articles
Direct Tax
Benefit of Most Favoured Nation clause for dividend income of non-resident – Interesting battle to watch out for before Apex Court
17 November 2022
In the tax treaties entered by India with countries such as Netherlands, France, Swiss Confederation, and Sweden, India has agreed for Most Favoured Nation clause (‘MFN clause’) with the treaty Partner. The MFN clause finds presence in the protocol to the tax treaty, which forms an integral part of the tax treaty .
Intellectual Property
Are the time limits prescribed by the Patents Act, 1970, mandatory or directory?
16 November 2022
The issue in this article discusses on the prescribed timelines set under the Patents Act, 1970 (‘Act’) and the Patent Rules, 2003 (‘Rules’) and throws insights on the flexibility of timelines set forth under different orders.
Regulatory
Amendment to the Intermediary Guidelines: Increased due diligence and grievance redressal
02 November 2022
The Ministry of Electronics and Information Technology (‘MEITY’) notified the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2022 on 28 October 2022 (‘Amendment’) which introduces certain enhanced due diligence obligations for intermediaries, changes in timeline and grievance redressal procedures and constitution of grievance appellate committees.
International Trade & WTO
Beware of sharks in the water – Navigating trade in a world of sanctions
31 October 2022
On 24 February 2022, Russian tanks and troops rolled into Ukraine, thus triggering the beginning of the ongoing conflict in Ukraine region and putting an end to the months of speculation regarding the possibility of war.
Goods and Services Tax
Essentiality Certificates under Customs and GST laws: Need for synchronization
28 October 2022
Petroleum is an indispensable commodity for the fulfilment of daily human needs. Not only does the petroleum industry act as a nodal industry for other industries like textile, automobile etc., petroleum has deep-rooted impact on the inflation rate and economic growth of a country.
Direct Tax
A quandary of claim of foreign tax credit
27 October 2022
The rapid infusion of digitisation into the business has made world one global market. In today’ era, the business transactions extend beyond national boundaries and the businesses are tailored to meet the needs of consumers over wider geographic areas.
Corporate
Ban on online gaming: The saga continues
20 October 2022
The State of Tamil Nadu has recently promulgated an Ordinance Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Ordinance, 2022 for the regulation of online gaming in the State. The Ordinance prohibits online gambling and playing of online games of chance with money or other stakes. The State government through a Schedule under the Ordinance has also identified ‘rummy’ and ‘poker’ as games of chance...
Intellectual Property
Recycle with care
17 October 2022
Section 29(1) of the Trade Marks Act, 1999 (‘Act’) provides the manner in which a registered trademark may be infringed by a person not being a registered proprietor or an authorized user of the registered trademark. It states that such a person may infringe a registered trademark if, in the course of trade, the person uses an identical or deceptively similar trademark...
International Trade & WTO
Powers of Central Government in imposing trade remedial measures: Quasi-Judicial or Legislative?
30 September 2022
Recently the Gujarat High Court in the case Real Strips v. Union of India had an occasion to decide the nature of powers exercised by the Ministry of Finance in deciding the imposition of countervailing duty. The article critically analysis the judgement of the High Court in the light of recent controversy surrounding the issue. The author analyses the issue on two metrics...
Regulatory
Draft Telecommunications Bill – An Explainer
29 September 2022
The Department of Telecommunications has released the Draft Telecommunications Bill, which proposes a comprehensive framework governing licensing of telecommunication services, right of way, standards for public safety and national security, user safety apart from other provisions. The Bill aims to develop a future-ready legal framework that aligns telecommunication law with international standards and best practices, recognizing the importance of national, cyber security and public safety.
Goods and Services Tax
Government/ PSU procurements – Possible consequences of Supreme Court decision in Bharat Forge
27 September 2022
Procurement by Government or Public Sector Undertakings through tenders has been subject to frequent litigations. The article discusses the recent decision of Supreme Court in Bharat Forge Limited which will have widespread implications on the whole procurement process. The Court has held that the supplier is required to enquire and thereafter arrive at a conclusion regarding the relevant HSN Code and the relevant rate of tax applicable to the item. Further, the Apex Court has directed that...
Corporate, Mergers & Acquisitions / PE
Payment recovery mechanism against erring foreign importers
22 September 2022
Since 1991, the opening of Indian markets during the liberalization, privatization and globalization drive in India led to a boost in international/ foreign trade. However, as is said, every coin has a flip side. With increasing globalization and international trade, the risk of non-payment/ non-realization against the exports made to the foreign importers has increased accordingly.
Intellectual Property
Applicability of the Doctrine of Equivalents in the Indian context
21 September 2022
With the passage of time, new technology is emerging day by day and this has resulted in a greater number of patent related disputes than ever. One of the key elements surrounding a patent dispute is the construction of the claim language, or claim construction, to determine their scope and extent of coverage.
Direct Tax
Foreign companies’ obligation to file tax return in India
19 September 2022
One of the issues of wide interest and contemplation is whether a foreign company is liable to file a return in India when there is income accruing or arising in India but the same is not liable to tax, either because of an exemption under the Income Tax Act, 1961 or on account of the beneficial provisions of the Double Taxation Avoidance Agreements (DTAA). The article deals with various circumstances...
Intellectual Property
Indo-Pacific Economic Framework and future of cross-border data flows
16 September 2022
India, 13 (thirteen) other Asian countries and the United States are part of an Indo-Pacific Economic Framework (IPEF) which share a commitment to free, open, fair and a prosperous Indo-Pacific that has the potential to achieve sustained and inclusive economic growth.
Competition and Antitrust
“To Deal or Not to Deal is the real question” - Vertical Restraints in the FMCG Sector
31 August 2022
One of the objectives of the Competition Act, 2002 (“Act”) is to ensure that all market participants enjoy freedom of trade, allowing them to freely decide their choice of business, their modus operandi, and take other commercial decisions.
International Trade & WTO
Reference-price based anti-dumping duty: The Indian perspective
29 August 2022
Anti-dumping investigations are conducted to determine the existence of dumping which causes injury to the domestic industry in the investigating country. In simple language, dumping is the act of exporting the product at a price lower than the price at which the said product is sold in the domestic market of the exporting country, thus causing injury to domestic producers in the importing country.
Goods and Services Tax
New Rule 88B providing for manner of calculating interest – Susceptible to challenge?
25 August 2022
Due to periodical amendments, the provisions relating to levy of interest under GST has been the subject matter of varied interpretations. The issue concerning payment of interest on the gross/net tax liability in case of delayed payment of taxes was the subject matter for our article published in Tax Amicus (May 2022/Issue 131).
Regulatory
Advent of a new-era Digital India Act – Key aspects to look out
23 August 2022
The Government is in the process of drafting a ‘Digital India Act’ which is slated to replace the Information Technology Act, 2000 and propose a comprehensive framework for IT, regulation of social media platforms, streaming platforms, govern use and deployment of new technologies and introduce certain other provisions. The article highlights the focal points of this regulation and provides some thoughts on each of those aspects.