30 Oct 2014

The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India, through a press release dated 22nd October 2014 announced setting up an IPR Think Tank to draft a National Intellectual Property Rights Policy and to advise it on IPR issues. The committee will also give its views/opinions on possible implications of demands placed by negotiating partner countries. This becomes essential especially when India and the US are trying to find a common ground on the prickly IPR issues in the working group to be set up under the bilateral trade policy forum.>>

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25 Aug 2014

The Government of India, vide its notification dated 1st August 2014 has amended the existing Trademark Rules, 2002, and the amended Rules are now referred to as the ‘Trade marks (Amendment) Rules, 2014’. The proposed amendments were initially notified and made available to public on 26th August 2013 inviting objection and suggestions from the public likely to be affected. Since, no objections or suggestions were received by the Govt. of India the proposed amendment were accepted and subsequently notified.>>

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23 Jul 2014

“Every tax ought to be so contrived as both to take out and keep out of the pockets of the people as little as possible over and above what it brings to the public treasury of the state” wrote Adam Smith in The Wealth of Nations (Book V, Chapter II, Part II).Taxes are a critical component of any government’s revenue. Hence, the rates and collection mechanisms must be judicious so that taxpayers are not overburdened. That alone will ensure improved tax collections- which is one of the avowed objectives of the transition to a GST regime.>>

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15 Jun 2014

The service sector accounts for more than 50% of India’s GDP and hence the study of tax on services is of great relevance. As and when it comes into effect, the GST regime is expected to subsume service tax. Therefore, issues in the present scheme of things under service tax may impede functional efficiency of the new GST regime.>>

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