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28 March 2016
Interpreting the term ‘profits derived from business’ the Supreme Court on 9-3-2016 held that as long as profits and gains emanate directly from the business itself, the fact that the immediate source of the subsidies is the Government would make no difference. The revenue department argued that deduction under Section 80–IB (for i...
22nd May, 2015
Service Tax levied in India on all services, except a few as listed in the negative list of services, will be applicable at the rate of 14%, instead of 12%, with effect from 1st of June, 2015. However, both the Education Cesses, i.e. Education Cess and Secondary & Higher Education Cess, have been abolished, from such date in respect of all the services.
11th December, 2014
India achieved a significant victory at the WTO on December 8, 2014, as the Appellate Body has held that the Countervailing Duty (CVD) measures imposed by the United States against certain Hot Rolled Carbon Steel Flat Products are inconsistent with the provisions of the Agreement on Subsidies and Countervailing Measures (ASCM) of the WTO.
The Appellate Body has emphatic...
4 June, 2014
The WTO released its Annual Report on 28-5-2014. Not surprisingly, the ‘Bali Package’ has been highlighted as an important milestone in negotiations. The WTO is now 159 member strong – notable new entrants being, Russia, Laos and Tajikistan. Yemen is also joining the WTO to take the tally to 160.
On dispute settlement, the report states that although the number fell as compared...
12 November, 2015
In yet another interesting tussle between retailers who chose not to opt for a particular e-commerce portal and the inevitable, may be, unintended results of the internet search yielding trademarked goods in the results page, the United States Court For Appeals for the Ninth Circuit (CAFC) put forth its views on initial interest confusion, possi...
By Ekansh Agrawal
The Final GST Act is here, still many issues lack clarity and could result in disputes with the tax authority, owing to different interpretations and views between businesses and the department. This article seeks to highlight some of the significant issues pertaining to registration by a GTA, as set out in the CGST Act and Draf...
Affiliates of Multi National Enterprises (‘MNEs’), in the recent past, are moving more towards functioning independently from their parent, operational and financial. The freedom given in managing their own affairs in growing economies like India, has helped the affiliates to grow faster in the local markets. However, ...
By Tushar Aggarwal
With the passage of time, different technologies and standards evolve. Similarly, law cannot stand still; it must change with the changing social concepts and values [see end note 1]. Tax laws though necessarily enacted in its own time, are nevertheless to be construed as taking note of the advances in technology.
Entertainment tax in India is being levied for more than a...
1st February, 2012
Twenty two European nations signed the Anti-Counterfeiting Trade Agreement (ACTA) on 26th January, 2012. The agreement is required to be ratified by the European Parliament before it can become law. The European Parliament is expected to debate it in June this year.
Last year, in December, Council of European Union had adopted the decision authorising the signing of AC...
9th January, 2012
Spain has enacted the ‘Sinde law’ to tackle online infringement. Originally part of the Sustainable Economy Bill, the provisions to tackle illegal file sharing/downloading were not passed in 2010.
The proposals to act against service providers who act with ‘direct or indirect lucrative intent’ or in any case cause or are capable of causing harm were seen as too broad. Als...
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