The audit and review service provided by L&S serves two purposes. It helps to ascertain compliance with the law. The second objective is to assess whether all the available incentives and benefits under the applicable law are being taken advantage of. The audit and review teams are specialized teams with each focusing on a specific area of law. The practitioners in the firm have several years o...
9th August, 2013
The Central Board of Excise & Customs (CBEC) has, by Circular No. 170/5/2013-ST, dated 8-8-2013, clarified certain issues relating to the amnesty scheme introduced through this year’s budget – Voluntary Compliance Encouragement Scheme or VCES. The bar on applicability of this scheme to those against whom summons have been issued or investigation is pending has been clarified ...
15th 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.
No penalty or prosecution
The scheme, part of Budget 2013 p...
By Dr.Amitavo Mitra
In IPR Amicus Issue No. 49, dated August 2015, the interplay between the Biological Diversity Act, 2002 (BDA), and intellectual property rights in India, specifically, the Patents Act, 1970 (Act) was broadly explored, with particular reference to biological inventions.
In this article, we further attempt to explore and ...
By Radhika Sharma
The WTO Dispute Settlement Understanding (DSU) is a central element in providing security and predictability to the multilateral trading system created under the WTO. Keeping in mind the value that the DSU adds to the WTO mechanism, it was realized that constant reforms need to be carried out in the text of the DSU keeping in mind the i...
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Lakshmikumaran & Sridharan, Attorneys (L&S) is organizing a seminar on Environmental Compliance Management: Challenges and Opportunities in New Delhi on 23 February, 2016. This seminar is being organised to help enterprises align their business processes to the evolving environmental scenario in India.
Experts from L&S will discuss the regulatory framework of environm...
ASSOCHAM will be organising its 3rd International Conference on Competition Law in New Delhi on 2 May, 2015.
This conference will throw light on various issues like cross-border challenges for competition authorities, anti-competitive conduct and mergers.
Other key discussion areas covered during the conference are:
In-house compliance mechanism
Economic analysis of major role played ...
The 6th Annual Corporate Legal Counsel Conference will be held in Dubai from 9th to 10th September, 2013. Ms. Vijaya Sampath, Senior Partner & Country Head, Corporate Practice, Lakshmikumaran & Sridharan is the chairperson for this conference.
Discussions will be held on various topics like - 'Assembling the correct mix of internal and external counsels for optimal protection coverage', 'Red...
Tax compliance is a complex phenomenon that is governed by a variety of factors. Some of these factors are, tax rates, complexity of laws, procedures, forms and returns, the efficiency of tax administration including tax audits and the legal consequences of non-compliance. The reforms in indirect taxes in the last two decades could be said to have reduced the cost of compliance to the trade and...
Article in this issue of "Tax Amicus" discusses how conditions for availing exemption, whether substantial or only procedural/technical, are important for availing the benefit and merely because a procedure is directory, its compliance is not to be dispensed with. DGFT has allowed terminal excise duty refund even to the recipient of deemed export goods while Bombay High Court has held that stat...
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