Monthly Report - July 2021

MCCI

The Madras Chamber

MONTHLY REPORT JULY 2021

The Madras Chamber of Commerce & Industry

MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

SCHEDULE OF VIRTUAL PROGRAMS - JULY 2021

1 3

Interac�ve Session on GST@4 2nd July 2021

Panel Discussion on New Rules under TDS,TCS and the Technical Challenges

7th July 2021

5

Transla�ng the INDIA-EU Trade enhancement and Connec�vity plan in to ac�on

7

Presenta�on on Securi�es and Exchange Board of India (Delis�ng of Equity Shares) Regula�ons 2021

9

Virtual Session on Women Leadership Coffee Connect

9 July 2021 th

15th July 2021

23rd July 2021

General Commi�ee Mee�ng

2

Session on “Stress Management” for the Faculty Members in Educa�onal Ins�tu�ons

4

11th Arbitra�on series: Discovery in interna�onal arbitra�ons

6

Webinar on Dispelling the Myths about Roo�op Solar

8

Training Session on Enhancing Energy Efficiency in motors and motor systems for Industries

10

Session on HS Code 2022

7th July 2021

8th July 2021

14th July 2021

16th July 2021

30th & 31st July 2021

Expert Commi�ee Mee�ng

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MCCI

MONTHLY REPORT - JULY 2021

1

The Madras Chamber

Interac�ve Session on GST@4 2nd July 2021

The Goods and Service Tax was rolled out in India on 1st July 2017 subsuming a plethora of taxes into a single tax and it was referred to as the “Good and Simple Tax”. It has been considered as a path breaking reform in the tax structure.

As we entered the 5th year of GST, the chamber under the auspices of the GST Expert Commi�ee organized the Session on “GST @ 4”

on

2nd July, 2021 to

understand the road we had travelled so far and the road ahead.

Mr Srivatas Ram, President MCCI welcomed the speakers and par�cipants and stated that ever since GST was introduced, there have been con�nuous flow of amendments and changes, keeping every stakeholder including the Government on their toes. This interac�ve session was organized with the GST Commissionerate to understand the road travelled and what is ahead for us with an exclusive focus on interac�on between the par�cipants and the officials Mr.K.Vaitheeswaran, Advocate & Tax Consultant and Chairman, MCCI GST Commi�ee set the context for the session and introduced the Chief Guest. He highlighted the issues faced by Industry and customers. He emphasized on the rates and stated though GST benefit the industry and customer the economic and business reforms is missing and lot more focus and inclusion can be brought in. He added that GSTN has travelled a long way and it is proud to see government recognizing the genuine tax payers.

Mr. K.M.Ravichandran, IRS, Commissioner of GST & Central Excise, South Commissionerate, Chennai briefly addressed and introduced his team.

Dr K Manoharan Superintendent, Chennai South Commissionerate made a detailed presenta�on covering the important mo�ves behind GST reform and elaborated on one na�on one tax. GST Filing, returns, refund and Seamless flow of credit to eliminate the cascading effect of the taxes was explained and he shared the GST Seva Kendra,Chennai contact details and requested members to approach him for any GST related issues .

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

Mr. K.M.Ravichandran, IRS, Commissioner of GST & Central Excise, South Commissionerate, Chennai elaborated on the journey of GST. He further highlighted important reforms made in terms of Trade Facilita�on measures like increase in turn over limits, cross u�liza�on IGST, CGST and ITC, cu�ng cost of compliance in terms of QRMP. He also briefed about the launch of provision for paying nil returns through SMS facility and elaborated the other measures namely waiver of late fee, ra�onaliza�on of cash ledger, enforcement e way bill system, HSS code mandatory and e Invoicing.

He informed that going forward, the agenda is to bring in the stability in terms of GST collec�ons, to bring down the mul�plicity of GST rates and to reduce the slabs rates at the extent possible. The primary focus is to curtail the inconsistence in filing GST returns and fake invoice issue. The other thought process is to include petro products under GST and he added this may reduce the infla�onary measures and finally suggested inverted duty structure need more course correc�on.

