Articles

Preparing for GST audit and annual returns

Goods & Services Tax (GST) is a self-assessment and trust-based system of taxation wherein the registered person himself assesses and deposits his tax liability without any interference of tax officers. Due to such nature of the tax system, various types of audit mechanism have been incorporated to ensure compliance with the provisions by verifying the correctness of declared turnover, taxes paid, refunds claimed and tax credit availed.

Pendency of objections to an arbitral award amounts to a dispute for the purposes of Section 9 of IBC

Supreme Court had an occasion to decide whether the provisions of the Insolvency and Bankruptcy Code, 2016 (‘IBC’) can be invoked in respect of an Operational Debt where an Arbitral Award has been passed in favour of the Operational Creditor in respect of such Operational Debt, but, the objections against the said Arbitral Award are pending under Section 34 of the Arbitration & Conciliation Act, 1996 (‘A&C Act’).

Section 29a of IBC - Impact and recent developments

The Insolvency and Bankruptcy Code 2016 (‘Code’) aims for resolution of insolvency as opposed to liquidation. The law was framed with the intention to expedite and simplify the process of insolvency and bankruptcy proceedings in India ensuring fair negotiations between opposite parties and encouraging revival of the company by formulation of a resolution plan.

Standard Essential Patents - The Philips judgement and unanswered questions

Koninklijke Philips Electronics N.V. (Philips), being one of the first Standard Essential Patent holders to initiate SEP litigation in India, has secured a major victory in what is believed to be the first ever ‘post-trial’ judgment in an SEP litigation.

Deemed Associated Enterprises - Interplay between Sections 92A(1) and 92A(2)

Section 92 of the Income-tax Act, 1961 (‘the Act’) provides that any income arising from an international transaction shall be computed, having regard to the arm’s length price.

Anti circumvention investigation concerning glass fibre - Resolving inconsistencies in practice and interpretation

Circumvention of anti-dumping duty is one of the foremost challenges for investigating authorities. In spite of the absence of normative provisions concerning circumvention in the WTO’s Anti-Dumping Agreement, Member nations of the WTO have developed their own frameworks for dealing with anti-circumvention.

Refund of GST under inverted duty structure

Goods and Services Tax (GST) was launched in India on July 1, 2017 after for about a decade from the time it was first proposed.

A comparative analysis of legal remedies available to home buyers in India

Prior to the enactment of the Real Estate (Regulation and Development) Act, 2016 (“RERA”), aggrieved home-buyers had the options of approaching the consumer courts [see End Note 1] or the civil courts to address their grievances. However,

India proposal to recognise cross border insolvency

The Ministry of Corporate Affairs, Government of India has invited suggestions on a draft chapter on Cross Border Insolvency (Proposed Amendment) proposed to be included within the framework of Insolvency & Bankruptcy Code, 2016 (IBC) by a public notice dated 20-6-2018 (Notice).

Panel report in Australia – Plain packaging: A “healthy” verdict

Extensive control of non-resident over Indian entity – A taxing relation!!

E-way bill system – Time to relax penal provisions