The introduction of Personal Data Protection Bill, 2019 before the lower house of the Parliament marks a new milestone for data privacy in India. The 2019 PDP Bill, and the Data Protection Authority to be created under it, will have the power to impact all types of business and industry. The Bill also touches upon crucial aspects relating to the use of anonymized and non-personal data held by businesses. While largely aligned with the EU GDPR,More info
Income-tax implications of debts settled under IBC
- An analysis from perspective of all stakeholders
The insolvency and bankruptcy regime, with crucial rulings, timely legislative and regulatory action, has seen a number of amicable commercial settlement of long outstanding debts. The regime is further expected to smoothen recovery of debts from ailing borrowers.More info
The new Goods and Services Tax (GST) regime has been developing at a fast pace. These developments can either happen by way of decisions pronounced by various judicial forums or by way of changes in law. It is important for the businesses to be up-to-date with the same.
Corporate Tax cut – An analysis of Taxation Laws (Amendment) Act 2019
Lalit 1&2, The Lalit Ashok, Bengaluru
The Taxation Laws (Amendment) Act, 2019, which replaces the Taxation Laws (Amendment) Ordinance, 2019, has recently come into force. An option has been given to domestic industries to avail lower rates of corporate tax at 22% and 15%, subject to conditions.
A brand new ‘script’ featuring scrips: An analysis of a recent judgement of the Hon’ble Madras High Court
The issue of exemption from Social Welfare Surcharge (SWS) on imports made against MEIS and SEIS duty credit scrips has been mired with prolonged litigation and the disputes are pending at various judicial forums.
Conference Call Advertising Standards Council of India
- An analysis of powers of ASCI
The Advertising Standards Council of India, a voluntary self-regulatory body, has been exercising powers over the advertisements aired on television for a considerable amount of time. Only recently, has ASCI been vested with “powers” by the Central Government for advertisements in certain priority sectors such as food, health, education, housing, financial services and e-commerce. ASCI has been adjudicating complaints and passing strictures against violators according to the code drafted by it.
L&S Breakfast Briefing
Insolvency and Bankruptcy: Financial Creditors – Emerging challenges & strategies
2019 has been a historic year in the evolution and development of the insolvency and bankruptcy regime, with crucial rulings, timely legislative and regulatory action.
Seminar on Export promotion schemes and Investigations
Cities: Bangalore, Mumbai, Chennai and New Delhi
Lakshmikumaran & Sridharan (L&S) is participating as Knowledge Partner in a seminar series being organised by Institute of Business Laws (IBL), on in Bangalore, Mumbai, Chennai and New Delhi on 17th, 18th, 19th and 20th of December 2019, respectively.
Exemption from duty is not exemption from Cess, holds Supreme Court – A discussion
The issue as to whether cesses (education cess, Secondary and higher education cess, automobile cess and National calamity contingent duty (NCCD)) are also exempted when a notification exempts basic excise duty, has been under litigation for several years now.
Taxation Laws (Amendment) Bill – Key changes
The Taxation Laws (Amendment) Ordinance was promulgated on 20-9-2019 to bring in certain amendments to the Income Tax Act, 1961, providing option to corporate assessees to opt for a corporate tax rate of 22% and also an option to be taxed at 15% for assessees who commence production or manufacture before 31-3-2023. The Taxation Laws (Amendment) Bill was introduced on 25-11-2019 proposing to incorporate the changes in the Act and has been passed by the Lok Sabha on 2nd of December.
Conference Call - Insolvency and Bankruptcy
Key take-aways from the Supreme Court judgment in Essar Steel
This is in succession to our previous con-call held on August 9, 2019. The Supreme Court in its judgment of Committee of Creditors of Essar Steel India Limited v. Satish Kumar Gupta dated November 14, 2019 (“Judgment”) has set aside the decision of the National Company Law Appellate Tribunal (“NCLAT”).
The new Goods and Services Tax (GST) regime has been developing at a fast pace. These developments can either happen by way of decisions pronounced by various judicial forums or by way of changes in law. It is important for businesses to be up to date with the same.