articles
International Trade & WTO
Cohen’s D test – An insight into the statistical tool used by the USDOC for determining targeted dumping
02 July 2024
The article discusses how the Cohen’s D test is utilized by the United States Department of Commerce (USDOC) for analyzing the existence of targeted dumping. which refers to a specific trade practice where exporters sell their goods at an export price differing significantly among different purchasers, regions or time periods.
Goods and Services Tax
Taxability of Extra Neutral Alcohol settled or not?
01 July 2024
The article discusses the taxability of Extra Neutral Alcohol/rectified spirit (‘ ENA ’), a denatured alcohol that is predominantly used as a raw material for manufacturing of liquor for human consumption that has been a bone of dispute between the Centre and the States.
Direct Tax
Filing statutory forms within specified time to avail tax benefits: Whether mandatory or directory?
24 June 2024
The Courts in the past have held that the filing of statutory forms within the due date prescribed under the Income Tax Act, 1961, is a directory (and not mandatory) requirement, to claim deductions/exemptions that are available to taxpayers. Recently, however, the Supreme Court judgment in Wipro Limited changed the course of the river. The author observes that such a drastic consequence does not seem to be the intention of the Supreme Court.
Goods and Services Tax
53rd GST Council Meeting set to convene: What is on the horizon?
21 June 2024
In this article, the authors discuss the issues which are likely in the pipeline for upcoming GST council meetings, particularly the 53rd GST Council Meeting.
Direct Tax
The Reverse Flip Gambit: Legal and Tax Manoeuvres for Indian Startups Coming Home
19 June 2024
The article discusses the few structures for achieving a ‘reverse flip’ and the attendant implications from exchange control and taxation perspective
Intellectual Property
Trademark Siesta: The risks of neglecting use of a trademark
18 June 2024
The article discusses nuances of cancellation of a trademark due to non-use. Deliberating upon the legal framework for non-use cancellation and a recent Delhi High Court decision on same, the authors also list certain strategies which may be implemented by the trademark owners to avoid non-use cancellation. According to them by understanding the risks and taking proactive steps, one can protect a brand’s goodwill, and identity and ensure that the trademark remains a valuable asset for business.
Intellectual Property
A rising need for a modern understanding of ‘Traditional Knowledge’ under Indian patent law
17 June 2024
The article sheds light on the current Indian Patent Law associated with safeguarding Traditional Knowledge. It discusses various case law and the Indian Patent Office’s Guidelines. According to the authors, keeping in view the recent time-honoured recognition given to traditional knowledge by the WIPO treaty, a statutory definition of the term as well as judicial interpretation of Section 3(p) can help both the Examiners and the Applicants.
Corporate
PRAVAAH's role in facilitating regulatory synergy across financial entities
13 June 2024
The article discusses the role of PRAVAAH portal in facilitating how to regulate synergy across financial entities. PRAVAAH Portal is a single window mechanism for submission of application/information in an electronic format to the RBI for seeking various approvals
International Trade & WTO
Navigating the European Union’s Green Trade Frontier: Decoding EU-CBAM for Indian exporters
03 June 2024
The article discuss the EU's Carbon Border Adjustment Mechanism (‘CBAM’) which take care of carbon leakage which occurs when businesses start relocating industries to or products are imported from countries, with less stringent environment policies, apparently to circumvent the cost-intensive climate policies in the European Union. It discusses what are the scope, coverage, phase, timeline, and compliances required by exporters to the EU, in respect of certain goods.
Corporate
International Workers – Conundrum of payment of Provident Fund
02 June 2024
The recent judicial developments have led to certain legal uncertainties and contradictions for compliance in case of deputation and secondment. According to the authors, the factual matrix of employment will have to be determined based on legal jurisprudence.
Direct Tax
Impact of Section 281 on transfer of assets: Myriad issues thereunder
22 May 2024
Section 281 of the Income Tax Act, 1961 empowers the Department to declare a transfer of an asset as void where the transferor, during the pendency of any proceedings or completion thereof, but before the service of notice by a TRO, creates a charge on, or parts with the possession of any of his ‘assets’ in favour of another person. Considering the far-reaching consequences of the provision, the article highlights few practical issues.
Intellectual Property
Patentability – High Court clarifies the language of Section 3(c) of the Patents Act, 1970
21 May 2024
The article elaborately discusses a recent Madras High Court decision setting aside an order passed by the Assistant Controller of Patents and Designs which had refused the grant of a patent under Section 3(c) of the Patents Act, 1970. The Court has held that Section 3(c) would only apply to a process of finding a hitherto undiscovered non-living substance by identifying and isolating it from nature.
Goods and Services Tax
Development Rights: A service or a condition precedent to sale of land
16 May 2024
The divergent perspectives on the treatment of development rights; whether as a service or an outright sale, have led to confusion in the realm of land transactions. Therefore, while finality is anticipated from the constitutional courts in GST regime, it is prudent for businesses to take an informed call on the taxability of development rights.
Customs, Direct Tax, Goods and Services Tax
Is the difference between Tax and Fees obliterated?
07 May 2024
The article discusses the difference between Tax and Fees and how the Courts in recent time are diverting from the earlier decisions highlighting the difference between Tax and Fees.
Corporate, Regulatory
DPDPA: Concerns and impact in the online gaming world
02 May 2024
The article discusses how the gaming industry will be impacted by the Digital Personal Data Protection Act, 2023. It discusses how the new law once enforced will require platforms, gaming developers, and gamers (or users) alike to pay attention to the framework under which personal data may be processed, notices reviewed, consents provided (where required) and rights exercised with regard to the processing of personal data.
International Trade & WTO
Beyond territorial reach: Transnational subsidies and the evolving landscape
01 May 2024
The article discusses the nature of transnational subsidies, in which a government of one country subsidizes a firm outside of its territory. It explores whether these subsidies can be acted upon under the WTO’s Agreement on Subsidies and Countervailing Measures (SCM Agreement), and how certain countries such as the EU and the US are tackling these subsidies.
Direct Tax
From a taxman lens: Life Insurance Policy vis-à-vis Annuity – The modern-day conundrum
22 April 2024
The drastic difference in income-tax treatment of both – Life Insurance Policies and Annuities, requires closer examination of their meaning to distinguish one from another. Demonstrating that there is a thin line of difference between features offered by modern iterations of life insurance policies and annuities, the author points out that it is crucial for insurance companies to take proactive steps to separate the elements of the life insurance policies from that of annuities.
Intellectual Property
Plant variety protection – Procedural infirmities, not impacting eligibility of applicant/application for registration, are not fatal
19 April 2024
The article discusses the recent Delhi High Court Division Bench decision which has held that procedural infirmities, which have no impact on the eligibility of the Applicant to apply for a plant variety application or on the eligibility of the application for registration, are not fatal to the registration, unless such infirmities are due to willful misrepresentation or to gain any undue advantage.
Corporate, Regulatory
MEITY Advisory: Dawn of AI Regulation in India or a false start
01 April 2024
The Ministry of Electronics and Information Technology has on 15 March 2024 issued an advisory on use and deployment of artificial intelligence tools. The advisory subsumes a previous advisory dated 1 March 2024 on this subject. As part of the now expanded diligence requirements as per new advisory, the article elaborately discusses what the new advisory now requires the intermediaries to ensure.