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Our attorneys and specialists remain up-to-date with the latest legal developments and offer their perspectives and critical commentary.

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Goods and Services Tax

Shifting the burden of indirect taxes: A contract conundrum

27 七月 2021

Taxes are commonly categorized as ‘direct taxes’ and ‘indirect taxes’ due to the economic theory that indirect taxes are ultimately borne by the consumer despite being charged on the supplier. Simply put, the burden of an indirect tax can be shifted onto another and from this facet, the nomenclature ‘indirect tax’ is derived.

Competition and Antitrust

Draft E-commerce Rules: Blurring the lines between Consumer Protection and Competition Law

27 七月 2021

The Ministry of Consumer Affairs published the draft amendments to the Consumer Protection (E-commerce) Rules, 2020 on 21 June 2021 (‘Draft Rules’). The Draft Rules seek to introduce several new concepts, restrict certain business practices of e-commerce entities and impose numerous obligations on e-commerce entities operating in India.

Intellectual Property

Rule of anti-dissection v. Rule of dominant feature – A legal conundrum

24 七月 2021

The likelihood of confusion or deception amongst the consuming public is a sine qua non element in an action for infringement or passing off. There are various parameters that are taken into consideration while assessing the degree of likelihood of confusion between two trademarks, such as the goods and services under the disputing marks, the class of consumer, and the trade channels involved, inter alia.

Direct Tax

Capital Gains arising out of Joint Development Agreements – Analysis of Section 45(5A) of Income-tax Act

22 七月 2021

The transfer of immovable property by land owners under mechanism of Joint development, Agreement (‘JDA’) has evolved as a preferred mode of transacting, especially in urban areas where the land owners do not have the time or expertise to develop the land and market the property on their own. They, therefore, enter into an arrangement for mutual benefit with a developer for developing and marketing the land parcels to various buyers.

Arbitration, Commercial litigation, Insolvency

Contractual claims, Arbitration and the Insolvency Code – The interplay and fault lines

21 七月 2021

The Insolvency & Bankruptcy Code, 2017 (‘Code’) was, inter alia, enacted for the resolution or liquidation of companies defaulting on their debts. These debts may include claims subject to an arbitration or sums determined in the form of an award. In the present article, we identify some potential scenarios where parties to an arbitration agreement must be conscious of the interplay between arbitration and the Code.

Corporate

Proposed E-commerce Amendment Rules – Whether reasonable to comply with?

14 七月 2021

The Government of India through its Ministry of Consumer Affairs, Food and Public Distribution, in exercise of its powers conferred under the Consumer Protection Act, 2019 had notified the Consumer Protection (E-Commerce) Rules, 2020 (‘E-commerce Rules’). The Government has now, on 21 June 2021, proposed certain amendments in the E-commerce Rules and is receiving comments or suggestions from the stakeholders.

International Trade & WTO

Revision in requirements for applications by the domestic industry - A balancing act by DGTR

01 七月 2021

The provisions relating to conduct of anti-dumping and anti-subsidy investigations in India are contained in the Customs Tariff Act, 1975, and the Customs Tariff (Identification, Assessment and Collection of Anti-Dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 (‘AD Rules’) and the Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidized Articles and for Determination of Injury) Rules, 1995 (‘CVD Rules’) made therein under.

Goods and Services Tax

Bill of Supply whether a tax invoice for issuance of GST debit/credit note?

28 六月 2021

GST as a law has been very dynamic with amendments happening day in and day out as the legislature and the subjects learn from implementing the law to the practical aspects of the business. One of the recent amendments to the law is the amendment to sub-section (4) to Section 16 of the Central Goods & Services Tax Act, 2017 (‘CGST Act’) which was made effective from 1 January 2021.

Intellectual Property

Coverage v. Disclosure – IPAB decides on what amounts to coverage and disclosure

21 六月 2021

The Intellectual Property Appellate Board (‘IPAB’) in an order dated 29 September 2020 allowed the appeal filed by Novartis AG (‘Appellant’) challenging the revocation of Indian Patent No. 276026 (IN’026) by the Deputy Controller of Patents & Designs, New Delhi (‘Respondent No. 2’) following post-grant opposition proceedings initiated by Natco Pharma Limited (‘Respondent No. 3’), and set aside the revocation order (‘impugned order’) as being ‘devoid of merit’.

