22 May, 2015
Five Judge Bench of the Supreme Court of India has rejected the challenge to the constitutional validity of setting up of the National Company Law Appellate Tribunal (NCLAT). The Court in this regard rejected the contention of the petitioner that the earlier 2010 judgment of the Court dealing with the issue of constitutional validity of the National ...
20 January, 2015
Ministry of Commerce and Industry has allowed dual use of non-processing area in the Special Economic Zones with effect from 2-1-2015. According to the newly inserted Rule 11A in the Special Economic Zones Rules, 2006, the non-processing area can be divided into two parts, wherein social or commercial infrastructure and facilities in one part can be used both by SEZ entities ...
By Puneeth Ganapathy
In its recent judgment in Chief Controlling Revenue Authority v. Reliance Industries Ltd., Bombay High Court has taken the view that stamp duty is payable on a High Court (‘HC’) order sanctioning a scheme of merger/reconstruction (‘scheme’), as an instrument of ‘conveyance’. The bench of three judges of the...
By Divya Jain
The Companies Act, 2013 (CA 2013) has introduced path-breaking changes in governance mechanisms, compliances and disclosures, appointment and scope of auditors, responsibilities of independent directors, investor protection and mergers and acquisitions. Introduction of new concepts like ‘corporate social responsibility’ for the first time anywhere in the world is in line wi...
By Kritika Krishnamurthy
Adam Smith in the ‘Wealth of Nations’ (1776) declared “Individuals always weigh their own interest more than the group”. He made this statement at a time when tradesmen in Europe were organizing themselves into groups to enhance their scale of business and leverage potential markets available for their goods in exotic, far away colon...
By Anup Koushik Karavadi
The task of enacting a new law to regulate companies in India is complete. The Companies Act, 2013, (“New Act”) in its new avatar, mirrors several changes when compared to the law contemplated under the Companies Act, 1956 (“Old Act”). It brings in a whole new set of expected and unexpected changes to the existing regime governing Indian company law. Unde...
By Amutha Balasubramanian
The new Goods and Services Tax (GST) is a comprehensive indirect tax on manufacture, sale and consumption of goods and services across India. GST is a destination-based, value added taxation system. GST will be a dual levy in India and the eligible transactions will be subject to levy of both CGST and SGST in the case of...
By Geetika Srivastava
The date of implementation of Goods & Services Tax (GST) is now certain and from 1st April, 2017, India will enter the new indirect tax regime bringing great deal of uniformity and robustness which will impact every business and industry. This leaves the industry with just a few months to prepare for the trans...
By Bharathi Krishnaprasad
Comparison between Stock Appreciation Rights and Employee Stock Option Plans
Conceptually different from the Employee Stock Option Plan a.k.a ESOP, a household term in India, Stock Appreciation Rights, also known as SARs are a novel way of rewarding the employees of an or...
By Dr. G. Gokul Kishore
India is on the expressway in implementing the biggest reform ever in its indirect tax system. Till July, possibility of implementation of Goods & Services Tax (GST) was perceived as riddled with uncertainty but the Indian political parties have come together and ensured that the Indian Constitution stands amended to p...
By Sumeet Khurana
A person resident of India under the Income-tax Act, 1961 (‘the IT Act’) is liable to tax in India on his global income [see end note 1]. The resident, when transacting with its Associated Enterprise (AE) is obliged to offer to tax, the income arising
Dated: Sep 27, 2016
By Iype Mathew
India is now poised to introduce its biggest indirect taxes reform by launching the Goods and Services Tax regime. GST when introduced will usher in a nationwide common market which is expected to be less intrusive, compliance friendly, and self-policing in nature. The passage o...
© Copyright 1985-2016 Lakshmikumaran & Sridharan, All Rights Reserved.