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Deep mining yields rewards from IBC resolutions, Charanya Lakshmikumaran and Ishita Mathur, Lakshmikumaran & Sridharan 

Deep mining yields rewards from IBC resolutions

By Charanya Lakshmikumaran and Ishita Mathur, Lakshmikumaran & Sridharan 
India is mineral rich, with the mining sector a powerhouse contributing INR913 billion (USD12.3 billion) to GDP. However, this sector, which is integral to government plans to revive the economy, has profitability problems. Falls...
A corridor to new Singapore economic partnerships, Vivaik Sharma and Apeksha Sonawale, Cyril Amarchand Mangaldas

A corridor to new Singapore economic partnerships

By Vivaik Sharma and Apeksha Sonawale, Cyril Amarchand Mangaldas
Singapore’s strategic maritime location, well-respected diplomatic links and excellent treaty network make it the gateway to Asian markets. With 29% of foreign direct investment (FDI), it heads the list of investors in India. The...
How blockchain enhances efficiency in trade finance, Devyani Dhawan and Shivendra Shukla, SNG & Partners

How blockchain enhances efficiency in trade finance

By Devyani Dhawan and Shivendra Shukla, SNG & Partners
Some Indian banks have formed the “Indian Banks’ Blockchain Infrastructure Company” (IBBIC), aiming to use blockchain technology for processing letters of credit (LC) in domestic transactions. The IBBIC is a world first in domestic...
Levy on imported oxygen concentrators challenged

Levy on imported oxygen concentrators challenged

The Delhi High Court in Gurcharan Singh v Ministry of Finance heard a case where the 85-year-old petitioner challenged the government notification dated 3 May 2021 with respect to the levy of an integrated...
Obscurities relating to availability of ITC for covid-19 supplies, Kapil Kumar Sharma and Shubham Vijay, Lakshmikumaran & Sridharan 

Obscurities relating to availability of ITC for covid-19 supplies

By Kapil Kumar Sharma and Shubham Vijay, Lakshmikumaran & Sridharan 
In the course of just a year, times have changed and we have journeyed from a sense of normalcy to absolute anomaly. The outbreak of the pandemic has brought the world to an abrupt...
Cryptocurrencies unchained

Cryptocurrencies unchained?

By Anu Tiwari and Anindita Bhowmik, Cyril Amarchand Mangaldas; Rajiv Luthra and Anirudh Gotety, L&L Partners
Since the Supreme Court overturned India's ban on cryptocurrencies, trading volumes have increased exponentially and home-grown crypto startups have blossomed. But the government has yet to establish a regulatory regime, and reports of another...
Indian-Law-Firm-Awards-2021-logo

Indian Law Firm Awards 2021

Vandana Chatlani reports India has faced a terrible year battling the covid-19 pandemic. Companies and law firm offices shut shop. Homes were turned into work spaces, and lawyers relied on technology to stay connected. Investments in...
Refund of unutilised input tax credits now the norm, Raghavan Ramabadran and Krithika Jaganathan, Lakshmikumaran & Sridharan

Refund of unutilised input tax credits now the norm

By Raghavan Ramabadran and Krithika Jaganathan, Lakshmikumaran & Sridharan
The Finance Act, 2021, amended section 16 of the Integrated Goods and Services Tax Act, 2017 (IGST act). This second article examines the amended section 16(3) and section 16(4) by way of which a...

New to the crew? Here’s what to do

Dibyajyoti Das of London Stock Exchange Group points to the critical first steps that in-house counsel should take in a new job The role of an in-house counsel has become an increasingly important one in...
Zero rating scheme gets controversial revamp, Raghavan Ramabadran and Krithika Jaganathan, Lakshmikumaran & Sridharan

Zero rating scheme gets controversial revamp

By Raghavan Ramabadran and Krithika Jaganathan, Lakshmikumaran & Sridharan
The Finance Act, 2021, amended section 16 of the Integrated Goods and Services Tax Act, 2017 (IGST act). This article examines the reasons for the amendments and explores their impact. There are significant ramifications to...
Tax partner joins Khaitan & Co, Sudipta Bhattacharjee

New tax partner at Khaitan & Co

Sudipta Bhattacharjee has joined Khaitan & Co as a partner in the indirect tax practice at the firm’s New Delhi office. A partner in the New Delhi office at Advaita Legal since October 2016, ...
Driver’s seat

