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


Refund of accumulated input tax credit – Certain unresolved issues

30 十一月 2017

The landmark tax reform of Goods and Services Tax (GST) as introduced from 1st July, 2017, is nearing completion of 5 months. The GST Council has conducted 23 meetings with continuous effort of making GST robust. 

Intellectual Property Rights

Section 59 of the Patents Act, 1970 – Scope of amendments

30 十一月 2017

Amendments of patent applications may involve amending any portion of either the complete specification, or any information pertaining to such patent application. Such amendments may be made at any time during a life cycle of a patent application.

Direct Tax

Section 40(a)(ii) and taxes paid abroad - A discussion

29 十一月 2017

As per section 5 of the Income Tax Act 1961 (the Act) practically all of a resident assessee’s world income enters his total income.

International Trade & WTO

The upcoming WTO Ministerial Conference: What to expect for India

27 十一月 2017

Every two years the 164 Members of the Word Trade Organization (“WTO”) gather in a Ministerial Conference to give political direction to the world trade body and negotiate new instruments to better regulate international trade.

Banking & Finance, Regulatory Laws

Key changes in 2017 FDI Policy for single brand retail trading sector

02 十一月 2017

Foreign Direct Investment (“FDI”) upto 100 percent is allowed in single brand retail trade (“SBRT”) sector. FDI upto 49 percent is allowed under the automatic route and FDI in excess of 49 percent requires prior government approval. In addition,

Corporate Advisory

Restriction on number of layers on companies

02 十一月 2017

The Ministry of Corporate Affairs (MCA) vide Notification S.O. 3086(E), dated September 20, 2017 notified proviso to Section 2(87) of Companies Act, 2013 (Act). The notified clause provides for the definition of ‘Subsidiary company’ and specifies that such classes of holding companies,

Ocean Freight under GST – A Sea Change

30 十月 2017

In the landmark decision of Govind Saran Ganga Saran v. Commissioner of Sales Tax [1985 AIR1041].

Supply by an SEZ Unit - Controversy in levy and collection

30 十月 2017

The Goods and Services Tax regime has replaced the diverse indirect tax structure existing in the country prior to 1st July 2017, filling the various gaps and failings of the erstwhile system.

Intellectual Property Rights

Kymriah®, a revolutionary drug to induce treatment remission in recalcitrant cancers

27 十月 2017

In an unprecedented historic action, the US Food and Drug Administration (FDA) and Oncologic Drugs Advisory Committee (ODAC) unanimously approved CTL019 (tisagenlecleucel) or Kymriah®, an investigational chimeric antigen receptor T cell (CAR-T) therapy.

Direct Tax

‘Interest’ draws interest in tax treaty interpretation

17 十月 2017

All corporate houses, big and small around the globe constantly seek in  financial innovation in raising capital and in allocating rights over sharing of profits.

International Trade & WTO

Connotation of term “Country of Export” in Anti-Dumping Duty Notification

09 十月 2017

An Anti-dumping duty is levied against the goods originating in or exported from the subject countries.


Overriding effect of Insolvency and Bankruptcy Code

03 十月 2017

Until the commencement of the Insolvency and Bankruptcy Code (hereinafter referred to as IBC) in May, 2016, there was no single legislation dealing with matters of insolvency and bankruptcy in India. It was widely known and accepted that a plethora of the erstwhile legislations apropos insolvency

Direct Tax

Inventory valuation caught in the web of ICDS, IndAS and settled jurisprudence!

26 九月 2017

Valuation of inventory is not supposed to give rise to any income and therefore the same should be at lower of cost or market value, as held Apex Court in a landmark decision [see End Note 1]. 

Intellectual Property Rights

Groundless infringement threats

26 九月 2017

Intellectual Property (IP) rights ensure that innovation is rewarded and encouraged. In recent times, there has been a proliferation of the IP rights, and a single product may be protected by a multitude of ways, such as patents, trademarks, and design rights.

Classification of leasing services – An expanding quandary

22 九月 2017

After a long wait we have finally voyaged into the Goods and Services Tax regime, and are experiencing many teething problems.

Regulatory Laws

Code on Wages, 2017 – An Analysis

04 九月 2017

The labour law domain in India is a reaffirmation of India’s colonial past and industrial revolution. While current labour legislations have been significantly tailored to suit the unique conditions of the Indian industry and labour force,

International Trade & WTO

Final Findings in anti-circumvention investigation concerning Cold Rolled Flat Products of Stainless Steel – An analysis

30 八月 2017

Final anti-dumping duty was imposed on cold rolled flat products of stainless steel of width between 600mm to 1250mm with certain exclusions.

Understanding composite supply under GST

30 八月 2017

India embarked on its tryst with Goods and Services Tax (“GST”) on 1st July, 2017. In this regard, the Union Parliament and the State Legislatures have enacted various laws for the levy and collection of GST (hereinafter collectively known as “GST Acts”).

Direct Tax

Limitation of Benefits clause in the India Singapore DTAA - An analysis of recent decisions

17 八月 2017

The Mumbai Bench of the Income Tax Appellate Tribunal had occasion to examine the India Singapore Double Taxation treaty in a recent judgment in the case of Citicorp Investment Bank (Singapore) Ltd v. Deputy Commissioner of Income Tax (International Taxation) Mumbai.

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