Articles

Customs, DGFT and Section 28AAA: A clarification that creates confusion

The article discusses recent CBIC Instruction No. 17/2026-Cus., which permits Customs adjudication under Section 28AAA in certain circumstances without prior DGFT invalidation of licences or scrips.

Rohan Muralidharan+104 Nov 2026

Customs All Industries

Judicial clarity on interest deferment under MOOWR: A review of Rajasthan HC decision in Commissioner v. Acme Aklera Power Technology

The article examines the Rajasthan High Court’s recent decision on interest demands for unused goods imported under MOOWR and cleared ‘as such’. It explains that Section 61(2) of the Customs Act, 1962 applies only to goods under Section 61(1)(c), not qualifying manufacturing goods under clauses (a) and (b).

Ratan Jain+104 Nov 2026

Securities Law All Industries

Manager’s/Sponsor’s obligation to maintain minimum continuing interest – Obstacles to compliance with SEBI’s requirements

In the months of July, August and October, SEBI passed a few settlement orders with respect to alleged violations of SEBI regulations relating to the obligation of the Manager or the Sponsor of the AIF. The article reviews one of such settlement orders passed by SEBI and discusses the various obstacles faced by AIFs and their Managers and Sponsors in complying with SEBI’s regulations for a minimum commitment by the Sponsor or the Manager of an AIF.

Vinod Joseph+330 Oct 2026

General Corporate All Industries

IFSCA imposes certification requirements to enhance cyber security

The article discusses the IFSCA circular which was issued on 27 October 2026 to impose certification requirements to strengthen cyber security framework. These guidelines require boards and senior management to have adequate cyber risk knowledge and mandated regular employee training.

Vinod Joseph+230 Oct 2026

General Corporate Financial Services

SEZ Rules amended to ease regulatory burden for funds in GIFT-IFSC

The article discusses the Special Economic Zones (Fourth Amendment) Rules, 2026 which has been notified by Ministry of Commerce and Industry to ease regulatory burden of funds. The changes made by the Amendment Rules are relevant for funds and Fund Management Entities (‘FME’) established in an International Financial Services Centre (‘IFSC’).

