TIMELINE FOR IMPLEMENTING GST The Hon’ble Finance Minister recently indicated that, while the Government is aiming to implement GST from April 2017, the roll out would have to take place by September 16, 2017 at the latest. In the parallel, a...

Dear Reader, The last couple of years have been a watershed in the Indian Arbitration scene. While the Courts across the country have done their bit to support arbitration as the preferred mode for dispute resolution within the country, the legislature...

In a historic breakthrough, the Constitution (One Hundred and Twenty Second Amendment) Bill, 2014 (‘GST Bill’) has been passed unanimously by the Rajya Sabha of the Parliament. This is a significant step and takes the country closer to Goods and Services...

The Companies (Share Capital and Debentures) Rules, 2014 have been amended vide the Companies (Share Capital and Debentures) Third Amendment Rules, 2016 dated 19 July 2016, to bring major changes with respect to issuance of equity shares with differential voting rights...

Dear Reader, The Government of India released the draft of the Model GST Law into the public domain earlier this week. The attached booklet contains ELP’s analysis of the provisions of the model law. ELP-Analysis-of-Model-GST-Law.pdf We trust you will find this...

Suresh Kumar Bansal & Others vs. Union of India & Others  – Delhi High Court W.P. (C) 2235/2011 and W.P. (C)  2971/2011 (the judgement was delivered on 3rd June, 2016) FACTS Two Writ Petitions were filed before the Delhi High Court...

Krishi Kalyan Cess of 0.5% has been recently introduced in Service tax and the effective rate of tax is now 15%. Please find enclosed our alert on various aspects of Krishi Kalyan Cess. ELP-Tax-Alert---Levy-of-Krishi-Kalyan-Cess.pdf We trust you will find this an...

In furtherance of the amendment made vide the Finance Act, 2015 (as made effective from April 01, 2016) qua the services provided by the Government or Local Authority, the Central Board of Excise and Customs (“CBEC”) has issued Circular No. 192/02/2016...

Circular No. 4/2016-Cus and Circular No. 5/2016-Cus dated February 9, 2016 Background The Special Valuation Branch (“SVB”) specializes in investigation and assessment of transactions involving special relationships between buyer-seller and certain special features surrounding the sale of imported goods having bearing...

The Transactional Net Margin Method (‘TNMM’) is a prescribed method for determining the arm’s length price in some cases. It also enjoins the adjustment owing to capacity under-utilization differences. Sizes of entities and level of activities differ, so does the available...