Driver’s seat

The pre-pack insolvency resolution process allows corporate debtors to take the wheel and steer their way out of tricky situations, but its success will depend on how certain roadblocks are bypassed. Akaant KM reports Unprecedented times...
GST seizure and confiscation still causing problems, Surbhi Premi, Lakshmikumaran & Sridharan

GST seizure and confiscation still causing problems

By Surbhi Premi, Lakshmikumaran & Sridharan
Sections 129 and 130 of the Central Goods and Services Tax Act, 2017, have frequently raised problems. Section 129 provides for the detention, seizure and release of goods and conveyances in transit. Section 130...
Legal risks and exposure for Japanese businesses, Rohit Kochhar, Kochhar & Co

Legal risks and exposure for Japanese businesses

By Rohit Kochhar, Kochhar & Co
India is ranked 63rd in the 2019 World Bank Global Ease of Doing Business Index. The complexity of laws, and lack of certainty and uniformity in their implementation, are challenging for traditionally conservative and...
Outlook for the education sector in 2021, Saurya Bhattacharya, HSA Advocates

Outlook for the education sector in 2021

By Saurya Bhattacharya, HSA Advocates
2021 is expected to be more stable, but more active than the previous black swan year. These are the main challenges facing the sector this year. The National Education Policy (NEP) with a 20-year time...
AMLEGALS, Orbit join hands

AMLEGALS, Orbit join hands

Orbit Law Services and AMLEGALS signed a memorandum of understanding on 14 December 2020 to work with each other and share expertise.  The firms will collaborate in areas such as the Insolvency and Bankruptcy Code,...

Cash stimulus for employees unable to travel

In light of the covid-19 pandemic and the nationwide lockdown bringing holiday travel to a standstill, the government came out with a unique proposition enabling employees to obtain a cash payment equivalent to their...
law firm partner exit retention India business law journal

Greener pastures

What is the best way for a law firm to manage the exit of a star partner? Six senior lawyers share their views with Vandana Chatlani With the global economy firmly in the grip of...
Top-foreign-law-firms-for-India-work---foreign-lawyers-Indian-lawyers-legal-services-legal-advise

A cut above the rest

India Business Law Journal reveals its leading foreign firms for India work. Vandana Chatlani reports Life has changed dramatically, and so, too, the process of law and business. Disruption, doubts, and delays caused by the...
non-compete

Keeping competitors at bay

Parties must take care not to have unreasonable or one-sided non-compete clauses in agreements, as these can be rendered ineffective by the courts, writes Kunal Mehta It is well-settled law that a non-compete obligation in...
relief

Slowing the free fall

Taking stock of the relief measures deployed by regulators to soften the impact of the lockdown. Gautam Kagalwala reports With the COVID-19 outbreak, the government has been fighting on two fronts. It has introduced a...
India

Indian Law Firm Awards 2020

The 2021 Indian Law Firm Awards is out. Click here to see "Indian Law Firm Awards 2021" And the winners are ... Rebecca Abraham reports Companies and law firms across India have been grappling with a...
banking

Cryptocurrencies avoid a KO and win on points

By Karthik Somasundram and Sneha Jaisingh, Bharucha & Partners
After five years of studying the global development of virtual currencies (VC), the Reserve Bank of India (RBI) in April 2018 issued a circular under the Banking Regulation Act, 1949 (BRA), the Reserve Bank...
ADA

Change of leadership at ADA

Sonia Gupta has taken over as managing partner of Ashok Dhingra Associates (ADA) from 1 April. She is one of ADA’s co-founders, with dual qualifications as a chartered accountant and attorney. Gupta takes over the...
Legal services largely exempt from GST

GST levied on services not taken

Section 7(1A) read with schedule II of the Central Goods & Service Tax Act, 2017 (CGST Act), prescribes that “agreeing to the obligation to refrain from an act, or to tolerate an act or...
e-commerce

Emerging product liability regime in e-commerce

By Manoj Kumar, Hammurabi & Solomon
The convergence of trade and technology has enabled rapid growth in e-commerce and fintech transactions, throwing up new legal and regulatory challenges including those of product liability involving consumers. There is also the problem...
deals

Deals of the Year 2019

India Business Law Journal reveals the most significant deals and disputes of 2019 and the law firms that worked tirelessly to bring them to fruition The best transactions for the past year in India came...
insolvency

Pecking order

The significance of the insolvency code may be put into question if state governments do not observe the order of priority for creditors over a corporate debtor’s assets, write Arvind Varma and Amita Chohan “The...
vehicles

Are electric vehicles sparking into life at last?

By Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors
There is little doubt that the future of mobility lies with electric vehicles (EVs). The environmental catastrophe that befalls most Indian cities every winter makes it vital for the government to push for faster...
environment

EVs: Driving towards a sustainable environment

By Dipti Lavya Swain and Ketaki Dandiya, HSA Advocates
Automaker Mercedes Benz may have sold 600 units during Diwali, but the automobile sector as a whole is at a low point, forcing the government to assist the massive employment creating sector that contributes...
tax

Methods to levy indirect tax on e-commerce players

By Gautam Khurana and Mamta Saluja, India Law Offices
When e-commerce began nearly two decades ago, merchants and customers operated in a nearly tax-free regime, as the low volume of transactions did not attract government attention. With e-commerce becoming a multibillion-dollar segment and...
board

Amended rules target board transaction powers

The central government notified the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019 on 18 November 2019. The amendment rules amend sub-clause 3 of rule 15 of the Companies (Meetings of...
GST

Managing your GST for cross-border transactions

By Rajesh Kumar and Abhishek Hans, India Law Offices
Cross-border transactions are intricate and complex in terms of indirect tax consequences in India. It is important to understand and analyse the applicability of a goods and services tax (GST) on cross-border transactions. This...
law firms

State of play

Indian law firms face a daunting pace attack from big accountancy firms amid a slow-wicket economy. On top of this, in-house counsel are facing up to more work internally, leaving less for law firms....
Korean

MSME policy and Korean investment in India

By Rajat Prakash and Siddharth Mahajan, Athena Legal
The micro, small and medium enterprise (MSME) sector is the second-largest employer in India, coming in just behind the agrarian sector. The MSME sector plays a critical role in the Indian economy. The central...
demergers

Choosing between business transfers and demergers

By Natashaa Shroff and Taranjeet Singh, Shardul Amarchand Mangaldas & Co
Until 2015, demergers were a popular form of divestment, where the business would be transferred under a court approved scheme as a going concern to the acquirer. Despite the fact that a typical scheme...
Renault-Nissan

Renault-Nissan India GC takes up new role

Yogesh Wadhwa, the India vice president and alliance general counsel (GC) for Renault-Nissan has moved to Dubai to take up the role of GC of Nissan for the Middle East, Egypt, Turkey and Saudi...
Advaita Legal

Should you opt for tax dispute resolution scheme?

By Sudipta Bhattacharjee and Onkar Sharma, Advaita Legal
With the goods and services tax (GST) well into its second year, the government now wants to focus its resources and enforcement machinery on the collection of GST rather than getting bogged down by...
Hammurabi

PwC director to head GST team at Hammurabi

Hammurabi & Solomon has hired Pravesh Khandelwal as a partner to lead its indirect taxes (IDT) and goods and services tax (GST) practice in Gurugram. Khandelwal joins from PricewaterhouseCoopers (PwC), where he worked for...
Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors

Ideas for government to reform ailing power sector

By Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors
The Narendra Modi government’s ambition to make India a US$5 trillion economy by the financial year 2024-25 will require many pieces to come together and the revival of the power sector will be central...
GST

Avoiding contractual disputes arising out of GST

By Sudipta Bhattacharjee and Kanupriya Bhargava, Advaita Legal
The first part of this article, published in the May edition of this journal, highlighted instances of contractual disputes arising out of goods and services tax (GST) due to differences in the interpretation of...
law firms

Leaders of the pack

India Business Law Journal reveals the top international law firms for India-related matters. Vandana Chatlani reports. Five years ago, when Prime Minister Narendra Modi first came to power he was described by former CNN New...
profit

Tax body proposes new rules on profit attribution

The Central Board of Direct Taxes (CBDT) recommended significant amendments to the current rules on attribution of profits to permanent establishments (PEs) in a report issued on 18 April 2019. The report is based primarily...
modi government

Wish list

As the Modi government comes back to power, Lawyers tell Gautam Kagalwala about their expectations for the new term The ruling Bharatiya Janata Party led by Prime Minister Narendra Modi has won the elections resolutely...
Goods Services Tax

Close look at contractual disputes arising out of GST

By Sudipta Bhattacharjee and Kanupriya Bhargava, Advaita Legal
Tax-related disputes arise broadly out of three areas: 1) Tax authorities disagreeing with tax positions adopted by a company on legal grounds; 2)tax authorities disagreeing with tax positions adopted by a company on account...
News in brief

News in brief

CAM GETS IBC PARTNER Cyril Amarchand Mangaldas has hired Richa Roy as a partner in its insolvency and bankruptcy and policy practice in Mumbai. Roy recently worked as a graduate research fellow at the University...

