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Doing business in India through Liaison Office

By Ashish Karundia The way Indian economy withstood global economic slowdown has made India a very alluring destination for foreign investments. For testing Indian waters, many Multinational Companies (‘MNCs’ or 'HO' or 'Non-resident') prefer opening a Liaison Office (‘LO’) in India. LO can be set up in India only after obtaining permission from Indian central bank i.e., Reserve Bank of India...

The ‘COOL’ Dispute – Analysis and implications

By Sarah Mary Mathew The ongoing dispute against the United States on Certain Country of Origin Labelling Requirements (COOL) was initiated in December 2008 when Canada and Mexico requested consultations with the US [see end note 1]. The dispute is presently at the implementation stage with the report of the compliance panel having been issued on 20th October, 2014 [see end note 2]. This arti...

Refund of anti-dumping duty as a result of review investigation

By Bhargav Mansatta Section 9AA [see end note 1] of the Customs Tariff Act, 1975 provides for refund of anti-dumping duty in certain cases. It provides as below: (1) Where upon determination by an officer authorised in this behalf by the Central Government under clause (ii) of sub-section (2), an importer proves to the satisfaction of the Central Government that he has paid anti-dumping dut...

Transfer Pricing and location savings - An Indian perspective

By S. Sriram Relocation of business from one country to another, where the labor and other costs are comparatively cheaper, results in cost saving to the Multi National Enterprise (‘MNE’) groups.  The net cost so saved is Location Savings (‘LS’) as explained by the Organization for Economic Co-operation and Development (‘OECD’) [see end note 1].The United Nations further expands the scope of ...

Tax issues surrounding human capital movement

By Ashish Karundia Globalisation has led Multinational Companies (MNCs) to increase cross border secondment of technical, managerial and other employees to their subsidiaries located in low cost jurisdictions such as India. The rationale behind seconding such employees is sometimes to help the subsidiaries avail the benefit of skill and expertise of the seconded employees in respective fields...

Valuation of asset - A tax riddle faced by real estate firms

By Rajat Juneja & Sumeet Khurana Backdrop When a partnership firm is formed for carrying on real estate business and a partner contributes land or building therein then the tax consequence of contribution of such land or building becomes a tricky issue. The computation of the capital gain on this transaction is a challenge because of two Sections that are apparently applicable but conflicti...

Incentive by State Government is disincentive to excise assessees

By Nirav Karia The Supreme Court in Super Synotex [see end note1] case had considered the Sales Tax Incentive Scheme extended by State of Rajasthan.  Under that scheme, it appears that the assessee was entitled to retain with him 75% of the sales tax collected from his buyers and pay only 25% to the State Government.  The State of Rajasthan instead of giving certain amount towards industrial ...

Emerging jurisprudence in export restraint measures in trade

By Lakshmi Neelakantan Export restraints generally refer to measures imposed by an exporting country on the export of certain goods which may take the form of export quotas, duties, and licensing or minimum price requirements. As compared to the frequently discussed topics of import controls under WTO law, like customs duties, import quotas, anti-dumping, subsidies and safeguard measures, exp...

TDS default on payments made to non-residents – Disallowance @ 30%?

By Rajat Juneja & Sumeet Khurana Background Tax reforms can play a decisive role in supporting growth, by removing distortions, enhancing transparency and ensuring certain level of stability in the area of international taxation. Indian economy has grown at an impressive pace over the past couple of decades as a result of wide-ranging structural reforms however lack of a stable tax regime h...

Compulsory pre-deposit & complete withdrawal of discretion to grant stay

By Iype Mathew One of the important changes made as part of the amendments brought by Finance (No. 2) Act, 2014 is the amendment to the provisions relating to pre-deposit and grant of stay in Customs, Excise and Service Tax laws.  Earlier, though pre-deposit of the full disputed amount was prescribed yet the appellate authority was vested with the discretion to waive pre-deposit and to grant ...

Procedural conundrum of Indian safeguard law

By T.D. Satish Even though the mechanism set up by India in applying the provisions of Article XIX of GATT and Agreement on Safeguards (AOS) in India through its domestic safeguard provisions [see end note 1] satisfy the basic requirements required for its implementation, however, when compared to other countries, there remain a lot of procedural loop-holes still to be filled in to make the s...

US provisions violate WTO’s SCM agreement – DSB Panel

The Panel composed by Dispute Settlement Body of the World Trade Organization (Panel) in United States – Countervailing Measures on certain Hot-rolled carbon steel flat products from India released its report on 14-7-2014. The dispute was filed by India in 2012 and it relates to WTO compatibility of the United States' law pertaining to countervailing duty investigation as well as CVD measures i...

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