Tax Newsletter

Half Yearly Roundup of developments in International Trade & Customs: India

Infrastructure and Energy Digest – October 2021

In this month’s newsletter, we have examined the order of the Supreme Court regarding jurisdiction of regulatory bodies qua regulation of trading in electricity forward contracts,

Quarterly Update – Competition Law & Policy – Q3 of 2021

We are pleased to share with you the latest edition of our Competition Law update..

Navigating GST 2.0 – Issue 12

Economic Laws Practice (ELP) & Taxsutra in their monthly Newsletter titled ‘Navigating GST 2.0’ give a comprehensive analysis of : Valuation provisions, their applicable provisions, and typical controversies. The Evolving GST Landscape Governing E-Commerce in India. Key Judicial Pronouncements and Advance Rulings enumerates the recent remarkable verdicts, orders, rulings and decisions of the Hon’ble Supreme Court, High Courts, AARs, Tribunals, and the Appellate Authorities. Recent amendments, updates, clarifications, and modifications to the indirect tax laws by the Government with respect to Legislative updates. Also included is an interview with Mr. Sachin Rathod, General Manager Accounts & Finance for A Raymond Fasteners India Pvt Ltd.

Legal implications of recent issues in the hospitality sector in India

Set against the backdrop of one of the most difficult periods in the hospitality sector..

The Interplay Between CSR and ESG Norms: What India Inc and Investors Need to Focus on

With sustainable and impact investing gaining traction, ESG is picking up pace as an important tool for investors to identify their investments. The Indian regulators, MCA and SEBI

Digital Taxes | Uncertainty shrouds India’s equalisation levy

In their article for Moneycontrol, ELP’s Kumar Visalaksh and Arihant Tater discuss India’s recent decision to be part of the OECD consensus on digital taxation. More specifically

All expenditure of VC Funds including Carried Interest to carry GST – A major setback to the Industry

The recent CESTAT Bangalore ruling in ICICI Econet and Internet Technology Fund [TS-290-CESTAT-2021-ST] that ‘carried interest’ - which is a fund share of profits

Proposed E- commerce rules dissected

The Consumer Protection (E-commerce) Rules, 2020 (E-comm Rules) were notified in July 2020 with the aim to accommodate and regulate trade that is making a quick shift towards the online model

What are the duties of directors in ailing hotel companies?

ELP’s Sujjain Talwar (Senior Partner) and Megha Agarwal (Principal Associate) have authored an article on for ET Hospitality

Key Changes by SEBI – June 29, 2021

SEBI revises regulatory framework for Independent Directors | Introduces concept of well informed investors - accredited investors | Introduces various other key changes

India’s Consumer Protection Rules: What Foreign E-Commerce Entities Need To Be Cognisant Of

Digital/e-commerce players are facing scrutiny from multiple regulatory check-points in India, a trend which is mirroring the global current in that direction.

Taxation of the Digitalized Economy

The emergence of new technologies and its application in a variety of systems has led to challenges with respect to regulation for many Governments..

ELP – Knowledge Series – Part 1 of 2021

Select articles in this series are dedicated to regulatory changes announced in India's recent Union Budget - our article on India's tariff policies for instance, examines the Government's stance on tariffs and customs duties - which may force several companies to revisit their supply chain structures

Production Linked Incentive Scheme

Each PLI Scheme specifies conditions and qualifying criterion for eligibility. Qualifying parameters across notified PLI Schemes are similar, with threshold criteria differing in each Scheme. Key parameters are as follows:

Infrastructure Book

Challenging circumstances have unfolded in the wake of the Covid-19 pandemic. Although there are echoes in plagues and the spread of viruses in both far and recent pasts, the Covid-19 pandemic is unprecedented in many ways

Quarterly Update – Competition law & policy- Q1 of 2021

On January 20, 2021, the Competition Commission of India (CCI) approved the proposed acquisition by Flipkart Investments Private Limited (Flipkart) of a minority stake of 7.8%, on a fully diluted basis, in Aditya Birla Fashion and Retail Limited (Aditya Birla) (collectively, Parties). The relevant market proposed by the Parties was the broad market for B2B sales..

