News
Amnesty Scheme in Service Tax is operational
15 May 2013
An amnesty scheme ‘Voluntary Compliance Encouragement Scheme’ has become operational from 10th May, 2013 consequent to issuance of related rules. The Central Board of Excise & Customs has issued Notification No. 10/2013-S.T., dated 13-5-2013 framing the Service Tax Voluntary Compliance Encouragement Rules, 2013.
Parallel behavior of non-participation in bid is anti-competitive
10 May 2013
The Competition Appellate Tribunal in a recent order has held that behaviour of the explosive manufacturers in boycotting the bid for supply to Coal India as anti-competitive but the deterrent punishment should not be so much as to affect their ability to deliver the goods in an efficient manner.
ITAT explains international transaction
09 May 2013
In a recent order, the Income Tax Appellate Tribunal (ITAT), Mumbai had the occasion to go into the question of what is or is not an international transaction. The parent company of the appellant had sold its imaging business, globally.
Mere viewing of content on computer screen cannot be infringement
09 May 2013
Infringement due to creation of transient or temporary copies being made in course of transmission though legal by itself has been debated time and again.
Revised FDI Policy released
20 April 2013
Consolidated and revised Foreign Direct Investment (FDI) Policy has been issued by the Department of Industrial Policy and Promotion in the Ministry of Commerce & Industry.
Takeover Regulations amended
20 April 2013
SEBI has amended SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. The major changes are in relation to timing of making a public announcement in case of successive and connected acquisitions of shares or voting rights in the target company.
TRAI caps duration of TV advertisements
20 April 2013
The Telecom Regulatory Authority of India (TRAI) has amended the Standards of Quality of Service (Duration of Advertisements in Television Channels) Regulations, 2012 to impose a cap of twelve minutes per hour on commercial advertisements.
Write-off of unrealized export bills - RBI issues new guidelines
19 March 2013
Exporters, including status holders, have been allowed to self write-off unrealised export bills, subject to limits in terms of specified percentage of the proceeds realized during previous calendar year. As per Reserve Bank of India A.P.
Banking mergers to face scrutiny of two regulators
20 December 2012
Bank M&As may have to obtain clearance both from the Competition Commission of India (CCI) and Reserve Bank of India (RBI) according to recent reports.
Govt. to press CTRL button on foreign investment
20 December 2012
The Finance Ministry had recently suggested the Department of Industrial Policy and Promotion (DIPP), the nodal agency for foreign direct investment in India to amend the definition of ‘control’.