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If anyone contravenes the copyright in a design, s/he is liable for every offence to pay a sum not exceeding Rs. 25,000/- to the registered proprietor subject to a maximum of Rs. 50,000/- recoverable as contract debt in respect of any one design. The registered proprietor may bring a suit for the recovery of the damages for any such contravention and for injunction against repetition of the same.
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Yes, it is possible to transfer the right through assignment, agreement, transmission with terms and condition in writing or by operation of law subject to certain restrictive conditions. An application in form-10, with prescribed fees in respect of one design and appropriate fees for each additional design, for registration of the transfer documents is required to be made by the beneficiary to the Controller within six months from the date of execution of the instruments or within further period not exceeding six months in aggregate. An original/notarized copy of the instrument to be registered is required to be enclosed with the application.
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No, design means a conception or suggestion or idea of a shape or pattern which can be applied to an article or capable to be applied by industrial process or means. Example: a new shape which can be applied to a pen thus capable of producing a new appearance of a pen on the visual appearance. It is not mandatory to produce the article first and then make an application.
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Yes, Patent Office is publishing the list of facilitators who are willing to play a role in filing patent applications for start-ups and act as a patent agent on their behalf. Their fees for this purpose have also been notified. The list of facilitators is available in IPO website www.ipindia.nic.in and has also been uploaded in the Start-up Hub in DPIIT website.
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A patent specification can be prepared by the applicant himself or his registered and authorized agent. The patent specification generally comprises of the title of the invention indicating its technical field, prior art, draw backs in the prior art, a concise but sufficient description of the invention and its usefulness, drawings (if any) and details of best method of its working.
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If the applicant does not file a reply within 6 months or does not take an extension of 3 months, the application is deemed to have been abandoned.
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After grant of patent, every patentee has to maintain the patent by paying renewal fee every year as prescribed in the schedule I. for first two years, there is no renewal fee.
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An employee, any legal practitioner or any official of a registered trade union authorized in writing to act, any inspector under the Act or any person with permission of the authority can file claim under the Minimum Wages Act, 1948.
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As per the Indian labour laws, employers need to ensure that following amenities are available to their employees:
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Establishments which are covered under the exemption from furnishing return component of labour laws:
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Section 24 of the Industrial disputes Act does not bar the jurisdiction of an Industrial Tribunal to adjudicate upon a dispute relating to the fixation of wages of employees covered under the Act.
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An aggrieved employee can file a claim application requesting relief before the Authority under the Minimum Wages Act, 1948.
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No child shall be employed or permitted to work in any of the occupations set forth in Part A of the Schedule or in any workshop wherein any of the processes set forth in Part B of the Schedule is carried on.
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For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of income. This system is called as “Tax Deducted at Source”, commonly known as TDS. Under this system tax is deducted at the origin of the income. Tax is deducted by the payer and is remitted to the Government by the payer on behalf of the payee.
The provisions of deduction of tax at source are applicable to several payments such as salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. In respect of payments to which the TDS provisions apply, the payer has to deduct tax at source on the payments made by him and he has to deposit the tax deducted by him to the credit of the Government.
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Broadly taxes are collected by IRA through three means:
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Taxability in India:
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In case of bonus issue, there is no consideration which means bonus shares are issued free to existing shareholders. Section 21 of the Amended Indian Stamp Act read with sub-section 16B of Section 2 clearly indicates that stamp duty is to be collected on market value which is based on price or consideration involved.
For more information on Indian Stamp Act, 1899, click here. For more details about the amendments, refer here.
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A Company is said to be resident in India in any previous year, if:
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Taxes are collected by the Government through three means: a) voluntary payment by taxpayers into various designated Banks. For example, Advance Tax and Self Assessment Tax paid by the taxpayers, b) Taxes deducted at source [TDS] from the income of the receiver, and c) Taxes collected at source [TCS]. It is the constitutional obligation of every person earning income to compute his income and pay taxes correctly.
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Yes. A person having SEZ unit or being SEZ developer shall have to apply for a separate registration, as distinct from his place of business located outside the SEZ in the same state or union territory.