Is your arbitration agreement novated? Arbitrator, not the court, will decide

SUPREME COURT APPOINTS ARBITRATOR AND REFUSES TO ENTERTAIN OBJECTIONS OF NOVATION OF AGREEMENT STATING THAT THOSE ARE MATTERS FOR AN ARBITRATOR TO DECIDE.

Taxes on employee perquisites & emoluments – A match not made in heaven

The Authority for Advance Ruling (‘AAR’) under the service tax regime, in case of a Global Investment Banking company, while examining the car lease scheme offered to the employees, gave a wide very connotation to “in the course of or in relation to his employment”

Equalization Levy: The Ambiguity Continues To Exist

The Memorandum to Finance Bill, 2021 (Bill) states that “there is a need for some clarification to correctly reflect the intention of various provisions concerning

Snowballing role of trustees in mutual fund

Snowballing role of trustees in mutual fund....

Navigating GST – Issue 10

The GST regime came as a solo performer in the Indian world of varied range of indirect taxes. While there were a lot of expectations during its implementation, the subject still lacks clarity on certain aspects and calls for frequent amendments.

Union Budget 2021: An Analysis

We at ELP have been analyzing the budgets for two decades now and the record will reflect that more often than not most budgets have not lived up to the hype; but todays budget analysis reveals a stable, pragmatic and long-term budget for India’s growth.

The Budget Buzz Make in India

With the Finance Minister holding a Made in India Tablet in a red case instead of the conventional briefcase or the traditional 'bahi-khata', the message across spectrum is loud and clear i.e. Be Vocal for Local. And the budget, if at all, has only given more reasons to businesses for making more and more in India.

The Budget Buzz – Customs Tariff Measures

In her Union Budget speech, the Finance Minister was intent on positioning India as a global manufacturing hub calling manufacturers world over to Make in India and Make for the World. In its bid to address this agenda through customs and tariff measures, the Finance Minister made significant policy and feasible legislative changes to secure the interest of domestic manufacturers against cheap imports.

Corporate Law Compendium

India’s regulatory regime in the corporate sector has been witnessing swift changes.

ELP Update – CAROTAR 2020 – Obligations on exporters

Chapter VAA of the Customs Act, 1962 (‘Customs Act’/’the Act’) inserted on March 27, 2020 stipulates a scheme for administering the verification of the country of origin of the goods imported under preferential tariff FTAs with different countries.

Indemnity, Reps & Warranties and Insurance in M&A

This is the first edition of the Practice Guide – India M&A published by Lexology Getting the Deal Through. It provides a contemporary analysis of the legal framework, opportunities, challenges and risks that arise in connection with M&A transactions in India.

Taxation & Other Laws (Relaxation & Amendment of Certain Provisions) Bill, 2020

The COVID-19 pandemic has caused immense loss to the lives of people as well as given rise to an econo

INDIA OPPORTUNITY – 2020

Tax and Regulatory Incentives available for doing Business in/and with India

Infrastructure Projects in India

The Indian infrastructure sector has gone through two cycles of investment. The current inflection point is borne out of the changing economic and legal landscapes as well as experiences in privatization.

New Consumer Protection Act: Why businesses need to be prepared for greater risk exposure

The Government of India has introduced various consumer-centric initiatives with businesses now increasingly being at the receiving end of consumer-centric actions and notices from the authorities. Set against this context, this article highlights the new Consumer Protection Act, 2019 (CPA) (which is set to be notified) and - more importantly- what corporate India needs to be mindful of.

Enforcing a claim for liquidated damages in India: Key messages.

Naresh Thacker and Ria Dalwani co- author an article titled 'Enforcing a claim for liquidated damages in India: Key messages' for IBA.

Chambers and Partners Litigation Guide 2019

ELP authors the India Chapter for the Chambers and Partners Litigation Guide 2019.

ELP Article for ABA – Proposed amendments to the arbitration regime in India

Naresh Thacker and Ria Dalwani author an article for American Bar Association on the elevation of arbitration as the preferred mode of dispute resolution in India.