Monthly Report - October-November 2022

CHAMBER IN-TOUCH

OCTOBER & NOVEMBER 2022

The Madras Chamber

The Madras Chamber of Commerce & Industry

1

12th October 2022

Courtesy visit by Representatives from Consulate General of Malaysia (Investment Section)

14th October 2022

2

3

4

Interaction Meeting with German Trade and Investment Federal Ministry for Economic Affairs(GTAI)

2nd November 2022

“Greenfield Airport : Timely Initiative to Fast Track TN’s Growth

5

8th November 2022

Arbitration Webinar Series 16: The Nuances of Stamping of Arbitration Agreement

9th November 2022

Virtual Interaction Meeting with Shri Kamlesh Varshney, Joint Secretary, TPL-1, Central Board of Direct Taxes, Ministry of Finance, Govt. of India

6

Sustainability Speaks Series 5 : Sustainable Financing

18th & 19th November 2022

7

All India Workshop on GST

8

Interaction Meeting with Malaysian Delegates

Programs - October 2022

12th October 2022

Courtesy visit by Representatives from Consulate General of Malaysia (Investment Section)

(Consul - Investment) Mr Wan Ahmad Tarmizi Idris (Trade Commissioner) and Mr Ramaneedharan (Trade Officer) represen�ng the Consulate General of Malaysia met Mr. T.R.Kesavan, President and Mr. Ramkumar Shankar, VP of the Chamber at the MCCI Conference room on 12th October 2022. They discussed about the business opportuni�es post pandemic in Malaysia and expressed their interest to bring in a delega�on from Malaysia to Chennai to strengthen the trade rela�ons between Malaysia and Tamil Nadu.

14th October 2022

Interaction Meeting with German Trade and Investment Federal Ministry for Economic Affairs(GTAI)

Ms. Seema Bharadwaj, Director – India(GTAI) had a mee�ng with Mr. T.R.Kesavan, President of the Chamber at the MCCI Conference room on 14th October 2022 to introduce GTAI which promotes business opportuni�es in Germany.

General Commi�ee Mee�ng

The General Commi�ee mee�ng was held on 8th October 2022.

Other Mee�ngs

A�er the GC mee�ng on 8th October 2022, a discussion was held on the customs valua�on of imported goods led by Mr. K. Vaitheewaran and Mr. J. Krishnan with select members. Based on the inputs, a representa�on was sent to the GST Council.

Programs - November 2022

2nd November 2022

Greenfield Airport : Timely Initiative to Fast Track TN’s Growth

Corpora�on Ltd. jointly conducted a Program on “Greenfield Airport : Timely ini�a�ve to Fast Track TN’s Growth”

Mr.T.R. Kesavan welcomed the dignitaries and the gathering.

Ms. Mallika Srinivasan, Chairman & Managing Director, TAFE Ltd. & Member, State Planning Commission, Government of Tamil Nadu in her special address stated that the greenfield airport is a long-awaited ini�a�ve and an important development for the State. She added that an airport that is well located and integrated into a larger mul� modal hub is a life changing development.

Hon’ble Minister. Thiru. Thangam Thennarasu, Minister for Industries, Investment, Promo�on & Commerce, Government of Tamil Nadu in his keynote address, stated that the Chennai Interna�onal Airport will co-exist with the greenfield airport at Parandur. He further stated the exis�ng airport will get saturated in the next 10 years and hence there is a necessity to have a greenfield airport. The Parandur project is also cri�cal for the State to achieve the target of $1 trillion economy.

In the Technical Session, Mr. Kapil Kaul, CEO & Director, Centre for Asia Pacific Avia�on India

Pvt.Ltd., (CAPA), New Delhi made a presenta�on on Avia�on Perspec�ve – Need for new Airport. Ms. Tulsi N Mirchandaney, Managing Director, Blue Dart Avia�on Ltd., addressed on the Industry perspec�ve – cargo focus. Mr. P. Balasubramanian, Founder & CEO, Air Cargo Consultancy Interna�onal Services shared his thoughts on the airlines perspec�ve and Ms.T.Devaki, Regional Chairperson – Southern Region, Travel Agents Associa�on of India shared the challenges faced by the passengers.

Mr. S. Krishnan, IAS Addi�onal Chief Secretary to Government, Industries, Investment, Promo�on & Commerce Dept., Government of Tamil Nadu in his address about the Government’s perspec�ve stated that major ci�es such as Tokyo and Taipei have two airports and Chennai can have two airports. The connec�vity between the old and new airport should be addressed and he added that talks will be held with the Metro to look at connec�vity.

A�er the open house, Ms.Jayashree Muralidharan, IAS, Managing Director, TIDCO proposed the vote of thanks. Around 75 delegates joined this program and the feedback was posi�ve.

8th November 2022 4

Arbitration Webinar Series 16: The Nuances of Stamping of Arbitration Agreement

(MAMC) organized the Sixteenth Arbitra�on virtual Webinar Series on the topic “The Nuances of Stamping of Arbitra�on Agreement”. Ms.Ananya Agarwal, Principal Associate, Shardul Amarchand Mangaldas & Co addressed the session. 30 Par�cipants joined this virtual webinar and gave a posi�ve feedback.

