We are a family of strong 800+ people including 470+ professionals working from 14 locations across India.
We have a rich heritage and enduring legacy which are pivotal in shaping trust, excellence, and unparalleled legal expertise, thus building a strong reputation and a trusted brand.
We started in 1985 in a single room set up by the two founders with no prior experience of working in a law firm. Both the founders had outstanding academic records and focused on their deep understanding of the law to form the foundation of the firm.
Integrity, Knowledge and Passion are the principles that resonate with every member of our LKS family and the work that we do. These values drive us to build a community of legally sound professionals and well-serviced clients.
Everything we have accomplished over the last four decades is a result of our unique way of thinking which is deeply influenced by our core values and principles that define us.
We and our professionals consistently garner appreciation for the quality of our services and the depth of our legal expertise. This consistent acknowledgment serves as a testament to our unwavering commitment to exceed expectations.
In continuation of the article published last month, shedding light on the nature and extent of Western sanctions, the article in this issue of International Trade Amicus intends to discuss some of the salient aspects of the US sanctions regime as administered by the Office of Foreign Assets Control (‘OFAC’). Discussing power of OFAC, specific bar on Specially Designated Nationals, provisions relating to allowing certain transactions through licensing, and the scope of penalties, the author elaborately also analyses the challenges to Indian businesses. According to the author, it would be advantageous to check upcoming operations in sanctioned regions to identify the recipients and owners of counterparties and clients. He also states that before moving through with a transaction involving parties based in sanctioned regions, Indian businesses operating outside of India should have a compliance monitoring system to build, enforce, and regularly update a strong sanctions compliance system…
Trade News Remedy
Corrosion-resistant steel sheet from India – Canada initiates re-investigation to update normal values and export prices
Finished Carbon Steel Flanges from India – USA issues affirmative findings in 5-year reviews for ADD and CVD
Frozen Warmwater Shrimp from India – USA issues ADD changed circumstances review - Preliminary determination that M/s. Kader Exports is successor-in-interest to Liberty Group
Frozen Warmwater Shrimp from India – USA issues notice of scheduling of full five-year review of anti-dumping duty
Glycine from India – USA issues ADD Administrative Review – Affirmative finding of sales below normal value during 1 June 2020 and 31 May 2021
Grinding media from India – Canada initiates re-investigation of the normal values and export prices
Oil country tubular goods from India – USA initiates administrative review of anti-dumping duty
Paper File Folders from India – USA initiates CVD and Less Than Fair Value investigations
Phthalocyanine pigments from India – China PR imposes anti-dumping duty after conclusion of preliminary investigation
Resin Bonded Thin Wheels from China PR – Indian Central Government decides not to impose anti-dumping duty as recommended by DGTR
Solar cells from China PR, Thailand, and Vietnam – Indian DGTR terminates anti-dumping duty investigation at the request of domestic industry
Stainless Steel Flanges from India – USA issues affirmative finding of countervailable subsidies during 1 January 2020 and 31 December 2020 and Preliminary finding of sales below normal value between 1 October 2020 and 30 September 2021
Styrene Butadiene Rubber from European Union, Korea RP & Thailand – Indian Central Government decides not to impose anti-dumping duty as recommended by DGTR
WTO NEWS
Customs valuation – India justifies ‘average’ addition of cost of transportation, handling charges and insurance in certain circumstances
India’s Quality Control Orders questioned by Canada, USA and customs territory of Taiwan, Penghu, Kinmen and Matsu
WTO Members still falling behind on subsidy notifications
WTO Members review safeguard actions on 19 products
Iron and steel – Export duty removed on specified goods
Food products (specified) – Import only though 61 specified ports and registration of foreign food manufacturing facilities, mandatory w.e.f. 1 February 2023
Milk, pork and fish and their products – Requirement of health certificate for imports, postponed till 1 January 2023
Coal, specified varieties – BCD and AIDC exemption on imports withdrawn
Coal import monitoring system – Last date for registration relaxed
Export/import in Indian Rupees – Benefit of export promotion schemes available – FTP and HoP amended to reflect RBI Circular No. 10
India-UAE Comprehensive Economic Partnership Agreement – Electronic Certificate of Origin is valid
Ratio decidendi
Valuation – Value of design engineering and site run (technical documents) when not includible – CESTAT Delhi
Handheld enterprise mobile computers, with or without SIM is classifiable as ADP machine and not as smartphone – Customs AAR
‘Viewsonic Creative Touch Interactive Flat Panel’ is classifiable under Tariff Item 8471 41 90 – Customs AAR
