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SCOMET UPDATE: Implementing Global Authorization for Intra-Company Transfers ('GAICT') of SCOMET Items/Software/Technology’ w.e.f. 17 March 2020
Kochhar & Co. Advocates & Legal Consultants, March 2020

This is an update with respect to notifying the proforma of applications and End Use Certificate for implementation of ‘Global Authorisation for Intra-Company Transfers (GAICT) of SCOMET items / software/ technology’ w.e.f. 17 March 2020 vide Public Notice No.65/2015-20 dated 17 March 2020 issued by DGFT.   The proforma and their applicability to seek export authorisation has been notified as tabulated below.......   S...

Karnataka Labour Department Directive on COVID-19 Outbreak
Kochhar & Co. Advocates & Legal Consultants, March 2020

On March 5, 2020, the Karnataka Labour Department issued a circular (“Circular”) requiring all establishments in the State to grant 28 days of paid sick leave to any employee who has been infected by the COVID-19 virus (“Coronavirus”). These precautionary measures laid out by the Government aim to prevent the spread of Coronavirus...

GST Updates - GST Council Recommendations in 39th meeting held on 14 March 2020
Kochhar & Co. Advocates & Legal Consultants, March 2020

The GST Council in its 39th meeting held on 14 March 2020 has made the following recommendations:   Movement in Tax Rate   Goods Increase in GST rates on mobile phones and specified parts to 18% from 12% Handmade and other than handmade matches rates rationalised to 12 %, thereby solving the HSN classification issue: Increase in handmade matches from 5% to 12 % Decrease in other matches from 18% to 12%   Services Reduction in GST rates on maintenance, re

India Law Update - Karnataka Labour Department's Directive on COVID-19 Outbreak
Kochhar & Co. Advocates & Legal Consultants, March 2020

On March 5, 2020, the Karnataka Labour Department issued a circular (“Circular”) requiring all establishments in the State to grant 28 days of paid sick leave to any employee who has been infected by the COVID-19 virus (“Coronavirus”). These precautionary measures laid out by the Government aim to prevent the spread of Coronavirus...

GST Update: NCLT Directs GST Authorities to Accept GST Returns and Payments Manually
Kochhar & Co. Advocates & Legal Consultants, March 2020

This is an update with regard to the recent order issued by NCLT, Mumbai in the miscellaneous application of Videocon Group vs CGST Department in the matter of State Bank of India vs Videocon Industries Limited, wherein section 14 of Insolvency and Bankruptcy Code (‘IBC’) has been invoked prohibiting initiation or continuation of any proceedings by any authority against the debtor during the moratorium period...

Tax Alert: Pre-Sales and Marketing Services by Indian Subsidiary to Foreign Parent Entity Qualify as Intermediary Subject to GST
Kochhar & Co. Advocates & Legal Consultants, March 2020

This Tax Alert summarizes a recent ruling of the Karnataka Appellate Authority for Advance Rulings[1] which upheld that ‘Pre-sale and Marketing Services’ rendered by an Indian subsidiary (‘service provider’/ ‘supplier’) to its foreign parent entity ( (‘service recipient’) qualify as intermediary services, thereby subject to GST...

The Gujarat High Court Recently Allowed Refund Claims of IGST for Tax Payers Importing Capital Goods Under the EPCG Scheme Benefit Paid During the Interim Period of 1 July 2017 – 13 October 2017.
Kochhar & Co. Advocates & Legal Consultants, March 2020

This Tax Alert summarizes a recent ruling of the Gujarat High Court[1] which discussed the issue that whether a taxpayer is entitled to refund of the IGST paid on import of capital goods under Export Promotion Capital Goods (‘EPCG’) Scheme for the interim period between 1 July 2017 i.e...

