharan Under the GST regime, the rate of interest levied for failure on the part of the assessee to pay the tax within the due date is a staggering 18% as opposed to interest on delayed refunds at 6%. The issue

Direct Tax

Taxes on Online Gaming: Resolving the TDS Anagram

19 February 2019

By Neha Sharma Online gaming combines both traditional as well as innovative games, in which players or users are engaged by the portals/ operators using technology and internet. Though online gaming and offline/ live versions have significant funct

Insolvency

Corporate Insolvency Resolution Proceedings under IBC are independent of winding-up proceeding under Companies Act, 1956

06 February 2019

By Ankit Parhar In Forech India Ltd. v. Edelweiss Assets Reconstruction Co. Ltd.[See endnote 1], the Supreme Court has held that an Insolvency Petition may be filed against a corporate debtor irrespective of the pendency of a winding-up pet

Securities Laws

Indemnity clause in a Share Purchase Agreement

06 February 2019

By Anurag Pareek Introduction Indemnity is the promise by one to compensate for any loss, liability or damage incurred by another due to an act or omission on the part of one or of some third person or an eve

International Trade & WTO

Manual of Operating Practices for trade remedy investigations - A step towards transparency

24 January 2019

By Neeraj Chhabra In a significant step towards transparency, the Directorate General of Trade Remedies (“DGTR”) has recently issued Manual of Operating Practices (“manual”) for trade remedy investigations and Handbook

Direct Tax

Liaison Office as PE under India-US DTAA

21 January 2019

By Tanmay Bhatnagar A liaison office is defined under the Foreign Exchange Regulations as a place of business, which is meant to merely act as a channel of communication between the Head Office and other entities in India. Such liaison office is not

Securities Laws

Liquidated damages in Share Purchase Agreements

17 January 2019

By Anurag Pareek Liquidated damages (LDs) are the pre-estimated sum to be paid by way of compensation in the event of breach of a stipulated term of the contract. Share purchase Agreements (SPAs) frequently provide for LDs in the event of certain br

Regulatory Laws

Diagnosing the issues of E-pharmacies

17 January 2019

By Ahalya Chalasanil With the increasing usage of internet, sale of most day to day things have gradually changed from traditional shops to online retail. Pharmacies are no exception to this. Though retail E-pharmacies began in Europe sixteen years

Goods and Services Tax

Treatment of value of moulds & tools in GST regime

14 January 2019

By Astha Sinha, Nivedita Agarwal & Nirav Karia The issue of inclusion or otherwise of amortised value of tools and moulds in the supplies made by contract manufacturers and job workers has once again been raked up after the advent of

Goods and Services Tax

Inverted duty structure in exports – Perplexity in refund

14 January 2019

By Chaitanya R. Bhatt & Saurabh Malpani The GST regime adopted by India is a uniform system which follows multi-rate tax structure due to socio-economic considerations. Such structure gives rise to a situation of “inverted

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