articles
GST liability on transfer/disposal of assets in lieu of tax liability
23 May 2017
European Union’s Court of Justice has recently (on 11th May, 2017) held that transfer of tangible property to the State Treasury in settlement of arrears of taxes constituting State Budget revenues is a transaction that is not subject to VAT.
International Trade & WTO
Confidentiality in anti-dumping investigations: Supreme Court interprets Rule 7
22 May 2017
A key feature of anti-dumping investigations is the protection available to commercially sensitive information that interested parties provide to an investigating authority.
Intellectual Property Rights
No copyright protection in drawings used on large scale without design registration
19 May 2017
A Single Judge of the Delhi High Court, in April 2017, dealt with the concept of copyright protection in designs in the case of Holland L.P. & Anr. v. A.D. Electro Stell Co.Pvt. Ltd.
Banking & Finance, Regulatory Laws
Dawn of future watchdog for foreign investment in India
02 May 2017
Foreign investments in India are allowed in two routes; (i) automatic route, and (ii) approval route. Since, there was no approval necessary for the automatic route, several sectors were categorized into the approval route. Prior to the economic liberalization in 1991,
Mergers & Acquisitions / PE
Cross-border merger provisions notified
02 May 2017
The Ministry of Corporate Affairs (MCA) has notified Section 234 of Companies Act, 2013 (Companies Act), which specifically deals with cross-border mergers concerning merger or amalgamation of an Indian company with a foreign company and vice-versa, and has come into effect from April 13, 2017.
Direct Tax
GAAR – An Indian-Asian Narrative
27 April 2017
Taxes are mandatory and necessary. Opinion, however, has been divided on the issue that whether taxes are avoidable? The famed Ramsay judgment held that taxes are not avoidable.
E-Way Bill – Taking GST on digital highway
27 April 2017
The concept of way bill and the requirement for every consignment of goods being moved to be accompanied by a way bill (besides other documents) has been retained under the GST regime, albeit electronically.
Applicability of GST on GTA
27 April 2017
The Final GST Act is here, still many issues lack clarity and could result in disputes with the tax authority, owing to different interpretations and views between businesses and the department.
International Trade & WTO
Brexit: Invalidation of existing trade remedy measures in the EU
24 April 2017
With the UK parliament passing the Brexit Bill on 14th of March 2017 paving the way for the government to trigger Article 50 of the EU Treaty (which allows the UK to begin the process to exit from the European Union), Brexit may now only be a matter of time.
Intellectual Property Rights
Assessing ‘Likelihood of Misrepresentation’ in matters of passing off
24 April 2017
Indian Courts have predominantly applied the test, termed as the ‘Classical Trinity factors’ as set out in the landmark House of Lords decision in Reckitt & Colman Products Ltd v Borden Inc.
Corporate Advisory
Scope of ‘Any other person’ under Companies Act, 2013
03 April 2017
In two recently delivered orders of the National Company Law Tribunal (NCLT), the question under consideration was whether a person who is unable to demonstrate having an ‘interest’ in the affairs of a company, is entitled to obtain copies of such company’s statutory registers.
E-Waste (Management) Rules, 2016 – Highlights
03 April 2017
The Central Government has notified the E-Waste (Management) Rules, 2016 (the EWM Rules, 2016) which supersede the E-Waste (Management and Handling) Rules, 2011, (the EW Rules, 2011). The EWM Rules, 2016, have come into force from 1st October 2016.
Direct Tax
Finance Bill, 2017 – A look at further amendments
27 March 2017
This year’s Budget was different in many ways. While the Finance Minister opted to present it on 1st February and departed from the decades-old tradition of presenting it on the last day of February, it also saw the merger of the rail budget alongside.
Intellectual Property Rights
Design infringement - Liability of intermediary & Information Technology Act
23 March 2017
The term ‘intermediary’ in legal terminology and as per the Information Technology Act, 2000 means any person who on behalf of another person receives, stores or transmits that record or provides any service with respect to that record and includes telecom service providers..
Invoicing under GST
17 March 2017
India’s decade long wait for a national tax on supply of goods and services that will create one of the world’s biggest single market could be almost over by July 1.
GST - Credit entitlement on free samples
17 March 2017
In the past year our country has witnessed some bold decisions taken by the Government, one of which was passing of 101st Amendment Act to the Constitution paving the way for Goods and Services Tax Act (GST).
International Trade & WTO
AD investigations – Rate of duty for non-cooperating exporters
15 March 2017
The recent Panel Report in Canada – Welded Pipe has reinforced the disciplines for applying “facts available” standard under the WTO Anti-dumping Agreement (AD Agreement) and has clarified the extent of analysis expected from investigating authorities while applying the standard.
Corporate Advisory, Insolvency
Winding Up – Legal position under Companies Act, 2013 vis-à-vis Insolvency and Bankruptcy Code, 2016
03 March 2017
Prior to November 15, 2016, the term “winding-up” was neither defined under the Companies Act, 1956 (“1956 Act”) nor under the Companies Act, 2013 (“2013 Act”).
Direct Tax
Transfer of title without registration - Finance Bill 2017 addresses the dilemma
22 February 2017
The Supreme Court in the case of Shoorji Vallabhdas reported in [1962] 46 ITR 144 (SC) held that “No doubt, the Income-tax Act takes into account two points of time at which the liability to tax is attracted, viz., the accrual of the income or its receipt; but the substance of the matter is the i