Parliament in numbers

Continuing our regular coverage of India’s parliamentary sessions, Mandira Kala assesses the performance of the Lok Sabha in the past five years compared with the two previous terms The 2019 budget session of India's parliament...
LEXport partner pens comic on GST | India Business Law Journal

LEXport partner pens comic on GST

The managing partner of LEXport, Srinivas Kotni, has released a comic book titled Adventures of the GST Man with the goal of simplifying taxation, a subject that is seen as complex and off-putting for...
India Inc slow to embrace IIoT, finds survey

India Inc slow to embrace IIoT, finds survey

Indian businesses seem to be taking a wait-and-see approach towards the adoption of industrial internet of things (IIoT), according to a recent report by Osborne Clarke. The report surveyed 40 senior executives in manufacturing,...
Sudipta-Bhattacharjee-Shashank-Shekhar-Advaita-Legal

Are designs provided to auto-parts makers dutiable?

By Sudipta Bhattacharjee and Shashank Shekhar, Advaita Legal
Tax authorities have issued several show-cause notices (SCNs) to auto-component manufacturers (ACMs) recently, seeking to recover additional excise duty on designs or drawings provided by automobile companies to the ACMs for the production and...
Abhishek Dutta, Sayli Petiwale, Aureus Law Partners

NCLAT says statutory dues also operational debt

By Abhishek Dutta and Sayli Petiwale, Aureus Law Partners
The National Company Law Appellate Tribunal (NCLAT) on 20 March 2019 dismissed a batch of appeals in the matter of PR Director General of Income Tax (Admn & TPS) v Synergies Dooray Automotive Ltd...

Online aggregators need legal, regulatory clarity

By Vishruta Kaul and Amit Khansaheb, Shardul Amarchand Mangaldas & Co
Regulation of e-commerce in India, specifically the permissibility of foreign investment in the sector has been dominated by, and has evolved into, a discussion on what constitutes a marketplace. While the foreign direct investment...
Sudipta Bhattacharjee, Onkar Sharma Advaita Legal

Denial of pre-GST credit transition open to challenge

By Sudipta Bhattacharjee and Onkar Sharma, Advaita Legal
Section 28 of the Central Goods and Services Tax (Amendment) Act, 2018 (amendment act), has created ripples across the industry because of the insertion of explanation 3 to section 140(1), which retrospectively denies the...
How-to-implement-sound-risk-management-practices-AKHIL-PRASAD-Boeing-International-Corporation-India-country-counsel-and-company-secretary-2

Risky business

Why the failure to implement sound risk management practices can place your company in a precarious position. By Akhil Prasad Businesses have been familiar with risk management for a long time, but recent instances of...
Priya-Mehrai-Indigo-law-business

Rising to the occasion

Priya Mehra began her career at Ajay Bahl & Co, then moved to Singapore with Jones Day, and later to Gibson Dunn & Crutcher, where she helped build the India practice. Now the general...
Deals in brief | India Business Law Journal

Deals in brief

Quad/Graphics buys Periscope American printing company Quad/Graphics acquired Minnesota-based advertising agency Periscope and its subsidiaries in Hong Kong and India in an all-cash deal reportedly worth US$132 million. Khaitan & Co was the India legal counsel to...
Sudipta Bhattacharjee, Advaita Legal

GST liability on annuities: Where does the buck stop?