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Every person, being a CE of an international group operating in India, shall file such details in part A to Form 3CEAA. Further, such person shall also be required to file additional details as required under part B of Form No. 3CEAA if it satisfies the following criteria:
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Stamp Duty Rates w.e.f. 1st July 2020
| Instrument | Rate |
| Issue of Debenture | 0.005% |
| Transfer and Re-issue of debenture | 0.0001% |
| Issue of security other than debenture | 0.005% |
| Transfer of security other than debenture on delivery basis | 0.015% |
| Transfer of security other than debenture on non-delivery basis | 0.003% |
| Derivatives | |
| (i) Futures (Equity and Commodity) | 0.002% |
| (ii) Options (Equity and Commodity) | 0.003% |
| (iii) Currency and Interest Rate Derivatives | 0.0001% |
| (iv) Other Derivatives | 0.002% |
| Government Securities | 0% |
| Repo on Corporate Bond | 0.00001% |
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As per Section 24 of the CGST/SGST Act, the following categories of persons shall be required to be registered compulsorily irrespective of the threshold limit:
i) persons making any inter-State taxable supply;
ii) casual taxable persons;
iii) persons who are required to pay tax under reverse charge;
iv) electronic commerce operators required to pay tax under sub-section (5) of section 9;
v) non-resident taxable persons;
vi) persons who are required to deduct tax under section 51;
vii) persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise;
viii) Input service distributor (whether or not separately registered under the Act)
ix) persons who are required to collect tax under section 52;
x) every electronic commerce operator
xi) every person supplying online information and data base retrieval services from a place outside India to a person in India, other than a registered person; and,
xii) such other person or class of persons as may be notified by the Central Government or a State Government on the recommendations of the Council.
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They are the criteria needed to determine the of a product for purposes of international trade. It is important because duties and restrictions in several cases depend upon the source of imports. Rules of origin are used: to implement measures and instruments of commercial policy such as antidumping duties and safeguard measures;, whether imported products shall receive most-favoured-nation (MFN) treatment or preferential treatment, for trade statistics; for the application of labelling and marking requirements; and for government procurement.
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The export obligation under post export EPCG Scheme is equivalent to eighty five percent. (85%) of six times the amount which is the sum of applicable Basic duty of customs, additional duty of customs, Education Cess and Secondary and Higher Education Cess paid on goods imported under the said authorisation, on FOB basis, which is to be fulfilled within an export obligation period of six years from the date of issue of the said authorization. However, additional duty of customs shall not be taken for computation for the purpose of fixation of export obligation when the Cenvat Credit in respect of additional duty of customs has not been taken.
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The requirements are as follows :-
•submit an application to the Directorate General of Foreign Trade and obtain Importer and Exporter Code (IEC) number
•IEC has to be indicated in the documents filed with the Customs for clearance of the imported goods
•In the case of 100% EOUs / EPZs the importer and Exporter Code (IEC) numbers are allocated by the Development Commissioner of Export Processing Zone concerned.
•Every good imported shall be in conformity with Section 11 of the Customs Act 1962, Foreign Trade (Development & Regulation) Act 1992 read with the EXIM policy in force.
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FTAs are arrangements between two or more countries or trading blocs that primarily agree to reduce or eliminate customs tariff and non tariff barriers on substantial trade between them. FTAs, normally cover trade in goods (such as agricultural or industrial products) or trade in services (such as banking, construction, trading etc.). FTAs can also cover other areas such as intellectual property rights (IPRs), investment, government procurement and competition policy, etc.
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No, only one IEC could be issued against a single Permanent Account Number (PAN). If any PAN card holder has more than one IEC, the extra IECs shall be disabled.
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Under the LOCs, export of capital goods, plant and machinery, industrial manufactures, consumer durables and any other items eligible for being exported under the 'Exim Policy' of the Government of India can be financed.
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As announced in the Sixth Bi-Monthly Monetary Policy Statement, 2014-15 dated February 3, 2015, it has been decided to merge the Export Credit Refinance (ECR) facility with the system level liquidity provision with effect from the fortnight beginning on February 7, 2015. Accordingly, no new refinancing under the ECR will be available after February 6, 2015 and the refinancing availed up to February 6, 2015 may continue till its maturity.
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Yes, Modifications in IEC number are applied online in ANF 2A.
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In case an EOU making a product by procuring 100% raw material indigenously, then such product can be sold in the domestic market on payment of basic duty. Department of Revenue Notification No. Cicrular No. 85/2001-Cus., dated 21/12/2001, may please be seen.
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Few categories are exempted from IEC, such as:
Detailed lists of exempt categories and corresponding permanent IEC numbers are given in the section named “IEC No. Exempted Categories" in the link provided below.
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