9th November 2022 5

Virtual Interaction Meeting with Shri Kamlesh Varshney, Joint Secretary, TPL-1, Central Board of Direct Taxes, Ministry of Finance, Govt. of India

The Chamber under the auspices of the Direct Taxes Commi�ee organized a virtual Direct Taxes, Ministry of Finance, Govt. of India to discuss on the Pre Budget-Memorandum to be submi�ed by the Chamber. Around 30 Direct tax commi�ee and members par�cipated in the session and sugges�ons/recommenda�ons of the Direct Tax commi�ee was discussed in detail.

9th November 2022 6

Sustainability Speaks Series 5 : Sustainable Financing

The Sustainability Speaks Series Talk #5 was scheduled virtually on 9th November 2022. Ms Neha Kumar, Head-India Program, Climate Bonds Ini�a�ve addressed on the topic “Sustainable Financing”. Around 40 par�cipants joined the session and the feedback was good.

18th & 19th November 2022

All India Workshop on GST

Mr Srivats Ram, Immediate Past President, MCCI & Managing Director, Wheels India Ltd. welcomed the guests and the par�cipants.

Mr Mandalika Srinivas, IRS, Principal Chief Commissioner of Central Excise & GST, Tamil Nadu & Puducherry was the Chief Guest. In his address, he informed that there has been a rise of collec�on of GST in Tamil Nadu by 28% and stated that for the income during October 2022 was Rs. 62000 crores. He further stated that the �me period for refunds has been reduced in the recent �mes and added that ac�on taken will be stringent for those who do not pay their GST.

Mr.R.Gopakumar, Co-Chairman, MCCI – GST Commi�ee proposed the vote of thanks.

Around 110 par�cipants took part in this workshop.

In the technical sessions, the topics dealt includes :

Scope of supply -

Valua�on under CGST Act, 2017 Input Tax Credit

Construc�on & Works Contract

The Chamber’s flagship ac�vity of GST Workshop has been organized under the auspices of the GST and Direct Taxes commi�ee on 18th & 19th November 2022.

GST @ 5 – Benefits, Challenges & Expecta�ons

Customs & GST

Landmark Decisions in Indirect Taxes & their applica�on to GST

Place of Supply : Concept / Issues and Challenges

Economic Criminal Laws & GST

Jobwork under GST

Zero-rated Supply

Overlap between Accoun�ng, Direct Taxes and Indirect Taxes.

And the speakers/experts were as follows:-

Mr. K. Vaitheeswaran, Advocate, Madras High Court & Chairman, MCCI – GST Commi�ee

Mr. B. Sriram, Partner, Ernst & Young LLP

Ms. Saradha Hariharan, Chartered Accountant & Partner, GGSH & Co LLP

Mr. R. Anand, Head Indirect Taxes, IR & Admin, Larsen & Toubro Ltd. Power Transmission Division

Ms. Bargavi Natesan, Senior Partner & SPR & Co., Charted Accountants

Mr. G. Raghushankar, Director, ICSA Holdings Pvt. Ltd.

Mr. C.V.S. Krishnakumar, Director, Corporate Affairs, Kone Elevators India Pvt. Ltd.

Mr. Prakash Challa, Chairman and Managing Director, SSPDL

Mr. Suresh Raman, Vice President and Region Head, Tata Consultancy Services

Mr. J. Krishnan, Partner, Natesa Iyer Logis�cs LLP

Mr. V. Raghuraman, Senior Advocate, Supreme Court

Mr. A.R. Krishnan, Chartered Accountant, Mumbai.

Dr. M.R. Venkatesh, Advocate, Delhi High Court

Mr. K.K. Sekar, Advocate and Tax Consultant

Mr. R.G.Rajan, Chartered Accountant

Mr. Arun Kumar Rajagopalan, Partner, Price Waterhouse Chartered Accountants LLP

Mr. Raunak Chordia, Partner, Price Waterhouse & Co., LLP

Mr. K. Vaitheeswaran, Advocate & Tax Consultant

22nd November 2022

Interaction Meeting with Malaysian Delegates

Shukor had an interac�on mee�ng with the representa�ves from the Chamber. The chamber exchanged a LoU with Persatuan Pengilang & Industri Perkhidmatan Bumiputera for promo�on of trade between the two regions.

The General Commi�ee mee�ng was held on 12th November 2022. Interac�on Mee�ng with Government Representa�ves –Ms. Innocent Divya IAS, Managing Director, Tamil Nadu Skill Development Corpora�on. addressed the members of the GC and select EC Members for an hour on 12th November 2022 a�er the GC Mee�ng.

Launch of the 2022 edi�ons of Britain meets India and India meets Britain was organized by Bri�sh Deputy High Commission on 28th November 2023. Ms K Saraswathi, Secretary General a�ended the event.

8th November 2022 – Direct Taxes Commi�ee

10th November 2022 – Company Law / Corporate Ma�ers Commi�ee

General Commi�ee Mee�ng

Expert Commi�ee Mee�ng

Other Mee�ngs

Chamber in the Media

Greenfield

Airport : Timely Initiative to Fast Track TN’s Growth

Greenfield Airport : Timely Initiative to Fast Track TN’s Growth

All India Workshop on GST