By Sudipta Bhattacharjee, Advaita Legal
The Goods and Services Tax (GST) Council, in its 22nd meeting in October 2017 recommended tax exemption to “annuity paid by National Highways Authority of India (NHAI) and state authorities or state-owned development corporations...
Rahul Arora and Ruhani Khanna, HSA Advocates

Solar power sector: Looking forward to a brighter year

By Rahul Arora and Ruhani Khanna, HSA Advocates
Last year was full of ups and downs for India’s renewable energy industry. While 2018 started off with the first quarter witnessing a huge increase in installed capacity, especially in the solar power sector,...
Legal-frontier-India

Legal frontiers

Leading law firms shed light on the cutting-edge practice areas that are receiving the attention of India’s top legal minds Internet platform liability Bankruptcy & insolvency Data privacy Taxation  INTERNET PLATFORM LIABILITY  Intermediary liability in India – moving goalposts The internet...
Gouri-Puri-Amit-Singhania-Shardul-Amarchand-Mangaldas

Interim union budget: hits and misses

By Amit Singhania and Gouri Puri, Shardul Amarchand Mangaldas
 TAXATION  Few would disagree that the first term of the Modi government brought in bold tax reforms, including the introduction of a nationwide goods and services tax, demonetization and a crusade against “black” money, abolition...
India-data-privacy-e-commerce-pharma-in-house-lawyers-2

India in 2019

Three prominent in-house counsel foretell the risks and opportunities in the pharma, data privacy and e-commerce sectors Pharma: evolving priorities The year ahead will see pharma companies and their general counsel (GC) continue to grapple with...
Sudipta Bhattacharjee, Advaita Legal

GST notification on solar projects adds to ambiguities

By Sudipta Bhattacharjee, Advaita Legal
Solar power projects in India have suffered from ambiguity regarding applicability of the goods and service tax (GST) on input. This is a critical issue since power projects have no output GST and thus...

Power sector ‘change in law’ disputes see faster resolution

By Poonam Verma, J. Sagar Associates
The Indian infrastructure story has been a mixed bag in the last five years. While there is a boom in infrastructure projects, private investment in the sector has fallen short of earlier estimates. One...

Constitutionality of GST on royalties for mining leases

By Sudipta Bhattacharjee and Shashank Shekhar, Advaita Legal
Payment of royalties to the relevant governments is a common feature across the entire spectrum of mining leases in India (and across the world), irrespective of the type of mineral. Since the expansion of the...

GST laws – the return of retrospective amendments

By Sudipta Bhattacharjee, Advaita Legal
After the uproar caused by the retrospective amendment following the Vodafone judgment, it might have been thought that retrospective amendments of tax laws were a thing of the past. Unfortunately, they have reappeared, this...
Parliament--The-monsoon-session

Parliament: the monsoon session

Continuing our regular coverage of India’s parliamentary sessions, Mandira Kala and Roopal Suhag assess key commercial bills that were debated and passed during the recent session The monsoon session of parliament in 2018 marked the...
CBDT-amends-tax-audit-report-format

CBDT amends tax audit report format

The Central Board of Direct Taxes (CBDT) recently amended the format of the tax audit report that all auditable companies and professionals whose turnover exceeds the prescribed thresholds under section 44AB of the Income...
OLA-GC-RIDES-OVER-TO-RIVIGO

Ola GC rides over to Rivigo

Anurag Sharma, the general counsel (GC) of cab aggregator Ola, left the company after two years to join logistics startup Rivigo and become its first GC. “Rivigo is an exciting opportunity and as the first...
India's legal industry

The state of India’s legal market

Undercutting of legal fees is set to continue, as opposing forces of fragmentation and consolidation battle to shape the legal industry in India. Gautam Kagalwala reports To coincide with the publication of the 2018-19...

GST advance rulings: Useful, despite ‘pro-revenue trend’

By Sudipta Bhattacharjee and Onkar Sharma, Advaita Legal
After more than a year of GST, around 130 advance rulings and nine appellate orders have been pronounced by the Authority of Advance Ruling (AAR) and the Appellate Authority of Advance Ruling (AAAR) of...

Open market for fake goods

A reluctance by the police to enforce criminal laws against counterfeiters is fuelling their illicit trade. Harsh Aggarwal and Roma Arora report Counterfeiting is one of the biggest challenges facing brand owners, as it threatens their...

Bahrain bank funds Navi Mumbai township project

Solomon & Co, which advised Khaleeji Commercial Bank in its funding of a ₹500 billion (US$7 billion) township project, had to work within the Shariah law framework to meet the bank’s requirements. The Bahraini bank...

