We, at L&S, are committed to helping our clients stay ahead of legal and market trends and hold regular Seminars, Conferences and Trainings on various legal and law related topics in India.

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Past events

June 2022

A new re-assessment regime has been introduced under the Income-tax Act, 1961 (‘Act’) with effect from 1st April 2021 bringing in sweeping changes in both law and practice. While the erstwhile scheme was founded upon the Assessing Officer’s “reason to believe” that income chargeable to tax has escaped assessment, the new regime is centered around robust information collection mechanism (including inter departmental communications) being developed by the CBDT.

May 2022

The Supreme Court on 19th of May delivered two historic decisions, Union of India v. Mohit Minerals and Commissioner v. Northern Operating Systems. The decision in Mohit Minerals case holds that IGST is not payable by the importer on the ocean freight component when goods are being imported on CIF basis.

May 2022

The Government of Telangana has introduced a ‘One Time Settlement Scheme’ vide Order No. G.O.Ms. No. 45 dated 9.5.2022 to settle the disputed tax under the legacy Acts such as Andhra Pradesh General Sales Tax Act, 1957, the Telangana Value Added Tax Act, 2005, the Central Sales Tax Act, 1956 and the Telangana Entry of the Goods into Local Areas Act, 2001.

May 2022

The Supreme Court in its recent judgment of Union of India v. Ashish Agarwal [Civil Appeal No 3005/2022, decision dated 4 May 2022], has sought to strike a balance between the amendments made by the Finance Act, 2021 to the scheme of re-assessment, and the extension of period of limitation by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020

March 2022

The avowed objective of the Legal Metrology Act, 2009 is to protect the interest of consumers from the perspective of security and accuracy of weighments and measurements. In furtherance of the same, Legal Metrology Packaged Commodities Rules, 2011 inter alia mandates printing of specified declarations on commodities imported/manufactured and sold in pre-packaged form. Recently certain amendments have been proposed to the PC Rules and the same will be made effective from 01.04.2022.

March 2022

Since the time GST has been in force, w.e.f. 01.07.2017, there has been quite an amount of deliberation, debate and ambiguity on the aspects of “Input Service Distribution (ISD)” [which deals with distribution of input tax credits on input services] and “Cross charging” [which deals with provision of support services by one distinct person/related party to another distinct person/related party in terms of Schedule I of the CGST Act]. There has always been a doubt as to whether both are required

February 2022

The Union Finance Minister will be presenting the Union Budget 2022 on 1 February 2022. Lakshmikumaran & Sridharan, is organizing a webinar on “Budget 2022 – Decoding the Tax Proposals” on 2 February 2022 (Wednesday), from 04:30 pm to 06:00 pm to dissect and analyse the tax proposals and their possible impact on various stakeholders like manufacturers, service providers, traders, exporters, importers, etc.

February 2022

L&S is delighted to present to you a special webinar on "Crypto Transactions – Analysis of Tax introduced in Union Budget 2022-23". The session shall be led by our eminent tax expert Mr. Badri Narayanan, Executive Partner who shall dwell upon the newly introduced tax implications and challenges surrounding the cryptocurrencies.

January 2022

Raising funds is crucial at many stages in the life cycle of a company. Traditionally, the funds could be brought-in either by the promoters or could be raised by debt. However, with the bullish Indian stock market, more and more companies are raising funds by using the option of initial public offerings (IPOs).

January 2022

Based on the OECD recommendations, India has imposed Goods and Services Tax (GST) on digital services. The concept is similar to electronically supplied services (ESS) taxed under the European VAT regime. Under the GST law in India, any foreign company making B2C supplies of services which are delivered over the internet and are essentially automated, involving minimal human intervention, is required to pay tax in India.

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