Followed by the address and presenta�on we had the Q&A session Mr.R.Gopakumar Associate Director, Cognizant Technology Solu�ons Pvt.Ltd and Co-Chair, MCCI GST Commi�ee moderated the session wherein the par�cipants raised the queries related to refund, HSS code, non-filing and the queries were clarified jointly by Commissioner and the Superintendent.

More than 85 par�cipants took part in the interac�ve session and the feedback was posi�ve.

2

Session on “Stress Management" for the Faculty members in Educa�onal Ins�tu�ons

7th July 2021

This pandemic has affected most of the industries and especially the educa�onal sector. Faculty, like educators everywhere, are expressing concerns about their ability to provide instruc�onal, academic, and emo�onal support to students, adapt to online teaching environments, maintain research, grant and publica�on ac�vity while managing personal, child, and some�mes extended familial care.

Though ins�tu�ons are responding to faculty concerns, there are several overarching concerns.

In this background, the Chamber under the auspices of the Educa�on Commi�ee organized a session on stress management for the faculty members in educa�onal ins�tu�ons on July 7, 2021.

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

Ms .K .Saraswathi , Secretary General , anchored the session.

Mr. R.M. Kishore , Chairman, Educa�on Commi�ee, MCCI & Vice – Chairman, RMK Group of Ins�tu�ons gave the welcome address . He highlighted the changing dynamism in educa�on sector and informed going forward norms of educa�on would be blended model and urged all educa�on ins�tu�ons to adapt to the changes.

Dr. M. Jaya Assistant Professor & Head, ASAN Memorial College of Arts and Science, introduced the Speaker Dr. Hema Tharoor, Senior Consultant & Psychiatrist, Apollo Spectra, Alwarpet, Chennai Dr Hema Tharoor addressed the session. She emphasized on the point being mindfulness of what we do and not to be judgmental. She elaborated on the changing teaching methods and how it creates anxiety in the minds of teachers. She explained about the virtual engagement tac�cs such as ac�ve learning, virtual collabora�on and gamifica�on and added these tac�cs will aid new learning norms .

Blended learning approach to educa�on that combines online educa�onal materials and opportuni�es for interac�on online with tradi�onal place-based classroom methods will con�nue to exist and teachers have to adapt to the new ways of teaching. Tips for success in online classes and Health �ps for teachers were explained in detail and emphasized to reimagine educa�on and build a system that is Equitable, Effec�ve and Resilient.

She concluded with the point highligh�ng the need for self-care and ways to deal with burnout issues.

In the Q and A Session, ques�ons related to online teaching gaps, collabora�ve par�cipa�on and interac�on and counselling were raised and queries were answered by Dr Hema Tharoor.

Vote of thanks was rendered by Dr Uthira , Vice Principal , MOP Vaishnav College for Women.

We had an overwhelming par�cipa�on since it was a need of the hour topic. More than 200+ Facul�es across ins�tu�ons par�cipated and the feedback was very posi�ve.

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Panel Discussion on New Rules under TDS,TCS and the Technical Challenges 7th July 2021

The Finance Act 2021 had brought the following changes with effect from 1st July 2021 in respect of TDS/TCS Provisions.

1. Sec 194Q - Deduc�on of tax at source on payment of certain sum for purchase of goods 2. Sec 206AB - Deduc�on of tax at source for non-filers of Income tax return 3. Sec 206CCA - Collec�on of tax at source for non-filers of Income tax return To understand the above provisions, compliance, procedural & technical issues, the Chamber under the auspices of the Direct Taxes Commi�ee organized the panel discussion.

Ms. K. Saraswathi, Secretary General gave the welcome address and introduced the panelists.

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

Mr. Aravind Srivatsan, Partner, Nangia Andersen Co LLP and Chairman Direct Taxes Expert commi�ee set the context for the panel discussion.

The Panelists were • Mr .Ganapathy Subramanian Director Tax for India and Asia Pacific, Danfoss India.

