Blogs

The GST law was with also the objective of reducing multiple litigations pertaining to erstwhile regime like VAT, Service Tax, and Excise etc. being put to rest. However, there are still aspects like compensatory damages, employee notice period recovery which needs clarity. In many private organizations, employees would be legally bound to serve for specified period which could vary from 1 month to 3 months depending on termination. If employee fails, then the security amount collected...

In respect of many of the durable goods, the manufacturers provide after-sale warranty services i.e. for a specified period of time after the sale of the product, the manufacturer assumes responsibility to provide service for any defect in the product and/or replaces any part free of cost (or as mentioned in the agreement in this regard). In some cases, a manufacturer is a person located outside India who supplies the equipment or any good through an Indian dealer/intermediary and then also...

India moved into the new regime of the GST taxation, which left the taxpayers with the stock on which the existing tax was paid (central excise and VAT) and also with the balance of the tax credit of the existing law and may other challenges considering this Chapter XX of the Central Goods and Service Tax Act, 2017 has transitional provisions from section 139 to 142.

In order to eliminate double taxation at the time of transition into GST, all taxpayers were given a facility to carry...

Litigation is all about the convincing the authorities about the compliance of law on facts of each case. This begins with clear understanding of the facts and clear understanding of the relevant provisions of the applicable laws. Normally, the most litigation is on account of possible different interpretations of the law. In other words, the ambiguities in the provisions of law results into litigation. In some cases, the discretionary powers given in the law to the revenue authorities also...

Major retrospective benefit for exporters, EOUs etc. in the form of duty drawback availability for past supplies from 5^th December 2017. Claims for 2 years can be made by the suppliers to EOUs or EOU itself and others.

Ministry of commerce implements and monitors the Foreign Trade Policy (FTP) framed for export and import transactions. FTP provides the basic framework of policy and strategy to be followed for promoting exports and trade. The policy is periodically reviewed to incorporate...