Lakshmikumaran and Sridharan attorneys

We are pleased to share that Lakshmikumaran & Sridharan Attorneys (LKS) participated in the 7th Taxsutra Conclave 2024, themed "International Tax Reforms: Mission Accomplished?" The event was held on 20-21 November 2024 at The Oberoi, Gurgaon, and brought together leading experts to deliberate on the evolving global tax landscape.   Our Executive Partner, Mr. L. Badri Narayanan, delivered an engaging address on the topic: "Litigation, Assessment, and Powers of Authority: Lessons from the Apex Court."   The session offered practical insights, balancing compliance needs with strategic tax decisions amidst international tax reforms.   Check out glimpses of the event below!   #TaxsutraConclave #TaxLitigation #InternationalTaxReforms #TaxCompliance #LegalInsights 

We are delighted to announce that Lakshmikumaran & Sridharan Attorneys (LKS) will participate in the 7th Taxsutra Conclave, themed "International Tax Reforms: Mission Accomplished?". The session, titled "From Uncertainty to Strategy: Transforming Tax Decisions in the Uncertain GST Era," will feature a few of our distinguished professionals: Moderator: SHIVAM MEHTA, Executive Partner, LKS Speakers: Gaurav Khurana, EVP, Tax, Jindal Steel & Power Limited Arun Gulati, Assistant General Manager, Customs and Indirect Taxes, BMW India Aditya Gupta, India Tax Lead, Mondelēz International Karanjot Singh, Partner, LKS Join us for an intriguing conversation focusing on approaches and practical solutions to navigating GST complexities. #TaxSutraConclave #GST #TaxStrategy #LKS

VISHWANATH K, Partner, Akshi Narula, Principal Associate, and Neha Dayananda, Senior Associate, co-authored an engaging article titled "Is conditional waiver u/s 128A of the Act, 2017 too conditional?" published by TIOL PRIVATE LIMITED.   The article delves into the conditional waivers introduced by the 53rd GST Council meeting under Section 128A, aimed at easing compliance and reducing litigation for tax demands under Section 73 (FY 2017-20). However, it highlights critical challenges, including: 1. Non-insertion of corresponding provisions in State GST Laws, 2. Mandatory payments for periods beyond the waiver, and 3. Procedural hurdles like pre-deposit adjustments.   These complexities risk undermining the relief intended by the waiver. The authors stress the need for practical solutions to ensure taxpayers truly benefit from this provision.   Read the full article here - https://lnkd.in/gpAQ5BcY #taxation #Taxpayers #conditionalwaiver #GST #Goodsandservicetax #Litigation

We are hiring for Long Term Law Interns for multiple locations To apply, please write to: Careers@lakshmisri.com.

The Biological Diversity Act, 2002 (BDA, 2002), was enacted with the objective of conservation and sustainable use of biological resources. Over the years, several concerns were raised by stakeholders with respect to the stringency of compliance imposed by BDA 2002. To address these concerns, the Biological Diversity (Amendment) Act, 2023 (BDA, 2023) came into force on April 01, 2024.   Our Practice Head, Dr. Malathi Lakshmikumaran, Executive Director for IPR and Life Sciences, and Ms. aashmeen kaur, Senior Patent Analyst have put together the key takeaways and shared their insights on the matter.    **This presentation is for informational purposes only and should not be construed as legal advice.** #BiodiversityIndia #BiologicalDiversityAct #IndiaBiodiversityAct #BiodiversityAmendment

Our Associate Partner, Sahana Rajkumar and Principal Associate, Derlene Joshna, have co-authored an article titled - The ‘As Is Where Is’/ ‘As Is’ Enigma – An Analysis, published in Taxmann.   The article examines the GST Council's approach to resolving tax ambiguities by regularizing past trade practices on an "as is where is" or "as is" basis, as clarified in Circular No. 236/30/2024-GST. While the circular defines these phrases to mean accepting prior tax positions without refunds for overpaid taxes, issues like pre-deposit payments and varying tax positions remain unresolved.   The authors discuss the Gujarat High Court’s decision in J.K. Papad Industries v. Union of India, which upheld taxpayers' prior tax positions under this regularization. They call for clearer guidelines to ensure consistent application and reduce potential disputes.   Read here the full article - https://lnkd.in/g4_F2fv2 #GST #Taxation #GSTCouncil #TaxAmbiguities #TaxPolicy #Taxmann #AsIsWhereIs #AsIs #GujaratHighCourt #JKPapadIndustries #TaxRegulations #TaxPosition #LegalInsights #TaxPractice #TaxDisputes #LegalOpinions #Circular236 #TaxLaw #TaxGuidelines

LKS wishes a Happy Guru Nanak Jayanti to everyone! #Festivalgreetings #Greetings #Gurunanakjayanti

LKS monthly newsletter, International Trade Amicus for October 2024, is live. #LKSNewsletter #Newsletter #LinkedInNewsletter #InternationalTrade #WTO

LKS along with the global law firm Baker McKenzie is conducting seminar series to empower the Indian industry on expanding their market in the EU and beyond.    Thought leadership topic covered: a. Changes in the EU Customs law b. Carbon Border Adjustment Mechansim (CBAM) c. Corporate Sustainability Due Diligence Directive d. Sanctions and Export Controls e. Free Trade Agreements and Rules of Origin f. Bureau of Indian Standards and Quality Control Orders   SCHEDULE   Session 1: 10 AM to 11:15 AM Speaker: Mr. V. Lakshmikumaran, Managing Partner, LKS   Session 2: 11:30 AM to 12:45 PM Speaker: Mr. Jan Snel, Partner & Lionel Van Reet, Partner, Baker Mckenzie   NOTE: RESERVED EXCLUSIVELY FOR CORPORATE LEADERS

Hon’ble Supreme Court allows revenue’s review petition on DRI’s jurisdiction to issue show cause notice under section 28 of the Customs Act 1962. Argued by Mr. V. Lakshmikumaran, assisted by Mr. S Vasudevan, Ms. Charanya Lakshmi Kumaran, Ms. Apeksha Mehta, Ms. Umang M., Mr. Dhruv Matta and Mr. Rachit Jain [Commissioner of Customs vs. Canon India Private Limited] – Judgment pronounced on 07.11.2024.