articles
Direct Tax
Guarantee Fee – No interest on lending credit-worthiness
26 十二月 2017
The payments relating to debt claims, service fee or other charge, could be characterized as interest provided there is privity of such contract.’
Intellectual Property Rights
Scope of Section 3(h) of the Patents Act, 1970 - An analysis
26 十二月 2017
Chapter II of the Indian Patents Act, 1970 (hereinafter the “Act”) enlists Inventions not patentable. Section 3(h) of the Act mandates that “a method of agriculture or horticulture” as non-patentable subject matter.
Regulatory Laws
Luck Factor - An analysis of changes in Gaming Law
05 十二月 2017
In today’s world, there is no sector or industry which does not marginally, if not entirely, depend on technology for its business purposes. This has shrunk the physical world and enlarged the virtual space, increasingly so in the field of gaming, thereby changing its rules.
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.
Insolvency
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,