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

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Direct Tax All Industries
Navigating limitation period labyrinth
The Bombay HC has held that timelines for passing an assessment order specified in Section 153 of the Income Tax Act, 1961 are not to be extended in cases where the assessee takes the DRP route and the final assessment order under s.144C(13) has to be passed within the overall timeline prescribed under s.153. Considering that the general practice followed by the tax officers is to pass only the draft orders within the timelines, the article highlights the impact of this decision.
25 Aug 2023
All Practices All Industries
Insights into the Tax Law terrain
In its endeavour to spread awareness of the crucial developments in tax laws and the way-forward on various pain points troubling the industry, Lakshmikumaran & Sridharan Attorneys (LKS) is participating as Knowledge Partner in a physical seminar being organized by Institute of Business Laws (IBL) on 25th of August from 9:00 AM to 5:00 PM in Pune.
25 Aug 2023
Intellectual Property FMCG +4
Trends in GI sector: An analysis
In recent years Geographical Indications (‘GIs’) has emerged as one of the most important instruments for protecting the “quality, reputation or other character of goods essentially attributable to their geographical origin”. It is a ‘source identifier’ and indicator of quality. It helps to promote goods of a particular region or country and is “eligible for relief from acts of infringement and/or unfair competition”.
Vaishali Joshi+118 Aug 2023
All Practices All Industries
Key issues impacting the Pharmaceutical Sector
Indian Pharmaceutical Industry plays a prominent role in the Global Pharma Ecosystem. It is the world's largest provider of generic medicines by volume and is also the largest vaccine supplier in the world. The value of this sector is expected to reach USD 65 billion by 2024. Indian pharmaceutical products are exported to various overseas markets including the US, UK, European Union, etc.
16 Aug 2023
Regulatory IT & ITES
Digital Personal Data Protection Bill
This article is the first in a series of articles that discusses the Digital Personal Data Protection Bill, 2023 and outlines key obligations and action items that may be implemented by Fiduciaries and other entities under the Bill.
11 Aug 2023
All Practices All Industries
Export and global operation: Challenges Faced by Indian Pharma Industry
In this article, the authors discuss key challenges faced by the pharma industry in GST which may affect the industry in their global operations and exports, imports and refunds, which are aside from the issues being faced in marketing and supply chain, procurement and input tax credit, etc, covered separately here.
09 Aug 2023
All Practices Healthcare & Pharma
Key issues impacting the Pharmaceutical Sector
The pharmaceutical sector in India plays a seminal position in the domestic and international economy. It provides more than 50 per cent of global demand for several vaccines, 40 percent of generic demand in the US and 25 percent of all medicines in UK. The value of this sector has been estimated at $42 billion in 2021, and it is expected to reach $65 billion by 2024 .
09 Aug 2023
All Practices All Industries
In-focus: Pharmaceutical sector
Tax laws have been evolving. The changes in regulations are impacting tax positions in direct and indirect taxes. GST law has recently completed six years, during which the law has seen significant development and clarifications from time to time.
07 Aug 2023
Regulatory IT & ITES
Analysing the Digital Personal Data Protection Bill
The Minister of Electronics & Information Technology introduced the Digital Personal Data Protection Bill, 2023 on 3 August 2023 , in the Lok Sabha. The Bill is a successor to the Draft Digital Personal Data Protection Bill, 2022 which was released by the Ministry of Electronics & Information Technology in November 2022. The article provides the comparative insights on the Bill vis-à-vis its 2022 counterpart.
04 Aug 2023
Insolvency All Industries
Withdrawal of corporate insolvency proceeding even prior to formation of committee of creditors
The article discusses a recent decision of the Supreme Court establishing that a plea for the withdrawal of the Corporate Insolvency Resolution Process can be allowed by the adjudicating authority even prior to the establishment of the committee of creditors. The author observes that the Supreme Court has not only addressed the existing gap in Section 12A of the IBC but it has also recognized the obligatory status of Regulation 30A.
A S Aniruddha03 Aug 2023
All Practices All Industries
Circumvention of Trade Remedy measures – A critical analysis of Indian provision
Trade remedy measures are applicable only to specific products originating in certain countries. Sometimes exporters make changes in the business model to overcome the measures by circumventing the duties and thereby rendering the measures largely ineffective.
02 Aug 2023
GST Consultancy All Industries
Leasing of capital goods between two GSTINs
The article seeks to analyse the GST implications on leasing of capital goods between ‘distinct persons’, in the light of a recent ruling of the Maharashtra Appellate Authority of Advance Ruling. After providing the crisp summary of the Ruling, the article examines the implication of the Ruling in respect of issues regarding valuation, mere movement of goods not amounting to supply, and documentation.
Padmasri Manyam Ananya Raghavendra28 Jul 2023

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