articles
International Trade & WTO
Anti-absorption measures: India’s foray into strengthening its anti-dumping enforcement
01 十月 2024
The article briefly discusses the first anti-absorption investigation conducted by India on Polyethylene Terephthalate (‘ PET ’) imported from China PR. It briefly touches upon the concept of anti-absorption with a lucid example. Next, it discusses few issues which arose in this investigation, and closes by summarizing the implications of enforcing anti-absorption measures generally and, in particular, on PET.
Direct Tax
Fate of Indirect Transfer Tax post Tiger Global judgment – Will it add hurdles for MNEs?
20 九月 2024
The article highlights the impact of Tiger Global judgment on taxation of indirect transfer of shares of an Indian company where grandfathering benefit is not available. The authors state that the decision may pose hurdles in cases where grandfathering benefit is not available.
Direct Tax
Taxation of real estate transactions: A post-budget analysis
11 九月 2024
The article summarises the amendments related to capital gains tax made to simplify the characterization of long-term assets, computation of gains and application of tax rates which will have a significant impact on taxpayers transferring their capital assets on or after 23 July 2024. The authors also highlight key aspects which warrant taxpayers’ attention.
Corporate, Mergers & Acquisitions / PE
Anti-Dilution – Balancing the ills of a Down Round
06 九月 2024
The article discusses the anti-dilution rights which is the most common armour provided to investors against a down round funding raised by any company. These can be exercised in two ways - the first being full ratchet anti-dilution protection while the second is weighted average method of computation.
International Trade & WTO
Standing of applicant to constitute Domestic Industry – Standard of discretion
04 九月 2024
Under Indian anti-dumping law and practice, the qualification of the applicant domestic producers to constitute the domestic industry is sometimes a contested issue. The article in this issue of International Trade Amicus discusses some of the relevant jurisprudence on the issue of the DGTR’s discretion in determining the standing of a producer(s) under the relevant provisions.
Direct Tax
Flew too close to the Sun: The impact of abolishment of Angel Tax in India
27 八月 2024
The article discusses the recent abolition of Angel Tax. According to the authors, if the tax officers don’t show restraint in taxing the capital investment, the intended relief may not come and the tax bills may just increase due to high tax rates.
Corporate
Comparative analysis: Navigating RBI’s Draft Trade Regulations and Directions
23 八月 2024
The article covers major changes that are proposed to be implemented upon the final release of the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024 and the draft direction on export of goods and services. The Reserve Bank of India has invited public comments and feedback on the Draft Trade Regulations and Draft Trade Directions by 1 September 2024.
Corporate, Regulatory
Navigating Merchanting Trade Transactions in a changing regulatory landscape
22 八月 2024
The article discusses draft Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024 and draft Directions to Authorised Dealers on Export and Import of Goods and Services, in respect of Merchanting Trade Transaction, and points out various ambiguities.
Direct Tax
Garnishee of a garnishee: The Income Tax perspective
21 八月 2024
Garnishee of Garnishee’ is triggered when the garnishee fails to make the payment to the creditor of its debtor and pursuant to which, the creditor seeks to recover money from the debtors of the garnishee. The article discusses in detail the question as to whether the tax department has power to go after the debtors of the garnishee i.e., whether it would lead to issuance of notice under Section 226(3) to garnishee of garnishee
Intellectual Property
Emerging trends of award of damages in IP suits
19 八月 2024
Recently, Indian Courts have taken a proactive stance towards awarding increasing sums of damages for infringement in IPR matters. However, to balance competing goals of compensation, justice and uniformity, Courts have laid down several parameters which are to be considered while calculating damages. The article, while exploring the subject, analyses various case law and the Intellectual Property Division Rules as issued by the Delhi High Court.
Intellectual Property
Not attending Hearing cannot be the basis for refusal of Patent application – Delhi HC remands matter
19 八月 2024
The article discusses a recent decision of the Delhi High Court wherein the Court has held that non-appearance of the Applicant in the hearing before the Controller cannot dispense with the Controller’s obligation to pass a reasoned and speaking order. The High Court has held that the Appellant not attending the hearing cannot be the basis for passing a decision under Section 15 of the Patents Act.
International Trade & WTO
Free Trade Agreements – Analysis of proposed amendment to Customs Section 28DA vide Finance (No.2) Bill, 2024
09 八月 2024
The article highlights the proposed amendment to Customs Section 28DA, relevant in case of imports under various Free Trade Agreements. The amendment substitutes the term 'Certificate of Origin' with 'Proof of Origin', and re-defines the term 'Issuing Authority'. The change is seen as a trade facilitation measure.
Corporate
The invisible tightrope: Navigating employer’s interests and employee’s privacy in India’s DPDP era
09 八月 2024
The article discusses the seven fundamentals, cutting across specific provisions of the DPDP Act and critically examines the core principles underpinning the Act from the employers’ perspective. According to the authors, it is best if employers brace up and begin compliance preparations at the earliest and start preparing an updated data protection policy.
Corporate
Analysing Budget 2024 from the lens of Ease of Doing Business
08 八月 2024
The article analyses the Budget proposals and discusses changes relating to attracting foreign investments, benefits proposed in tax regime, evolution in insolvency resolution, flexible company structures, credit enhancement to MSMEs, easy exits to companies, decriminalisation of offences, and proposal to incentivize states if they lower the stamp duty rates.
International Trade & WTO
A legal analysis of plurilateral rule making at WTO
05 八月 2024
The article discusses the legal basis for plurilateral agreements and assesses their compatibility with the broader principles of multilateral rule-making at the WTO. It considers Articles III and IX of the Marrakesh Agreement Establishing the WTO and observes that such plurilateral joint initiatives have neither been blessed by the Ministerial Conference nor by the broader WTO Membership.
Goods and Services Tax
Section 11A of the CGST Act: Old wine in new bottle?
01 八月 2024
This article examines the need and scope of the new Section 11A as proposed by the Finance (No. 2) Bill, 2024, and the potential challenges foreseeable by insertion of said provision in the Central Goods and Services Tax Act, 2017.
Intellectual Property
Pacing towards disentangling Section 3(p) of the Patents Act, 1970 relating to ‘traditional knowledge’
30 七月 2024
The article chiefly focuses on the Madras High Court’s interpretation of Section 3(p) of the Patents Act, 1970 relating to 'traditional knowledge'. According to the authors, the decision is a first stride towards judicial clarification of Section 3(p). The interpretation provided by the Court is a much needed consolation sought by the Applicants where the Patent Applications relate to products or processes, misconstrued as being part of traditional knowledge.
Customs
Legislative changes under Budget 2024-25 – Introduction of ‘fetters’ to beneficial character of MOOWR scheme
26 七月 2024
In this article, an attempt shall be made to explore the ramifications of a specific legislative change introduced in Budget 2024-25 vide Clause 101 of Finance (No.2) Bill, 2024 (‘Finance Bill’) in relation to Section 65 of the Customs Act, 1962 (‘Customs Act’). The amendment proposed under Clause 101 of the Finance Bill shall come into effect on the date of enactment of the Finance (No.2) Act, 2024.
Intellectual Property
Reaffirming standards: Bioavailability v. Therapeutic efficacy and Coverage v. Disclosure
22 七月 2024
The article discusses the recent judgement of the Divisional Bench of the Delhi High Court in the case of Natco Pharma v. Novartis Ag and Anr. The bench focusses on the two pivotal issues under a broader question of a credible challenge to the validity of a patent. First was enhanced bioavailability data could be construed as proof of enhanced ‘therapeutic efficacy and second was the concept of Coverage v. Disclosure in patent applications.