News & Briefings

The latest updates on relevant areas of law, curated by our team to be the most useful to clients as well as fellow legal practitioners.


39th Meeting of the GST Council – Highlights

18 March 2020

The GST Council has in its 39th Meeting held on 14-3-2020 taken many major decisions in respect of both GST rates and those involving law and procedures. Some of the important recommendations of the Council are highlighted below.

Sponsorship and endorsement expenses borne by importer when not includible in value of imports

13 March 2020

CESTAT New Delhi has recently held that the sponsorship and endorsement expenses paid by the Indian importer to various athletes and players in India is not liable to be included in the assessable value of the goods (sports goods) imported by the importer. The Revenue department’s appeal which invoked Rule 10(1)(e) of the Customs Valuation (Determination of Value of Imported Goods) Rules 2007 for inclusion of said expenses was hence dismissed. Earlier, the Commissioner had found that the paymen

Trademarks – Amendment to plaint for passing off after registration of mark

11 March 2020

Observing that the basic facts necessary for an infringement action were already present in the original plaint filed for passing off, excepting the fact of registration of the trade mark of the petitioner, the Calcutta High Court has allowed the application for amendment to plaint post grant of registration of trademark.

Settlement of Direct Tax pending litigations – CBDT clarifies on Vivad se Vishwas scheme

07 March 2020

With the objective to reduce the pending income tax litigation, the lower House of the Indian Parliament has on 4th of March 2020 passed the Direct Tax Vivad se Vishwas Bill, 2020. The Bill, once enacted, will also generate timely revenue for the Government and benefit the taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process.

Virtual currencies – RBI Circular restricting functioning of VC exchanges set aside

06 March 2020

The Larger Bench of the Supreme Court of India has set aside the Circular dated 6-4-2016 issued by the Reserve Bank of India, directing the entities regulated by RBI to not to deal with or provide services to any individual or business entities dealing with or settling virtual currencies and to exit the relationship, if they already have one, with such individuals/ business entities dealing with or settling virtual currencies.

Patents – Cobicistat is not derivative of Ritonavir – Differences in structure when not mere structural modification

02 March 2020

Rejecting the pre-grant opposition filed by a patient group, a community-based non-profit organisation, the Assistant Controller of Patents at New Delhi has granted an Indian patent to Cobicistat, marketed under trade name Tybost, a licensed drug for use in the treatment of HIV and AIDS. The opponents had pleaded lack of inventive step, no enhanced therapeutic efficacy, and being a mere admixture resulting only in the aggregation of the properties of the components.

No requirement under IBC for Resolution Plan to match liquidation value of Corporate Debtor

13 February 2020

No provision in the Code or insolvency regulations dictates that the bid of any Resolution Applicant has to match liquidation value of the estate of the Corporate Debtor. If the resolution plan has been approved by the Committee of Creditors by application of their commercial sense, as well as the plan has been considered as proper in terms of Section 30 of the Code, the Adjudicating Authority cannot interfere or re-assess the same under Section 31 of the said Code.

Statutory Arbitral Tribunals have power to grant interim injunction u/s. 17 of Arbitration and Conciliation Act

13 February 2020

Part I of the Arbitration and Conciliation Act, 1996 shall apply to all arbitrations, even carried out under another enactment, as long as the same is not inconsistent with such enactment or rules made there under.

Budget 2020 – Important changes in anti-dumping, countervailing and safeguard provisions

06 February 2020

India is set to revise provisions relating to its trade remedy measures. While provisions relating to Safeguard duty have been proposed to be amended by the Finance Bill, 2020 as presented in the lower House of the Indian Parliament on 1-2-2020, Rules relating to Anti-dumping duty and Countervailing duty have been revised by notifications issued by the Ministry of Finance.

Budget 2020 – Changes in Customs law including rate of duty

05 February 2020

India’s Finance Minister presented the Union Budget for the year 2020-21 in the Lok Sabha (lower house of the Indian Parliament) on 1st of February, 2020. While a new levy (Health Cess) has been imposed and Customs duty has been increased on import of many products, the Finance Bill, 2020 also proposes many changes in the Customs law and procedures, including administration of Rules of Origin under Trade Agreements.

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