News
No interest if differential duty paid before finalization of provisional assessment
01 一月 2016
The Supreme Court of India has dismissed the Special Leave Petition filed by the Revenue department against the order of the Bombay High Court in a case involving liability to pay interest when the duty was paid before finalization of provisional assessment.
PDI and free after sales services charges when not includible in transaction value of vehicles
01 一月 2016
Pre-delivery inspection charges (PDI) and free after sales service charges, which are not charged by the manufacturers of vehicles from the dealers, are not to be included in the transaction value of the vehicles, on which the manufacturer has to pay Central Excise duty.
Patent for process of testing – Use in ‘manufacture’
28 十二月 2015
The Court of Appeals of the Federal Circuit, in respect of a process patent for testing a drug, has held that infringement only occurs under 35 U.S.C. § 271(g), as a result of “making” a product, and does not extend to testing to determine whether an already synthesized drug substance possesses existing qualities.
Interest Equalisation Scheme on pre and post shipment export credit
28 十二月 2015
Reserve Bank of India has allowed exporters to avail the Interest Equalisation on Pre and Post Shipment Rupee Export Credit. The scheme is effective from April 1, 2015.
Reporting of fraud by auditors - amendments come into force
28 十二月 2015
Provisions of Sections 14 and 15 the Companies (Amendment) Act, 2015 (21 of 2015), that amend Sections 143 and 177, respectively, of the Companies Act, have come into force from the 14-12-2015.
US Court rules on whether display of results in web search can infringe
12 十一月 2015
In yet another interesting tussle between retailers who chose not to opt for a particular e-commerce portal and the inevitable, may be, unintended results of the internet search yielding trademarked goods in the results page, the United States Court For Appeals for the Ninth Circuit (CAFC) put forth its views on initial interest confusion, possibility of confusion, intention to confuse and infringement.
GST in India – Reports on business processes released
03 十一月 2015
The Joint Committees on Business Processes for Goods & Services Tax (GST), set up by the Ministry of Finance, have given their reports providing a broad outline of the processes to be followed in respect of registration, payments, refunds and in case of filing of returns under the proposed GST regime by the assessees.
Trademarks - ‘First in market’ relevant over ‘first to register’
26 十月 2015
The Supreme Court of India has upheld the interim injunction granted by the trial court on the basis of ‘first in the market’ test in a dispute where the defendant had filed for registration of the mark six years prior to the commencement of user by the Plaintiff, but had refrained from using the mark.
Arbitration when party initiates proceedings to blacklist another
26 十月 2015
Punjab & Haryana High Court has held that it is open to parties to refer the issue of blacklisting to arbitration.
SEBI has jurisdiction in respect of CIS offered by Trust
26 十月 2015
Securities Appellate Tribunal has held that the fact that Section 11AA(2) of the SEBI Act, 1992 refers to any scheme or arrangement made or offered by any ‘company’ would not mean that the jurisdiction of SEBI to regulate Collective Investment Scheme (CIS) is restricted to any scheme or arrangement made or offered by any company registered under the Companies Act, 1956 only.