News
Delhi HC rules on interest liability under Section 234B
15 十一月 2013
Reinforcing, perhaps, the significance of finer distinctions in fact situations and observing that tax laws have to be interpreted at times with a touch of equity, the Delhi High court in DIT –I v.
Third party payments allowed for import and export transactions
15 十一月 2013
Reserve Bank of India has allowed third party payments for import and export transactions. As per A.P. DIR Circular No. 70, dated 8-11-2013, such transactions shall be subject to the conditions such as availability of tripartite agreement, declaration in Export Declaration Form (EDF), mention in bill of entry and invoice, reporting of outstanding, etc.
Amnesty scheme to regularize export obligation default cases
28 十月 2013
Indian Ministry of Commerce has prescribed a procedure for regularization of Export Obligation (EO) default cases under Advance authorization, DFIA and EPCG Schemes.
Factory canteens exempted from service tax
25 十月 2013
Catering service provided in canteen maintained in a factory has been exempted from service tax. Notification No. 14/2013-S.T. dated 22-10-2013 has been issued by CBEC to insert entry no. 19A in the mega exemption Notification No. 25/2012-ST.
US not to impose countervailing duty on Indian shrimp
26 九月 2013
The United States International Trade Commission (USITC) has, on 20-9-2013, determined finally that U.S. industry is neither materially injured nor threatened with material injury by imports of frozen warm water shrimp from India.
Services provided to educational institutions – Exemption clarified
26 九月 2013
Services like hostels, housekeeping, security, canteen and transport services to ferry students are exempted from service tax if provided to an educational institution. These services are exempted if the same are provided in respect to service which is exempt/not liable to service tax.
Novel claim without technical contribution – patentability not satisfied
24 九月 2013
The High Court of Justice, England has declined to interfere in the case pertaining to denial of patent to a claim envisaging two computers connected via the internet where the software moves data from one computer to another using a conventional email technique.
Copyright - Common law remedy cannot override specific statute
24 九月 2013
Examining the claim to protection of quasi-property rights in (match related) information as against the rights envisaged in Section 16 of the Copyright Act of 1957, the Division Bench of the Delhi High Court held that there are no proprietary rights over facts and information and cannot be created by judicial intervention.
New Companies Act comes into force
06 九月 2013
The Companies Bill 2012 received Presidential assent on 29th August 2013, after scores of amendments and years of debates and discussions, particularly on points like mandatory spending on corporate social responsibility (CSR), investor protection measures and one person company.
Medicament or cosmetic – Supreme Court decides whether product cures or cares
19 八月 2013
A product used mainly to cure or treat diseases, containing curative ingredients even in small quantities, is to be considered as a medicament.