News
International Financial Services Centre – RBI, SEBI & IRDA issue guidelines
22 April 2015
In a major move to bring more meaning to SEZs in India, the Reserve Bank of India has notified Foreign Exchange Management (International Financial Services Centre) Regulations 2015, according to which a financial institution or a branch thereof set up in the International Financial Services Centre (IFSC) and permitted or recognised as such by the government or a regulatory authority shall be treated as person resident outside India.
New service tax rate not yet in force – CBEC clarifies
16 April 2015
CBEC has clarified by Circular No. 183/02/2015-S.T., dated 10-4-2015 that the new rate of service tax i.e. 14% shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015.
Transfer of right to use trademark – Liability under Maharashtra Sales Tax
16 April 2015
Bombay High Court has held that the amount received by the assessee on transfer of right to use the trademark would be liable to be taxed under “Maharashtra Sales Tax on the Transfer of the Right to use any Goods for any Purposes Act, 1985”.
India announces new Foreign Trade Policy
02 April 2015
With the aim of doubling India’s export of merchandise and services by the year 2020, the Indian Commerce and Industry Ministry has today (1-4-2015) announced the new Foreign Trade Policy 2015-2020 (FTP).
Anti-dumping – DA to supply relied upon information & follow timelines
27 March 2015
Delhi High Court has quashed the final findings of the Designated Authority (DA) recommending imposition of definitive anti-dumping duty on USB Pen drives imported from China, Taiwan and Korea RP.
Achieving a fanciful distinction
23 March 2015
23 March,2015 Every seller, perhaps, fancies being distinctive and successful and the applicant in re Frankish Enterprises Ltd (decided in 27-2-2015) certainly got the combination right. The TTAB reversed the refusal to register a mark consisting of a truck cab body in the design of a fanciful,
IPAB Members – Madras High Court rules on constitutionality of qualification criteria
23 March 2015
In January, 2011 the Madras High Court admitted a PIL (Shamnad Basheer v. Union of India - W.P. 1256 of 2011) challenging.
Digital reproduction can be subject to private copying levy irrespective of actual use
23 March 2015
Answering a reference from the Danish court the CJEU held that Information Society directive does not preclude national legislation, which provides that fair compensation to be paid to right holders, from levying the same in respect of multifunctional media such as mobile telephone memory cards, irrespective of whether the main function of such media is to make such copies and it is sufficient that the device enables the operator to make copies.
Copyright and the human right to protection of authorship
23 March 2015
The UN Special Rapporteur in the field of cultural rights has submitted a report on ‘Copyright policy and the right to science and culture’.
CCI order on abuse of dominance quashed
19 March 2015
The Competition Appellate Tribunal (COMPAT) has set aside the order of the Competition Commission of India which had found abuse of dominance reasoning that information downloaded from the net and similar other material as relied upon by the Commission do not have any evidentiary value.