PRODUCTION LINKED INCENTIVE (PLI) SCHEME FOR FOOD PROCESSING INDUSTRIES:
INTRODUCTION: The government of India has approved a new Central Sector scheme – “Production Linked Incentive Scheme for food Processing Industries” to support the creation of global food manufacturing commensurate with India’s natural resource endowment and support Indian brands of food products in the international markets with an outlay of RS.10,900 Crore. The food processing […]
THE PRODUCTION LINKED INCENTIVE(PLI) SCHEME FOR PROMMOTING DOMESTIC MANUFACTURING OF WHITE GOODS (AIR CONDITIONERS & LED LIGHTS)
INTRODUCTION: The Department for Promotion of Industry and Internal Trade (DPIIT) on Friday said it will provide incentives worth Rs 6,238 crore over a period of five years for manufacturing white goods–air conditioners (ACs), LED lights–in India, a part of its production-linked incentive (PLI) scheme. The scheme will be effective from the date of its […]
COMPLIANCES DUE WITH MCA AND STOCK EXCHANGES FOR THE MONTH OF JUNE, 2021 (EXCEPT FOR EVENT BASED COMPLIANCE)
The below is the compliance calendar for the compliances due with Ministry of Corporate Affairs (“MCA”) for the month of June 2021: SI. No Compliance Purpose of the E-form Rules/ Regulations/ Acts/ Scheme etc. Due Date 1 Filing of e-Form no DPT-3 To file return of deposit or particulars of transaction not considered as deposit […]
CHANGE IN FORMAT OF COMPLIANCE REPORT ON CORPORATE GOVERNANCE REPORT
Securities Exchange Board of India (‘SEBI’) vide its Circular reference no SEBI/HO/CFD/CMD-2/P/CIR/2021/567 dated May 31, 2021, has notified amendment in the quarterly format of Compliance report on Corporate Governance to be submitted by listed entities. As per the Regulation 27 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified from time to […]
GOVERNMENT ISSUES OPERATIONAL GUIDELINES FOR PLI SCHEME FOR PHARMACEUTICAL INDUSTRY:
The government launched the scheme to encourage the pharmaceutical industry to enhance its manufacturing capabilities, diversify the product mix to complex generics, patented drugs, going up the value chain, bringing investment, and creating global champions out of India. A new PLI scheme was notified by the government on March 3, 2021. The new scheme is […]
Recommendations of 43rd GST Council meeting dated: 28th May, 2021
The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing on 28th May, 2021. The GST Council has made the following key recommendations relating to changes in GST rates on supply of goods and services and changes related to GST law and procedure: COVID-19 […]
The Government has further enlarged the scope of Emergency Credit Line Guarantee Scheme
On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy, the Government has further enlarged the scope of the Emergency Credit Line Guarantee Scheme as under: ECLGS 4.0:100% guarantee cover to loans up to Rs.2 crore to hospitals/nursing homes/clinics/medical colleges for setting up […]
MCA clarification on offsetting the excess CSR spent on “PM CARES Fund” for FY 2019-20
The Ministry of Corporate Affairs (“MCA”) vide a Circular dated 20.05.2021 (“aforesaid circular”) has issued a clarification for offsetting the excess Corporate Social Responsibility (“CSR”) contribution spent for FY 2019-20. The MCA has clarified with the aforesaid circular for setting off the excess CSR amount spent by the companies in FY 2019-20 by way of […]
Computation of Fair Market Value (FMV) of Capital Assets for the purposes of Slump Sale under section 50B of the Income Tax Act, 1961
In simple words, ‘slump sale’ is nothing but a transfer of a whole or part of a business concern as a going concern. As per section 2(42C) of Income -tax Act 1961, ‘slump sale’ means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values […]
RODTEP Scheme (Remission of duties and Taxes on export products)
About: RoDTEP stands for Remission of Duties and Taxes on Export Products. It is a new scheme that is applicable with effect from January 1st, 2021, formed to replace the existing MEIS Scheme. The scheme will ensure that the exporters receive refunds on the embedded taxes and duties previously non-recoverable. Benefits of RoDTEP Scheme: Refund […]