News
Area-based exemption – Limitation for filing applications for special rates
20 八月 2021
The Gauhati High Court has held that application for fixation of special rate of value addition under Notification No. 17/2008-C.E. as amended by Notification 31/2008-C.E. ought not to have dismissed by the Department on grounds of limitation when such applications were filed immediately after the decision of the Supreme Court dated 22 April 2020 in the case of VVF Ltd.
RoDTEP Scheme to replace MEIS notified
20 八月 2021
The Ministry of Finance in the press conference held on 14 September 2019 had announced the rollout of Remission of Duties and Taxes on Exported Products (‘RoDTEP’) scheme replacing the existing MEIS scheme.
Retrospectivity cannot be presumed by use of words ‘for removal of doubt’
12 八月 2021
A provision in a tax law cannot be presumed to be retrospective if it alters or changes the law as it earlier stood, even if it uses the words ‘for the removal of doubt’. Reiterating this, the Supreme Court of India has allowed the appeal of an assessee in a case where debentures were issued in favour of financial institutions in lieu of interest accrued and payable to the financial institutions.
Online gaming – Madras HC quashes law prohibiting games played for stake even if involving skill
05 八月 2021
The Madras High Court has struck down the amendment in the Tamil Nadu Gaming Act, 1930, which prohibited all forms of games being conducted in cyberspace, irrespective of the game involved being a game of mere skill, if such game is played for a wager, bet, money or other stake. The amendment was brought in by an Ordinance last year and was formalised by the Tamil Nadu Gaming and Police Laws (Amendment) Act, 2021 recently.
Parliamentary Committee recommends re-establishment of IPAB and many changes in Indian patent regime
27 七月 2021
The Department Related Parliamentary Standing Committee on Commerce has on 23 July 2021 submitted its Report reviewing the intellectual property rights regime in India. The Committee in its 161st Report submitted before both the Houses of the Indian Parliament, while recommending the re-establishing the Intellectual Property Appellate Board (‘IPAB’), has also suggested many changes in the Patents Act, 1970.
Customs brokers licence and registration under sea cargo regulations to be valid for lifetime
26 七月 2021
The Central Board of Indirect Taxes and Customs (‘CBIC’) has abolished the renewals of licence/registration under the Customs Brokers Licensing Regulations, 2021 and the Sea Cargo Manifest and Transhipment Regulations, 2018. The licenses/registrations once issued these Regulations would thus be valid for lifetime.
Consumer protection – Article in newspaper, providing inaccurate health advice, is not ‘defective product’
12 七月 2021
The Court of Justice of the European Union has held that an article in a printed newspaper that provides inaccurate health advice relating to the use of a plant which, when followed, proved injurious to the health of a reader, does not constitute a ‘defective product’ within the meaning of the EU’s Directive on liability for defective products.
Intellectual Property Division (IPD) created at Delhi High Court with immediate effect
07 七月 2021
The Delhi High Court has created an Intellectual Property Division (‘IPD’) at the High Court to deal with matters related to Intellectual Property Rights. As per the Office Order dated 7 July 2021 signed by the Registrar General, the IPD would be governed by the IPD Delhi High Court Rules...
Insolvency – Value of security or recoverability of debt not material for not triggering CIRP
21 六月 2021
The National Company Law Tribunal (NCLT), Mumbai has held that in a Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, only the debt and default need to be looked in to and that the value of the security would have no bearing on the legal requirement, which when satisfied would trigger the Corporate Insolvency Resolution Process (CIRP).
Copyright infringement – Direction to WhatsApp to suspend accounts unauthorizedly circulating film content
16 六月 2021
The Delhi High Court has directed WhatsApp LLC to suspend the WhatsApp accounts of specified defendants to ensure that they cease the infringement of the plaintiff’s copyright on WhatsApp.