05 February 2020
Budget 2020 – Important changes proposed by the Finance Bill 2020 in GST regime: Budget 2020 was presented by the Finance Minister in the lower House of the Indian Parliament on 1st of February 2020. The Finance Bill, 2020 in this regard proposes many changes in the Central Goods and Services Tax Act, 2017, Integrated Goods and Services Tax Act, 2017, Union Territory Goods and Services Tax Act, 2017 and the Goods and Services Tax (Compensation to States) Act, 2017. Some of the important changes
28 January 2020
The Gujarat High Court has set aside the levy of separate Integrated GST on ocean freight in case of import of goods on CIF basis. It held that Sl. No. 9(ii) in Notification No. 8/2017-Integrated Tax (Rate) and Sl. No. 10 in Notification No. 10/2017-Integrated Tax (Rate), levying tax on supply of service of transportation of goods by a person in a non-taxable territory to a person in a non-taxable territory from a place outside India up to the customs station of clearance in India and making th
CCI directs investigation against two major e-commerce platforms for alleged vertical agreements in sale of smartphones
15 January 2020
Looking into the alleged violation of Competition Act based on four alleged practices, namely, exclusive launch of mobile phones, preferred sellers on the marketplaces, deep discounting and preferential listing/promotion of private labels, being followed by two major e-commerce platforms...
Social Welfare Surcharge payable in cash on imports under MEIS/SEIS – No recoveries for past cases where SWS paid through scrips
14 January 2020
Central Board of Indirect Taxes and Customs (CBIC) has clarified that in case of imports under Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS), Social Welfare Surcharge (SWS) is not exempted and must be levied and collected on the imported goods.
Electronic payments – Mandatory provision for accepting payments through prescribed electronic modes
08 January 2020
In furtherance to the declared policy objective of the Government to encourage digital economy and move towards a less-cash economy, CBDT has prescribed Debit Card powered by RuPay; Unified Payments Interface (UPI); and Unified Payments Interface Quick Response Code as the prescribed electronic modes for accepting payments under newly inserted Section 269SU of the Income Tax Act, 1961. Notification No. 105/2019, dated 26-12-2019 inserts Rule 119AA in the Income Tax Rules,
03 January 2020
Central Board of Indirect Taxes and Customs (CBIC) has recently issued many notifications to revise certain provisions of the GST law. The changes relate to amendments in the Central Goods and Services Tax Rules, 2017; changes in the rate and exemption notifications for goods and services; changes in notification relating to reverse charge mechanism for certain services;
Patents – Post-grant opposition – New evidence cannot be filed once Controller fixes date of hearing
01 January 2020
Observing that the provisions of the Patents Rules, 2003 place enormous sanctity on the two-stage decision making process in a post-grant opposition, the Delhi High Court has held that while additional evidence is permissible under Rule 60 of the Patents Rules, after review of Opposition Board, the same cannot be filed once the date of hearing has been fixed by the Controller.
Protection to Corporate Debtors for offences prior to commencement of CIRP – IBC (Amendment) Ordinance, 2019 promulgated
31 December 2019
In order to protect the Corporate Debtor and its assets from liabilities for offences committed prior to the commencement of Corporate Insolvency Resolution Process (CIRP), the President of India has on 28th of December 2019 promulgated an Ordinance – Insolvency and Bankruptcy (Amendment) Ordinance, 2019.
Trade restrictions at historically high levels even as many new measures for facilitating trade implemented: WTO report
26 December 2019
WTO Director General on 12th of December presented a report on “Overview of developments in the international trading environment”, with the WTO Members.
13 December 2019
Acknowledging that the right to privacy is a fundamental right and it is necessary to protect personal data as an essential facet of informational privacy, the Ministry of Electronics and Information Technology in India has introduced the Personal Data Protection Bill, 2019 in the Lok Sabha (lower house of the Indian Parliament) on 11th of December, 2019.