Employment law update - Recent judgement of the Madras High Court - Woman Giving Birth After Twins Not Eligible For Maternity Benefits
Kochhar & Co. Advocates & Legal Consultants, March 2020

A recent judgment of the Madras High Court: Woman Giving Birth After Twins Not Eligible for Maternity BenefitsIn a recent judgment of theMadras High Court,a working woman who gave birth to a child in her second delivery after having twins in the first delivery has been held to not be entitled to maternity benefits, as the second delivery should be treated as the third child...

Kochhar & Co. - Budget Highlights 2020-21 series newsletter on Healthcare & Pharma Sector update
Kochhar & Co. Advocates & Legal Consultants, March 2020

The Finance Minister Smt. Nirmala Sitharaman envisages a holistic vision of healthcare that translates into wellness of the citizen...

Kochhar & Co. - Budget Highlights 2020-21 Series Newsletter on Unveiling Issues on International Taxation
Kochhar & Co. Advocates & Legal Consultants, March 2020

1. Changes in rules relating to determination of ‘residence’ in IndiaThe scope of income of a person liable to tax in India depends upon his residential status in a particular financial year. Indian Income Tax Act 1961 (the Act) recognizes three statuses, namely, Resident and Ordinarily resident’ (ROR), ‘Resident but not ordinarily resident’ (RNOR), and Non-resident (NR)...

Kochhar & Co. - Budget Highlights 2020-21 Series Newsletter on Recent Changes in the Provisions Relating to Not-for-Profit Organisations Proposed in the Finance Bill 2020
Kochhar & Co. Advocates & Legal Consultants, March 2020

Union Budget 2020- Changes in provisions relating to Educational Institutions, Hospitals, Trusts, etc. engaged in Public Charitable or Research activities Current Position:Currently, the income of public charitable trusts and not-for-profit organisations, engaged in public charitable activities and registered with Income Tax department under Sections 12A or 12AA of the Income Tax Act, 1961 (the Act), is exempt if the same is applied to the objects of the trust or accumulated for doing so...

The Third Gender and Transforming the Workplace - A Brief Note on the Transgender Persons (Protection of Rights) Act, 2019 and its Impact on the Indian Corporate/Workplace Scenario
Kochhar & Co. Advocates & Legal Consultants, March 2020

The golden thread passing through the equality scheme[1] of the Indian constitution is “enjoyment of life by all citizens and an equal opportunity to grow as human beings irrespective of their race, caste, religion, community, social status and gender”.One of the basic tenets of the equality scheme lies in the recognition and acknowledgment of the “right of choice and self-determination”...

Corporate Law Update: New M&A Rules affect Minority Shareholders
Kochhar & Co. Advocates & Legal Consultants, February 2020

 The Ministry of Corporate affairs has recently notified Sections 230(11) and 230 (12) of the Companies Act, 2013 (“Companies Act”) and certain amendments to the Companies (Compromises, Arrangements and Amalgamation) Rules, 2020 (“M&A Rules”)[1] (together, the “Amendments”)...

Artificial Intelligence in the World of IP
Kochhar & Co. Advocates & Legal Consultants, February 2020

Artificial Intelligence (AI) in the world of Intellectual Property has raised some very interesting questions and debate. The patentability of AI related inventions, proprietary issues of inventorship and the lack of adequate regulations and standards have left some open-ended questions. AI related inventions generally use techniques like machine learning, deep learning and neural networks...

India Releases: 2020-21 Union Budget
Kochhar & Co. Advocates & Legal Consultants, February 2020

Hon’ble Finance Minister, Government of India, while presenting the Union Budget 2020 today stated that her proposals are structured around the themes of ‘Aspirational India’, ‘Economic Development’, and a ‘Caring Society’.  As we start decoding the fine print of her tax proposals please find hereinbelow key tax highlights of the Finance Bill, 2020...

Private Mergers and Acquisitions Overview
Kochhar & Co. Advocates & Legal Consultants, January 2020

Kochhar & Co. Senior Partner, Suhas Srinivasiah, and Principal Associate, Ajay G Prasad, have co-authored the India chapter of the ‘Private Mergers & Acquisitions’ published by Practical Law, Thomson Reuters. The paper provides a holistic view of the M&A law in India and recent trends in the private M&A space”...

