We, at L&S, are committed to helping our clients stay ahead of legal and market trends and hold regular Seminars, Conferences and Trainings on various legal and law related topics in India.

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Past events

九月 2022

The introduction of Section 194R to the Income-tax Act, 1961 by the Finance Act, 2022 has raised many practical challenges. Though the TDS provision is intended to ensure effective compliance of substantive law made in 1964, the wordings of the TDS provisions required businesses to have a complete re-look on the manner in which their affairs were arranged.

八月 2022

The revised regulatory framework for overseas investment provides for simplification of the existing framework for overseas investment and has been aligned with India’s current business & economic dynamics. There are significant changes that could affect cross border/ M&A activity of Indian residents.

八月 2022

The declared service of ‘agreeing to the obligation to refrain from an act or to tolerate an act or situation, or to do an act’ was first introduced in the service tax regime and the same has been specifically declared as a service under the GST regime as well. The scope and applicability of this entry on liquidated damages, compensation, late fee, penalty etc., has been a subject matter of debate and dispute since the beginning.

八月 2022

Free Trade Agreements and GST – Engines of Growth

Da Vinci Hall, Hyatt Regency Pune

GST helped remove internal barriers to trade, unifying the indirect taxes. By removing the cascading effect of taxes, GST brought down manufacturing costs. India now intends to remove barriers to cross-border trade and investments.

七月 2022

It is commonplace for business entities to incentivize their stakeholders and partners such as dealers, distributors, or agents through different monetary and non-monetary ‘benefits or perquisites’. Discounts, gifts, free samples, sponsored travel packages etc. are some of the common illustrations of benefits and perquisites extended.

六月 2022

A new re-assessment regime has been introduced under the Income-tax Act, 1961 (‘Act’) with effect from 1st April 2021 bringing in sweeping changes in both law and practice. While the erstwhile scheme was founded upon the Assessing Officer’s “reason to believe” that income chargeable to tax has escaped assessment, the new regime is centered around robust information collection mechanism (including inter departmental communications) being developed by the CBDT.

五月 2022

The Supreme Court on 19th of May delivered two historic decisions, Union of India v. Mohit Minerals and Commissioner v. Northern Operating Systems. The decision in Mohit Minerals case holds that IGST is not payable by the importer on the ocean freight component when goods are being imported on CIF basis.

五月 2022

The Government of Telangana has introduced a ‘One Time Settlement Scheme’ vide Order No. G.O.Ms. No. 45 dated 9.5.2022 to settle the disputed tax under the legacy Acts such as Andhra Pradesh General Sales Tax Act, 1957, the Telangana Value Added Tax Act, 2005, the Central Sales Tax Act, 1956 and the Telangana Entry of the Goods into Local Areas Act, 2001.

五月 2022

The Supreme Court in its recent judgment of Union of India v. Ashish Agarwal [Civil Appeal No 3005/2022, decision dated 4 May 2022], has sought to strike a balance between the amendments made by the Finance Act, 2021 to the scheme of re-assessment, and the extension of period of limitation by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020

三月 2022

The avowed objective of the Legal Metrology Act, 2009 is to protect the interest of consumers from the perspective of security and accuracy of weighments and measurements. In furtherance of the same, Legal Metrology Packaged Commodities Rules, 2011 inter alia mandates printing of specified declarations on commodities imported/manufactured and sold in pre-packaged form. Recently certain amendments have been proposed to the PC Rules and the same will be made effective from 01.04.2022.

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