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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

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

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