• Mr Venkatesh DGM Taxa�on, Sundaram Finance Ltd. • Mr .K Srinivasan, DGM Corporate Taxa�on, Ashok Leyland Ltd. • Mr. C. Sathia Jeeva Krishnan, Advisor - Direct Taxa�on, Mumbai.

Mr. C. Sathia Jeeva Krishnan, Advisor - Direct Taxa�on, Mumbai made a brief presenta�on highligh�ng the key changes and impacts. This was followed by a structured Q&A session.

Queries from our members were collated related to TDS, TCS and other sec�on implica�ons and same was posted to the panelists. Mr. Aravind Srivatsan , Partner , Nangia Andersen Co LLP and Chairman Direct Taxes Expert commi�ee and Mr. Vikram Vijayaraghavan , Advocate , Subbaraya Aiyar Padmanabhan & Ramamani Advocates and Co Chairman Direct Taxes Expert commi�ee moderated the Q&A Session and the queries were answered by the panelists.

The program was a�ended by more than 115 members and the feedback was posi�ve.

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11th Arbitra�on series: Discovery in Interna�onal Arbitra�ons 8th July 2021

The Chamber under the auspices of the MCCI Arbitra�on, Media�on and Concilia�on Centre organized the Eleventh arbitra�on series on the Topic “Discovery in Interna�onal Arbitra�ons on 8th July 2021.

Ms. Madhumathi.C, Registrar of Arbitra�on Centre gave a brief introduc�on about the Chamber and the Arbitra�on Centre and introduced the speaker Mr. Ramesh Selvaraj, Co-Deputy Head of Interna�onal Arbitra�on Prac�ce, Allen and Gledhil LLP, Singapore This series was an Interac�ve Q&A model session where ques�ons related to Interna�onal Arbitra�on were addressed by the speaker Mr. Ramesh Selvaraj, Co-Deputy Head of Interna�onal Arbitra�on Prac�ce, Allen and Gledhil LLP, Singapore . Mr.Anirudh Krishnan, Founding Partner, A K Law Chambers moderated the Q&A Session.

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

The Interac�ve session covered the ques�ons related to discovery and document produc�on feature in the lifecycle of an interna�onal arbitra�on, the scope of discovery in arbitra�on compared with discovery in domes�c court li�ga�on, arbitrator/arbitral tribunal order, par�es to disclose documents , consequences for a failure to produce documents and electronic documents and e-discovery.

Ms. K. Saraswathi ,Secretary General proposed the formal vote of thanks.

The program was well a�ended by more than 33 par�cipants and the feedback was posi�ve.

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Transla�ng the INDIA-EU Trade enhancement and Connec�vity plan in to ac�on

9th July 2021

The Antwerp Port Authority in partnership with the Madras Chamber of Commerce & Industry organized a virtual interac�on on “Transla�ng the INDIA-EU Trade enhancement and Connec�vity plan in to ac�on” on Friday, 9th July 2021. The bilateral rela�onship between MCCI and Antwerp Port Authority is over a decade old which was highlighted by Mr. Srivats Ram, President, MCCI in his opening remarks.

The interac�on was organized against the backdrop of the India-EU leaders mee�ng held on 8th May which was led by Prime Minister Narendra Modi and the heads of EU members states and EU representa�ves. The objec�ve behind this session was to share insights and ideas on strengthening trade between the India-EU corridor with the Port of Antwerp, Europe’s leading economic actor, having an ac�ve role to play.

Mr. Luc Arnouts, Vice President Interna�onal Rela�ons, Antwerp Port Authority emphasized in his address the importance of “Just in Case” as against “Just in Time” as a more likely approach for supply chain managers to consider in today’s global trade disrup�on �mes. He specifically highlighted how Antwerp Port can present itself as the nearshoring venue for centralized stocking & distribu�on point for Indian mari�me cargo exported across Europe and the UK, against the background of its excellent connec�vity to markets and ample warehousing at a�rac�ve rates. He introduced the concept of the “India hub at the Port of Antwerp” and urged logis�cs service providers to explore this idea of se�ng up such a hub, to enable Indian exporters make use of such a facility and emerge as reliable suppliers to their European customers.

