articles
Direct Tax
Dichotomy between Gross and Net amount - Analysis of Vijay Industries Judgment
25 March 2019
By Mahendra Singh Introduction: The Income-tax Act, 1961, under Chapter VI-A, provides for certain special deductions. These special deductions have been subject matter of litigation all along. One such pr
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