News
Consolidated FDI Policy
12 九月 2017
Government of India has released the latest Consolidated FDI Policy, 2017 (FDI Policy 2017), effective from August 28, 2017.
21st GST Council meeting – Major decisions
11 九月 2017
The GST Council met in Hyderabad on 9th September 2017 to discuss and decide on various issues including extension of date for filing GST returns.
GST/VAT liability in case of chain of successive supplies
04 九月 2017
In a case involving supply of goods by a taxable person in the first State where, before such supply transaction is entered into, the purchaser, who is a taxable person in the second State, expresses an intention to resell the goods immediately, before transporting them from the first State to a taxable person established in a third State, the Court of Justice of the European Union has held the first transaction to be liable to VAT, as they constituted internal supplies.
Valuation of ATF available in fuel tank of aircraft returning from foreign trip
04 九月 2017
CESTAT Delhi has rejected the contention of the Revenue department that valuation of Aviation Turbine Fuel available as remnant fuel in the aircraft returning from foreign trip, has to be done by including 20% as notional freight charges in terms of Rule 10(2) of Customs Valuation Rules.
Cenvat Rule 3(4) proviso is ultra vires Credit Scheme
04 九月 2017
Gujarat High Court, in the case of Advance Surfactants India Ltd. v. Union of India, has held the proviso to sub-rule (4) of Rule 3 of Cenvat Credit Rules to be ultra vires to the scheme of Cenvat Credit inasmuch as it restricted the utilisation of credit to the extent such credit was available on the last day of the month or quarter, for payment of duty relating to that month or the quarter, as the case may be.
Forex gain on royalty or interest income received by resident, taxable in India
04 九月 2017
The assessee, Ballarpur Industries Ltd, a public limited company derived income from business and from royalty and interest from a joint venture company in Malaysia.
Trademarks – Phonetic similarity when word used as suffix in one mark and as prefix in another
04 九月 2017
Bombay High Court on 2-8-2017, in the case of Pidilite Industries Limited v. Poma-Ex Products, observed that there existed high degree of phonetic similarity between the mark of the plaintiff “FEVIKWIK” and the mark of the defendant “KWIKHEAL”.
Copyright in literary work authored by director of company
04 九月 2017
The Delhi High Court on 4-8-2017, in the case of Neetu Singh v. Rajiv Saumitra granted an interim injunction in favour of the plaintiff. The suit was pertaining to copyright infringement in a literary work.
Global injunction on display of search engine results
04 九月 2017
Google has on 24th of July brought an action before the US District Court (Northern District of California-San Jose Division) to prevent enforcement of the Canadian Supreme Court Order that prohibits Google from publishing within the US, search result information about the contents of the internet.
Right to Privacy – Supreme Court’s landmark judgement
01 九月 2017
There was an apparent conflict between the judgments of the Supreme Court in MP Sharma case (8-judge bench) & Kharak Singh case (6 judge bench) on the one hand, versus more than 6-7 different 3-judge and 2-judge decisions 1973 and onwards, on the other hand.