Kochhar & Co. - Indian Company Law Update - July-August 2019
Kochhar & Co. Advocates & Legal Consultants, September 2019

MCA UPDATE – JULY 2019 What When Summary 1. Notification of Ministry of Corporate Affairs (“MCA”) with regards to filing / verification of KYC details of the directors 25.07.2019 The Ministry of Corporate Affairs (“MCA”) has notified the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019...

Indian Corporate Law and FEMA Update – June - July 2019
Kochhar & Co. Advocates & Legal Consultants, September 2019

What When Summary 1. Online reporting for filing of Annual Return on Foreign Liabilities and Assets (FLA Return) by Indian Companies 28.06...

Foreign Filing Licenses - Timeline and Strategy
Kochhar & Co. Advocates & Legal Consultants, September 2019

Indian patent law does not permit the filing of patent applications outside the territory of India unless a patent application is filed in India first. The Patent office examines the application to ensure that it does not fall under the defence sector or has any relation to atomic energy...

Scope of Enquiry by the Court as to Existence of an Arbitration Agreement at the Pre-Arbital Stage: An Indian Arbitration Law Perspective
Kochhar & Co. Advocates & Legal Consultants, July 2019

In the past few years, the Indian Government has realised that its justice delivery system especially in respect of commercial disputes needs to keep pace with India’s economic growth. Though the Indian Arbitration and Conciliation Act, 1996 (“Act”) is based on the UNCITRAL principles, judicial decisions had virtually obliterated the original intent of the Act and gravely undermined its avowed objective of expeditious dispute resolution...

Single Economic Entity and Corporate Separatedness Doctrine: A Juxtaposition
Kochhar & Co. Advocates & Legal Consultants, April 2019

The law governing companies globally, and in India, recognises a company to be a personality, distinct from its shareholders. In the celebrated case of Salomon v Salomon & Co. Ltd[1]., Lord Halsbury LC, had stated:“[A] company must be treated like any other independent person with its rights and liabilities [legally] appropriate to itself … whatever may have been the ideas or schemes of those who brought it into existence.”1...

Article on India Employment Laws - Special Allowances Under the Employees Provident Fund (EPF) Act Need to be Special
Kochhar & Co. Advocates & Legal Consultants, March 2019

Special allowances under the EPF Act need to be special On February 28, 2019, the Supreme Court of India passed a landmark order on whether special allowances fall within the scope and meaning of “basic wages” under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (the “EPF Act”)...

Intellectual Property Holding Companies and their Benefits
Kochhar & Co. Advocates & Legal Consultants, December 2018

Most companies go to great lengths to protect and maintain their intellectual property (IP). These companies recognize the value of their IP and work towards its development, sustainability and commercialization. IP strategy customary includes where and when to file patent applications, how to choose a brand name and register it, how to protect and enforce copyrights, protect trade secrets, etc...

Rights of Persons with Disabilities Act
Kochhar & Co. Advocates & Legal Consultants, October 2017

Rights of Persons with Disabilities Act - A well meaning legislation albeit with complex terms, anomalies and aggressive penal provisions The Rights of Persons with Disabilities Act (“the Act”) is undoubtedly a welcome and much awaited enactment. The genesis of the Act lies in the UN Convention for persons with disabilities and the Act seeks to fulfill India’s obligations under this International treaty...

Title Insurance in India: An Opportunity Awaits
Kochhar & Co. Advocates & Legal Consultants, September 2017

Under RERA, the promoter of a real estate project is obliged to obtain the requisite insurance policies required to secure the development of project and insurances as may be notified by the government. The lack of transparency and uniformity in the Indian real estate market has done little to entice insurance companies from tapping into lucrative land deals and developing insurance products for the real estate sector...

 

 

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