articles
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
Intellectual Property Rights
Liabilities of an intermediary – The Indian perspective
10 January 2019
By R. Parthasarathy & Godhuli Nanda Electronic commerce or e-commerce, as is commonly known, is a transaction between the buyer and the seller which takes place online i.e. the purchase-sale of goods/services and not from ph
International Trade & WTO
Rule 22 and jurisprudence: Duty margins for new shippers in case of sampling in original investigation
20 December 2018
By Greetika Francis Rule 22 of the Indian Anti-Dumping Rules provides that the Authority shall carry out a new shipper review to determine individual margin of dumping for a new producer or exporter if (i) the producer or exporter has not exported t
Intellectual Property Rights
Regularization of non-compliance with the Biological Diversity Act, 2002
17 December 2018
By Dr. Deepti Malhotra & Dr. Malathi Lakshmikumaran Biological diversity or biodiversity encompasses the entire species of plants, animals and microorganisms, including variability and their
Direct Tax
Conversion of company to LLP - Capital gains tax implications
14 December 2018
By Prerana Priyanshu In the past few years, the corporate landscape has witnessed de-corporatisation of many companies, perhaps, because of the regulatory burden imposed on them under the erstwhile and present company laws. With the enactment of the Limited
Goods and Services Tax
Denial of ITC for non-possession of e-way bill - An unfounded proposition
12 December 2018
By Nirav S. Karia & Nivedita Agarwal The Goods and Services Tax, the government’s most ambitious project and tax reform, is largely dependent on deployment of right technology and infrastructure for successful implementation. The introduction of t
Goods and Services Tax
Liaison office in India – The GST connection
12 December 2018
By Nirali Akhani A foreign company/ investor intending to expand business in India can do so by opening a branch office, project office, etc., or by establishing a liaison office in India among various other options. However, if the foreign company/investor
Regulatory Laws
Adding teeth to the corruption law in India
10 December 2018
By Akshita Alok In February 2018, the Corruption Perception Index 2017 rankings were revealed, which ranked India at #81 amongst a group of hundred and eighty countries. This ranking in the year 2016 was at #79 for India, albeit the scores in both the years
Regulatory Laws
Dawn of the regulatory regime for Over-The-Top services
10 December 2018
By Prashant Phillips Introduction The Telecom Regulatory Authority of India (TRAI) had recently released a consultation paper on regulatory framework for Over-the-Top (OTT) Communication Services. The ever-incr
Direct Tax
Privity of contract and locus with a source of income – A test of diversion by overriding title
27 November 2018
By Prachi Goel & Saurav Sood The manufacturing business can be undertaken either on own account or by way of a job work. In case the job work is chosen as an option, the manufacturer absolves itself from the whole or any part of