Phoenix tax partner revives old firm

Aseem Chawla, a partner and tax head of Phoenix Legal, has left to revive the firm that he founded in August 2016. Chawla had merged his tax boutique, ASC Legal, with Phoenix in March 2017....

Many successes chalked up during first year of GST

By L Badri Narayanan, Jyoti Pal and Disha Jain, Lakshmikumaran & Sridharan
After a year of goods and services tax (GST), India can pat itself on the back. While giving full respect and effect to democracy, keeping intact the federal structure, the country has been able...

High fliers

Lawyers from around the world have had a busy year in India working on deals while adhering to the country’s ‘fly-in fly-out’ model. India Business Law Journal reveals the top international firms that are...

Trends show need to adjust GST advance ruling scheme

By L Badri Narayanan, Jyoti Pal and Disha Jain, Lakshmikumaran & Sridharan
To alleviate uncertainty for business created by the complexity of India’s goods and services tax (GST), the government introduced a scheme of advance ruling, borrowed largely from provisions under the previous excise and service...

Issuance of FAQs clarifies GST on financial services

By Sawant Singh and Aditya Bhargava, Phoenix Legal
Along with sweeping changes in federal and state taxation, the goods and services tax (GST) introduced in 2017 also impacted how business was done, particularly in the financial services sector. With the intent of...
Shafaq-Uraizee-and-Anu-Chowdhry,-Lakshmikumaran-&-Sridharan

Impact on global businesses of GST regime in India

By Shafaq Uraizee and Anu Chowdhry, Lakshmikumaran & Sridharan
Since India’s goods and services tax (GST) came into effect in July 2017, organizations have been modifying their internal processes to make them GST-compliant and restructuring their operations to fully reap the benefits of...

Phase of GST amendments and adjustments continues

By L Badri Narayanan and Tushar Aggarwal, Lakshmikumaran & Sridharan
Goods and services tax has been a massive change for the Indian economy. Since its rollout on 1 July 2017, GST has seen both legal and technical amendments to minimize the challenges faced by...

Parliament: The winter session

Continuing our regular coverage of India’s parliamentary sessions, Mandira Kala and Gayatri Mann assess key commercial bills that were debated and passed during the recent session Last year witnessed the introduction and passage of key...

How the budget taxes you

L Badri Narayanan, S Vasudevan and R Subhashree analyse updates to tax laws and other measures proposed for companies in the 2018 Budget Finance Minister Arun Jaitley quoted Swami Vivekananda’s vision of a New India...

E-waybill implementation mandatory but staggered

By L Badri Narayanan and Asish Philip Abraham, Lakshmikumaran & Sridharan
When the GST Council met for the 24th time on 16 December 2017, via video conferencing, the main item on the agenda was to notify the much-awaited e-waybill rules. The e-waybill is a powerful...
Indian-Law-Firm-Awards

Indian Law Firm Awards 2017

Find the latest winners of the top law firms in 2018-2019 here   India Business Law Journal names the top law firms in India 2017-18. Rebecca Abraham reports By all accounts, 2017 has provided both opportunities and...
Deals-of-the-Year-2017

Deals of the Year 2017

India Business Law Journal showcases the most significant deals of 2017 and the law firms behind them. Nandini Lakshman reports The overarching theme in India in 2017 was demonetization. It ravaged the economy, slackened the...
India in 2018

India in 2018

In-house counsel foretell the key issues and developments that will shape the country’s business and legal environment in the year ahead  DIBYOJYOTI MAINAK  India’s ‘start-up boom’ has seen a considerable decline over the last year especially...

Notice pay recovery: Then and under the GST regime

By L Badri Narayanan and Disha Jain, Lakshmikumaran & Sridharan
Stipulation of the notice period in an employment contract is common these days, particularly where attrition levels are relatively high. Specific clauses inserted in the agreement provide that in lieu of serving the notice...
India Business Law Journal

Will the haze clear?

Foretelling what lies ahead for India is a risky business. With so much about India being a mix of the good and the not-so-good, it is only inevitable that stories of the country’s impressive achievements...

GST adjustments aim to help SMEs and exporters

By L Badri Narayanan and Asish Philip Abraham, Lakshmikumaran & Sridharan
The implementation of India’s goods and service tax (GST) is in the hands of the GST Council, on which the central and state governments are equally represented. The council has met 22 times before...

Developing infrastructure: Is a revival on the cards?

