articles
International Trade & WTO
Connotation of term “Country of Export” in Anti-Dumping Duty Notification
09 October 2017
An Anti-dumping duty is levied against the goods originating in or exported from the subject countries.
Insolvency
Overriding effect of Insolvency and Bankruptcy Code
03 October 2017
Until the commencement of the Insolvency and Bankruptcy Code (hereinafter referred to as IBC) in May, 2016, there was no single legislation dealing with matters of insolvency and bankruptcy in India. It was widely known and accepted that a plethora of the erstwhile legislations apropos insolvency
Direct Tax
Inventory valuation caught in the web of ICDS, IndAS and settled jurisprudence!
26 September 2017
Valuation of inventory is not supposed to give rise to any income and therefore the same should be at lower of cost or market value, as held Apex Court in a landmark decision [see End Note 1].
Intellectual Property Rights
Groundless infringement threats
26 September 2017
Intellectual Property (IP) rights ensure that innovation is rewarded and encouraged. In recent times, there has been a proliferation of the IP rights, and a single product may be protected by a multitude of ways, such as patents, trademarks, and design rights.
Classification of leasing services – An expanding quandary
22 September 2017
After a long wait we have finally voyaged into the Goods and Services Tax regime, and are experiencing many teething problems.
Regulatory Laws
Code on Wages, 2017 – An Analysis
04 September 2017
The labour law domain in India is a reaffirmation of India’s colonial past and industrial revolution. While current labour legislations have been significantly tailored to suit the unique conditions of the Indian industry and labour force,
International Trade & WTO
Final Findings in anti-circumvention investigation concerning Cold Rolled Flat Products of Stainless Steel – An analysis
30 August 2017
Final anti-dumping duty was imposed on cold rolled flat products of stainless steel of width between 600mm to 1250mm with certain exclusions.
Understanding composite supply under GST
30 August 2017
India embarked on its tryst with Goods and Services Tax (“GST”) on 1st July, 2017. In this regard, the Union Parliament and the State Legislatures have enacted various laws for the levy and collection of GST (hereinafter collectively known as “GST Acts”).
Direct Tax
Limitation of Benefits clause in the India Singapore DTAA - An analysis of recent decisions
17 August 2017
The Mumbai Bench of the Income Tax Appellate Tribunal had occasion to examine the India Singapore Double Taxation treaty in a recent judgment in the case of Citicorp Investment Bank (Singapore) Ltd v. Deputy Commissioner of Income Tax (International Taxation) Mumbai.
Intellectual Property Rights
Patent refusal for Enzalutamide: An overview
17 August 2017
Enzalutamide, marketed by the name ‘Xtandi’, is a prescription medicine for treating men with metastatic castration-resistant prostate cancer.
Mergers & Acquisitions / PE
Mega merger in insurance on hold – A closer look
02 August 2017
The complexity surrounding transactions in relation to mergers and acquisitions can never be underscored. Such transactions undergo a prodigious milieu, which involves discussions, proposals, negotiations and most importantly, regulatory approvals.
Authority for Advance Rulings under GST
28 July 2017
In his Budget Speech of 1992-93, the then Finance Minister had assured that, in the interest of avoiding needless litigation and promoting better taxpayer relations in a scheme for giving advance rulings in respect of transactions involving non-residents was being worked out and would be put into op
International Trade & WTO
Compliance with recommendations and rulings of the DSB by the EU in trade remedy cases
19 July 2017
Article 19.1 of the WTO Dispute Settlement Understanding (DSU) provides that where a panel or the Appellate Body concludes that a measure is inconsistent with a covered agreement, it shall recommend that the Member concerned bring the measure into conformity with that agreement.
Direct Tax
Taxation of foreign companies regarded as ‘resident’ in India
17 July 2017
Tax liability under the Income-tax Act, 1961 (‘the Act’) of any person is determined based upon his residential status.
Intellectual Property Rights
Guidelines for patentability of computer related inventions – Is this the final chapter?
10 July 2017
The Patent Office has released another revised version of Guidelines for Examination of Computer Related Inventions (CRIs).
Insolvency
Disputing a dispute under Insolvency and Bankruptcy Code, 2016
05 July 2017
Disputing a dispute under Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) was enacted on May 28, 2016 with an aim to inter alia address and resolve these issues in addition to providing for the mechanism for resolution of insolvency
GST - Old order changeth yielding place to new
27 June 2017
As I sit down to type this article with the famed saying of Alfred Tennyson, despite the hectic schedule of GST assistance to the industry, both types of feelings gush – on the one side sadness creeps as the Central Excise as we know and we grew up with is going to be part of history .
International Trade & WTO
India-EU free trade agreement: State of play and way forward
20 June 2017
India and the European Union (EU) have been negotiating a bilateral free trade agreement known as the Broad-based Trade and Investment Agreement (BTIA) since 2007.
Direct Tax
Business expenses of pharma companies – A regulatory hurdle
16 June 2017
Pharmaceutical companies incur huge expenses in launching and promoting their products by way of gifts to medical professionals, holding conferences and distribution of promotional material.