Author Archives: Lindsay Griffiths

ILN Today Post

GST UPDATE: GUIDELINES FOR VERIFICATION OF TRANSITIONAL CREDIT

The Government of India overhauled the indirect tax structure and implemented the goods and services tax (“GST”) many years ago but its execution especially with regard to transitional credit has been shaky and subject to various writ petitions and other litigations across India. Fortunately, the issue related to carrying forward of credit from the erstwhile service tax regime to GST was resolved by the recent verdict of the Supreme Court in the case of “Union of India & Ors V. Filco Trade Center Pvt. Ltd & Anr 1.

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New BIS Policy Cracks Down on Uncooperative Foreign Governments With Broad Implications for Parties Trading in Goods Subject to EAR

The U.S. Department of Commerce Bureau of Industry and Security (“BIS”) is cracking down on foreign governments that prevent the end-use checks the BIS uses to ensure compliance with Export Administration Regulations (“EAR”).

BIS’s mission is broad, explains the Assistant Secretary for Export Enforcement, Mathew Axelrod: to “protect sensitive American goods from falling into the wrong hands.”[1] End-use checks are one method used in carrying out this mission, and recent policy updates announced by BIS emphasize the significance of end-use checks and the consequences exporters may face if they are not in timely completed. Read more…

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USTR Accepting Comments on China Section 301 Tariffs Beginning November 15th

The Office of the United States Trade Representative (“USTR”) is conducting a review of the China Section 301 tariffs that were put into place in 2018 under the Trump administration.

The USTR is required to review its tariffs every four years pursuant to Section 307(c) of the Trade Act of 1974 (“Trade Act”).[1] A notice in May of this year called for input from domestic industries that would benefit from the continuation of the tariffs.[2] Read more…

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Llinks Bulletin: New Competence-Competence in China: A Review of the Draft Revised PRC Arbitration Law

This article aims to introduce the recent development of the competence-competence doctrine in China. The proposed modification of the PRC Arbitration Law seems to have adopted the UNCITRAL Model Law approach, which will bring about a fundamental change in this regime and make Chinese arbitration practice more consistent with international practice.  Read more…

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DEAL UPDATE

Ahlawat & Associates’ (“A&A”) has advised Lotus Holdings (hereinafter referred to as the “Investor”), in its strategic investment in Yogicsecret Healthcare Private Limited (hereinafter referred to as the “Company”) in the seed round of investment raised by the Company.

The Company, with its registered office in Gurgaon, is engaged in the business of marketing nutraceutical products for the healthcare of consumers by providing them with a range of herbal supplements aimed at maintenance of their robust well-being and promote optimal safeguard against ailments. The Company offers a preventive and remedial approach to the prevalence of modern illnesses driven by lifestyle, behaviour and choices. Their products are designed per the customers’ needs, backed by clinical studies, scientific rationale, patented ingredients and technology. The key USP of their nutraceuticals are safe for daily consumption and can effectively prevent disease onset or avert an acute condition from turning chronic. Read more…

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CENTRAL BANK DIGITAL CURRENCY IN INDIA

In a world where everything is at your fingertips, users now expect quicker and easier payments from any location at any given point in time. In the field of payment and settlement systems, India has always been a nation that has encouraged innovation and growth. Numerous payment mechanisms have been developed over the years for the convenience of the common man. Owing to such convenience, these payment systems were quickly preferred as they provided consumers an alternative to the use of cash.

With the aim to reduce dependency on cash, create an open and inclusive system and to meet the expectations of the modern digital economy of India, the Reserve Bank of India (“RBI”) intends to introduce a new form of money viz. Central Bank Digital Currency (“CBDC”). Through a concept note on CBDC published in October 2022, RBI has broadly defined CBDC as the legal tender issued by a central bank in a digital form. It shall be the sovereign currency holding exclusive advantages such as security, trust, liquidity, finality of settlement and veracity. Read more…

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Newsletter #15 – November 2022

EU LAW & DIGITAL ECONOMY

We are pleased to share with you our Newsletter of November 2022:

COMPETITION LAW 

Read more…

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Enclaved Purchasers

Did you know that the right of all purchasers who did not lodge and/or submit their sale contract or assignment agreement before the District Land Office lapses on 31.12.2022?

The recent legislation is judged to be fair as it is undoubtedly a significant step for the protection of the purchasers who have fully paid the agreed purchase price according to their sale agreement and have not yet receive the separate title deed of their immovable property for reasons beyond their control.

The legislator in an attempt to further help and assist those purchasers who have not filed their sale agreement or their assignment agreement before the District Land Registry has set the deadline for filing an application with the Court on 31.12.2022. Read more…

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Newsletter – October 2022

I. EDITORIAL – THE COVID-19 DISEASE PANDEMIC; LAW NO. 19/2022, OF OCTOBER 21

The month of October was characterised, in legislative terms, by the publication of theResolution of the Council of Ministers no. 96/2022, of October 24, which determines the termination of validity of resolutions of the Council of Ministers published in the context of the pandemic disease COVID-19 and by the publication of the Law no. 19/2022, of October 21, which determines the rent updating coefficient for 2023, creates an extraordinary support for renting, reduces VAT on electricity supply, establishes a transitory regime for updating pensions, establishes a regime for the redemption of savings plans and determines the unseizability of family supports. Read more…

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InsightsExport Controls on Chips to China Typify the Biden Administration’s National Security Strategy for Outcompeting China

On October 7, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) announced a major new rule that restricts the ability of the People’s Republic of China (“PRC” or “China”) to obtain advanced computing chips, develop and maintain supercomputers, and manufacture advanced semiconductors.[1] That same day, BIS published a press release summarizing the updates, and, a few days later, U.S. National Security Advisor Jake Sullivan commented on the strategic intent underlying BIS’s actions.[2] Read more…

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