Direct Tax

Cess: An allowable expenditure under the Income-tax Act?

16 六月 2021

It is a settled principle statutorily that the income tax paid by a taxpayer on its income is not allowed as a deductible expenditure under the provisions of the Income-Tax Act, 1961 (‘Act’). The term ‘income-tax’ has not been defined under the provisions of the Act, however, the term ‘tax’ has been defined to mean income-tax chargeable under the provisions of the Act. Section 4 of the Act creates a charge of tax on the total income of the previous year of a person.

Corporate

Introduction of the ‘On-going Projects’ regime under CSR – A Welcome Move

15 六月 2021

Though the primary objective of Corporate Social Responsibility (‘CSR’) was not slated to be to bridge resource gap for the Government, the second wave of the pandemic Covid-19 has once again brought back into light the participation of Corporate India in supplementing the efforts of the Government.

Corporate

Limitation for filing of appeals under Section 37 of Arbitration and Conciliation Act

15 六月 2021

Section 37 of the Arbitration and Conciliation Act, 1996 (‘Act’) provides for an appeal against orders passed under Sections 9, 34, 16 and 17 of the Act. The Act does not provide any specific limitation for filing such appeals, however, Section 43 of the Act provides that the Limitation Act, 1963 (‘Limitation Act’) shall apply to arbitrations as it applies to proceedings in Court.

International Trade & WTO

De-minimis dumping margin: Termination of an anti-dumping investigation?

01 六月 2021

On 7 May 2021, the Directorate General of Trade Remedies (‘DGTR’) concluded the anti-dumping investigation concerning imports of ‘Plain Medium Density Fibre Board having thickness 6mm and above’ (‘subject goods’) produced by Kim Tin MDF Joint Stock Company, Vietnam (‘Kim Tin’) by terminating the investigation. Though the termination of this investigation is not unusual, the reasons for the termination of the investigation are interesting.

Goods and Services Tax

Improved system of e-way bill and its implications on the business

25 五月 2021

Implementation of e-way bill system under the Goods and Services Tax regime has been an excruciating exercise for the Government as well as the taxpayers. While Government was initially grappling for timely enforcement of e-way bill system due to inherent constraints in the portal, the taxpayers were finding it difficult to cope up with the frequent amendments in the e-way bill related rules.

Competition and Antitrust

Blockchain technology on the CCI’s radar

25 五月 2021

Businesses constantly seek to innovate to obtain an edge over their competition and sometimes this leads to particularly noteworthy innovations that become disruptive forces within the market segment. This allows the innovator to determine their own price for their products and operate independent of the market forces of supply and demand

Direct Tax

Managing the impact of Covid-19 – Navigating cross-border tax questions in India

21 五月 2021

The Covid-19 pandemic has exposed catastrophic outcomes. The limited experience of handling such a crisis in India has already revealed its overbearing effect on business and industry, while the tax landscape has also faced significant transformation. In an interconnected world, some of the issues that have arisen in the context of cross-border taxation have created concern, with the potential of leading to far-reaching implications. Some of these issues are considered in detail in this article.

Direct Tax

Redesigned taxation upon exit from Partnership Firm – New jeopardy for taxpayers?

18 五月 2021

Taxation upon exit of a partner from a partnership firm has been a contentious issue since long. Till Financial Year 1987-88, distribution of capital assets on dissolution of partnership firm was specifically excluded from capital gain taxation . Resultantly, as a tax planning exercise, taxpayers used to convert partnership assets into individual assets either upon retirement or dissolution, contending that no capital gains tax was payable in relation to the same

Corporate

Extension of limitation by Apex Court due to second wave of Covid-19

17 五月 2021

The sudden onset of the pandemic Covid-19 in March 2020 had pushed litigants across the country into hardships with respect to the filing of petitions/ suits/ appeals/ applications etcetera and initiating and continuing legal proceedings before the various Courts and Tribunals.

Corporate

Contract labour – New dynamics under new Labour Code

17 五月 2021

In the recent past, the engagement of contract labour has witnessed a spike across various sectors, both in the manufacturing as well as service sectors. Presently, the framework of the contract labour is regulated by Contract Labour (Regulation and Abolition) Act, 1970 (‘CLRA Act’). This may continue for one more year, as implementation of new Labour Codes may get delayed due to the massive second wave of Covid-19 across the country.

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