By Amitabh Sharma, HSA Advocates
Structural reforms such as demonetization and goods and services tax along with worsening balance sheets at state-owned banks seem to have led to an economic slowdown in India. To spur economic growth and investment,...
Spice money

RBI provides new directions for prepaid payment instruments

The Reserve Bank of India (RBI) issued the master directions on Issuance and Operation of Prepaid Payment Instruments on 11 October so as to review existing regulations in this respect and issue comprehensive directions,...

Interpretation of ‘supply’: An emerging legal battle

By L Badri Narayanan and Tushar Aggarwal, Lakshmikumaran & Sridharan
The recently launched goods and services tax (GST) is having teething trouble and has opened a Pandora’s box of legal issues to be addressed, by taxpayers and the revenue department, as well as tax...

The transition to GST: Early feedback brings adjustments

By L Badri Narayanan and Geetika Srivastava, Lakshmikumaran & Sridharan
When goods and services tax (GST) was implemented on 1 July, after years of delays, there was apprehension as to how corporate India would handle the transition to the new tax regime. However, most...
Indian parliament: The monsoon session

Parliament: The monsoon session

In the first of our planned regular coverage of India's parliamentary sessions, Mandira Kala provides a roundup of important commercial bills that were debated and passed during the recent session, and an assessment of...

Taxing times

As India becomes more familiar with GST, Rebecca Abraham takes stock of issues that have presented interesting challenges When India introduced a goods and services tax (GST) at midnight on 30 June few expected the...
Shaping a concrete destiny - China's Belt and Road Initiative

Shaping a concrete destiny

In the second of a three-part series on China’s Belt and Road initiative, law firms in the region talk about their expectations, while domestic firms explain why India is keeping its distance. George W...
India Business Law Journal

Moving forward

Time to return to the drawing board As concern mounts over the health of the Indian economy there is a growing realization of the enormity of the task at hand. As has been widely reported,...

Dividing goods, services necessary under GST?

L Badri Narayanan discusses the need for more clarity and less superfluous tinkering with new system India’s recently introduced goods and services tax (GST) has brought in its wake benefits as well as a plethora...
GST for legal services clarified

GST for legal services clarified

An error in a 28 June notification where only lawyers and law firms that provided “representational services” were exempt from goods and services tax (GST) was recently rectified as a result of a petition...
Open for business? Key developments in India's legal sector

India: Open for business?

After much debate and anticipation, the liberalization of the legal sector now seems imminent. Gautam Kagalwala speaks to lawyers about the arrival of foreign firms and other key developments affecting the state of play...

The future is fintech

Fintech has dramatically altered our landscape – the way we live as a society and conduct business. In the first part of a special series on technology, Leo Long explores how Indian and other...
Legal services largely exempt from GST

Legal services largely exempt from GST

Initial fears about large-scale disruption proved to be unfounded when India moved to a goods and services tax (GST) on 1 July. The GST does not apply to legal services provided by an individual advocate...
10 years of India business law journal

10 years

Vandana Chatlani reflects on India Business Law Journal’s first decade of documenting legal developments In June 2007, Vantage Asia, a little-known Hong Kong-based publishing house, printed the inaugural issue of a magazine dedicated to covering...
Sawant Singh, Aditya Bhargava, Phoenix Legal, on the Banking regulation act

Banking ordinance: Sound step or halfway measure?

By Sawant Singh, Aditya Bhargava and Sriram Ramachandran, Phoenix Legal
The Banking Regulation (Amendment) Ordinance, 2017, was promulgated on 4 May to amend the Banking Regulation Act to give the Reserve Bank of India (RBI) powers to direct banks to refer certain borrowers into...
India Business Law Journal

A transformative moment?

A top down effort to trigger radical change that just may work When the long-awaited goods and service tax (GST) becomes a reality, India will have taken a big step towards achieving greater economic efficiencies,...
Trademark rules reformed

Trademark rules reformed

The Trade Marks Rules, 2017, have replaced the Trade Marks Rules, 2002, with a view to bringing about radical changes in the trademark registration process. Key changes include: New forms The forms for filing and related...
L Badri narayanan and Asish Philip Abraham at Lakshmikumaran & Sridharan,

GST rates from 5% to 28% fixed for most specific items

By L Badri Narayanan and Asish Philip Abraham, Lakshmikumaran & Sridharan
The government has set 1 July as the deadline for the rollout of the goods and services tax (GST) from the current indirect tax regime. GST is set to subsume a variety of central...
Business Law Journal, letter to the editor

Why GST needs to be deferred

Dear Editor, The government has reiterated its firm intention to unveil the new goods and services tax (GST) regime from 1 July. The business community has called for a later implementation date, citing their lack...