Vinod Joseph+127 Oct 2026

Search Articles

Customs Consumer Electronics
Interactive flat panel displays: Budget 2025 kindles a curiosity
The article discusses the classification and the rate of customs duty on Interactive Flat Panel Displays (IFPDs) as announced in Budget 2025. The authors note that while there is an increase of BCD rate from 10% to 20% on goods classifiable under Tariff Item 8528 59 00, the IFPDs should be correctly classifiable under Heading 8471.
Jyoti Pal+207 Feb 2025
Customs Automobiles & Components
Continuing dilemma- Over classification of parts and accessories of motor vehicles
This article analyses the recent judgment delivered by the Kerala High Court in the case of Auto Fit Car Interiors Pvt. Ltd. v. Union of India & Ors., concerning classification of car seat cover and steering cover, made up of textile fabrics and cotton handloom fabrics and its entitlement under Merchandise Exports from India Scheme (MEIS).
Srinidhi Ganeshan+104 Feb 2025
Competition & Antitrust Financial Services
CCI raises scrutiny of minority investments
The article discusses a recent decision of the CCI wherein the Competition Commission penalised an Investment Management company and dismissed the claim that subscription to convertible securities should receive differential treatment from acquisition of shares. The CCI was also not persuaded by the argument that the rights package was available to all investors, and should therefore, be considered ordinary shareholder rights.
Neelambera Sandeepan+204 Feb 2025
Customs FMCG
Reconciling labelling requirements applicable under various Rules and Regulations for goods imported into India
Certain labelling laws target goods by category - food, drugs, etc., while there are others which target goods based on other aspects like form of packaging (LM Rules) or applicability of quality standards (BIS). As ambit of these laws is varied, a single product might require complying with labelling requirements set out in more than one law. Hence, the labelling requirements prescribed under different laws for the same product is required to be examined.
Srinidhi Ganeshan+130 Jan 2025
Competition & Antitrust IT & ITES
NCLAT Stays CCI Order - Gives a ‘Blue Tick’ to Messaging Major to Continue Sharing User Data
The article discusses the recent partial stay granted by the NCLAT to the direction issued by the Competition Commission of India to WhatsApp LLC, prohibiting it from sharing user data collected on its Over-the-Top messaging app on the smartphones (WhatsApp application) with other Meta companies for advertising purposes.
Charanya Lakshmikumaran+130 Jan 2025
Direct Tax Financial Services
Are there still broken links in taxation of ‘Broken Period Interest’?
The article highlights that while the recent judgment of Supreme Court in Bank of Rajasthan has put to rest the controversy in context of investments made by banks in government securities, the taxability of Broken Period Interest for other taxpayers is far from settled.
Prachi Bhardwaj+222 Jan 2025
Customs All Industries
Interest on IGST: Decision of Mahindra & Mahindra and subsequent legal developments
The article discusses the Bombay High Court in the case of Mahindra & Mahindra which had ruled that as there is no substantive provision in Section 3 of the CTA that provides for payment of penalty or interest on duty other than BCD, penalty/interest payable on CVD/SAD is not recoverable. The author discusses the subsequent changes by the Finance (No.2) Act, 2024 and how the issues has now been referred to the Larger Bench.
Srinidhi Ganeshan+214 Jan 2025
BIS All Industries
Decoding Conformity Assessment Scheme-II of BIS – The Registration Scheme
In the previous issue of LKS BIS Amicus, we threw light upon various aspects of the Product Certification Scheme, i.e. Scheme-I of the Bureau of Indian Standards (BIS). The next Scheme listed under the BIS (Conformity Assessment) Regulations, 2018 is Scheme-II, also known as the Registration Scheme, and involves self-declaration of conformity. Till date, BIS has issued 6 QCOs under this scheme, covering a total of 73 products.
13 Jan 2025
International Trade and WTO Metals+1
India imposes Quantitative Restrictions on imports of Metallurgical Coke
The article discusses at length the recent decision of the Ministry of Commerce to impose quantitative restrictions on imports of Low Ash Metallurgical Coke which is a crucial raw material for the steel industry that follows production through the blast furnace route. Analysing the notification and the subsequent DGFT Trade Notice, the author discusses various hardships which will be faced by the steel industry...
Ankur Sharma07 Jan 2025
Data Protection & TMT IT & ITES
Adoption of Artificial Intelligence in the FinTech sector: A regulatory overview
The article discusses how Banks and financial institutions are leveraging AI in the financial sector for customer onboarding, periodic monitoring, customer engagement, credit risk assessment, cybersecurity and compliance. The authors also discuss the regulatory and compliance risks like issues related to intellectual property, transparency, accountability, contractual risks, data privacy, and cyber risks.
Sameer Avasarala+106 Jan 2025
Customs Healthcare & Pharma
Laboratory Chemicals: Challenges posed by this unique entry in Indian Tariff
The article discusses a recent change in the definition of ‘Laboratory chemicals’. Elaborately stating the triggering point for the amendment, the true meaning of the term, what is ‘own use’, and the primacy of classification under Heading 9802, the authors state that in its current form, the definition could be a breeding ground for future disputes. According to them, the Government should consider amending the entry of laboratory chemicals to restrict it to certain situations.
Ratan Jain+102 Jan 2025
Customs All Industries
IGST on FTWZ transactions: Retrospective amendment to put dichotomy to rest
The article discusses a recent recommendation of the GST Council in respect of transactions by Free Trading and Warehousing Zones (‘FTWZs’) within their premises, i.e. without exporting or clearing the goods in the Domestic Tariff Area. The authors elaborately discuss the conflict in the light of different AAR Rulings, including the use of different methods of interpretation (strict and purposive) for this purpose.
Ratan Jain+101 Jan 2025

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