No event scheduled. Please check again in future.
Lakshmikumaran and Sridharan (L&S) is organising a webinar on the recent decision of Supreme Court in case of VKC Footsteps. Noting certain inequities and anomalies as pointed out by the assessee, the Apex Court has urged the GST Council to reconsider the formula for refund in case of inverted tax structure.
RoDTEP – Benefits, Challenges and the Way Forward
Ministry of Commerce vide Notification dated 17 August 2021 has notified the RoDTEP scheme. DGFT has also issued Appendix-4R specifying the rates for various sectors under the scheme. Broadly, the scheme is applicable with effect from 1 January 2021, however, there are categories for which the date is yet to be implemented.
Since the introduction of capital gain taxes in India in 1947, the question of taxation of a partner on his capital balance appreciation has been subjected to judicial debate in various dimensions. Common law did not consider a partner as a person distinct from a firm, and hence, Courts have repeatedly held that a partner cannot make taxable profits from the firm.
New re-assessment provisions - An end to litigative past?
Re-assessment under the Income Tax Law has always been a subject matter of frequent stand-off between the assessors and the assessee. The Finance Act, 2021 has revamped the entire scheme of re-assessment at a time when one thought jurisprudence on this subject has well evolved with various Courts establishing settled positions of law.
The tax proposals presented during the recent Union Budget in February 2021 reflects the principle - Minimum Government, Maximum Governance. To achieve this objective, changes proposed to existing tax laws have been aimed at simplifying administration, ease in compliance and mitigating litigation.
Exploring the Scope of Diagnostic Patents with special reference to Section 3(i) of the Patents Act
Legal Aid Society, Campus Law Centre, University of Delhi is organizing the webinar titled “Exploring the Scope of Diagnostic Patents with special reference to Section 3(i) of the Patents Act”
Decoding the New Income Tax TDS and TCS on Goods
The Finance Act, 2020 extended the ambit of Tax Collection at Source (TCS) to sale of any goods [Section 206C(1H) of the Income Tax Act, 1961]. Now, the same transactions have also been included within the scope of Tax Deduction at Source (TDS) by the Finance Act, 2021 with effect from 1st July, 2021 [Section 194Q].
The second wave of Covid-19 pandemic has re-emphasised the importance of CSR spending. Recently, the Ministry of Corporate Affairs has also notified amendments to Section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility) Rules, 2014, effective from 22 January 2021 and also issued certain clarifications in the form of General Circulars.
Customs Bonded Manufacturing & Warehousing Scheme
There are various challenges/complexities arising in the export promotion schemes viz., Advance Authorisation /EOU/SEZ etc. Hence, the government has initiated to promote the ‘Bonded Manufacturing & Warehousing Scheme’ as a part of Make in India initiative. In fact, various amendments have also been made in the scheme during last couple of years to make it business-friendly and bring down legal ambiguities.
Choosing the Right Export Promotion Scheme
The webinar will compare and analyse the four export promotion schemes - Advance Authorisation/EPCG, EOU, SEZ and Customs bonded manufacturing facility.