Eyeing Africa

African and Indian law firms should collaborate to profit from growing trade relations, writes Nankunda Katangaza The African Development Bank (AfDB) Group will hold its annual meetings on the Indian subcontinent for the first time on 22-26...
L Badri Narayanan and Asish Philip Abraham, Lakshmikumaran & Sridharan

Unveiling of draft GST rules paves way for 1 July rollout

By L Badri Narayanan and Asish Philip Abraham, Lakshmikumaran & Sridharan
With the goal to implement good and services tax in India from 1 July, the government has released 14 sets of GST rules for public consultation. The GST Council will meet on 18 and...
The germination of the Belt and Road initiative and its growth

Think big

The Belt and Road initiative dwarfs the Great Wall of China, and pretty much anything else on earth, in its perceived magnitude. in the first of a special series of articles, Andy Gilbert looks at the...
Private equity investors get hungry for control

Big, bold and bullish

The desire for control, the struggle for funding, a changing tax regime and increased liability are some of the key themes dominating India’s private equity landscape. Vandana Chatlani reports Last year was a year of big and...
Aseem Chawla from Phoenix legal hires new tax head

Phoenix legal hires new tax head

Aseem Chawla has joined Phoenix Legal as a partner and head of its tax practice. Chawla merged his firm, ASC Legal, with Phoenix Legal in New Delhi. ASC Legal focused on direct and indirect tax...
India Business Law Journal

Altering realities

The more things change, the more they remain the same While cynics have long drawn strength from the truism in this old French saying, many would see it as an apt description of attempts to...
L Badri Narayanan and Shweta Walecha, Lakshmikumaran & Sridharan

Passage of four bills moves GST a step closer to reality

By L Badri Narayanan and Shweta Walecha, Lakshmikumaran & Sridharan
The proposed goods and services tax (GST) moved one step closer to becoming a reality on 27 March when the Lok Sabha (lower house of the parliament) approved the four bills which are intended...
Iqbal Khan, Natashaa Shroff, Shardul Amarchand Mangaldas

Dynamism endures

By Iqbal Khan and Natasha Shroff, Shardul Amarchand Mangaldas
Iqbal Khan and Natashaa Shroff at Shardul Amarchand Mangaldas analyse India’s PE landscape in 2017 In a global investment environment characterized by increasing policy uncertainty, the India investment story is a rare example of a...
L Badri narayanan and Asish Philip Abraham at Lakshmikumaran & Sridharan,

GST Council: New era of indirect tax administration

By L Badri Narayanan and Asish Philip Abraham, Lakshmikumaran & Sridharan
The GST Council is a constitutional body set up to administer the goods and services tax in terms of article 279A of India’s constitution. The council had 10 meetings in the past six months...
Gautam Khurana and Randy Whitmeyer from India Law Offices on an article about Tip for US Companies Doing Business in India

Top tips for US companies doing business in India

By Gautam Khurana, India Law Offices and Randy Whitmeyer, Morningstar Law Group
India offers many advantages for US companies, including English language proficiency, a vibrant technology industry, an educated workforce and lower costs, as well as a number of pitfalls to avoid. Here are some quick...
Indian law firm awards 2016

Indian Law Firm Awards 2016

India Business Law Journal names the outstanding law firms of 2016. Rebecca Abraham reports For law firms across India 2016 was an interesting year. While a downward pressure on fees continues to be a challenge for firms of...
PM DEVAIAH Ease of doing business: myth or battle cry?

Ease of doing business: myth or battle cry?

Centre-state differences undermine efforts to present India as a favourable commercial destination, argues PM Devaiah While the great Indian juggernaut of liberalization chugs along, the never ending debate on improving the ease of doing business continues...

Money matters

L Badri Narayanan and Amar Gahlot analyse what the budget means for business. The government has been fairly active over the past year liberalizing certain sectors and implementing other business-friendly schemes. Its drastic demonetization move dominated headlines as efforts...