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

Ms. Elena Suarez, Adviser Interna�onal Rela�ons, Business Europe shared details of the importance of the business importance of India for the EU, discussion points of the India-EU leaders mee�ng and the latest update on the trade & investment agreements to follow.

Ms. Prerna Soni, Vice President, Invest India highlighted the various Indian government ini�a�ves to strengthen trade, investment and streamline logis�cs to make Indian exports globally compe��ve and a�ract FDI flows.

Mr. J.Krishnan, Partner, S.Natesa Iyer Logis�cs LLP & General Commi�ee Member, MCCI summarized the discussion in his closing remarks.

We had more than 55+ par�cipants mainly exporters and logis�cs service providers opera�ng between the India-Europe corridor who a�ended the interac�ve mee�ng and found it very useful

6

Webinar on Dispelling the Myths about Roo�op Solar 14th July 2021

Tamil Nadu has already emerged as a leader in renewable energy through its highest wind power capacity among all States. It has the poten�al to become the highest installed roo�op solar energy genera�on capacity in India with a vision to install 9000 MW by 2023.

Roo�op solar systems are becoming a popular source of electric power because it is a renewable energy source and it is abundantly available during the day. However, there were many myths in the understanding and in order to understand the policy and to create an awareness the Chamber under the auspices of its Energy expert commi�ee and in partnership with Auroville Consul�ng, organized a webinar on “ Dispelling the Myths about Roo�op Solar" on 14th July 2021 .

Ms. K. Saraswathi, Secretary General, MCCI gave the welcome address and Introduced the speakers Mr. S. Venkatachalam, Chairman, MCCI Energy Commi�ee & Managing Director, Orient Green Power Co. Ltd gave the Overview about Roo�op Solar in Tamilnadu and in India and gave the global perspec�ve.

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

Mr. Mar�n Scherfler, Co Founder, Auroville Consul�ng made a detailed presenta�on covering the current roo�op solar policy and op�ons available for the customers.

Ms. Sadhana Mankad, Dy. General Manager, State Bank of India, Credit Policy & Procedures Department made a detailed presenta�on on the Suprahba scheme – Credit lines for roo�op solar.

Mr. Hari Subbish Kumar Subramanian, Auroville Consul�ng made a detailed presenta�on on case studies financial viability of roo�op solar for C&I consumers. He further informed that 20 Pro bono financial feasibility report for roo�op solar PV for C&I consumer in Tamil Nadu can be offered to MCCI members and it will be on first come first serve basis.

Q&A session was moderated by Mr.S.Venkatachalam and the queries of the par�cipants were clarified by the panelist.

The Program was well a�ended by more than 70 par�cipants and the feedback was posi�ve.

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Presenta�on on Securi�es and Exchange Board of India (Delis�ng of Equity Shares) Regula�ons 2021

15th July 2021

Ms Saraswathi, Secretary General welcomed the members.

Dr B Ravi, Chairman of the Company law commi�ee set the context and introduced the speaker Ms. V Vasumathy, V.Vasumathy & Associates, Prac�cing company secretary .This session was organized under the auspices of the Company Law commi�ee of Chamber to create the awareness among the members on the new Delis�ng Regula�ons .

Ms. V Vasumathy made a detailed presenta�on covering Probable Reasons for Delis�ng, Scope of Delis�ng Regula�ons, condi�ons and types of Delis�ng and the procedures for delis�ng. Lastly the key highlights in new delis�ng regula�on was also covered for the benefit of the members Dr B Ravi moderated the Q&A session and the queries were clarified by Ms. V Vasumathy Ms B Chandra, Co chairman of the Company Law commi�ee proposed the formal vote of thanks The Program was a�ended by more than 33 members of Company law commi�ee and the feedback was posi�ve.

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Training Session on Enhancing Energy Efficiency in Motors and Motor Systems for Industries

16th July 2021

The Chamber under the auspices of its Energy expert commi�ee organized the virtual training Session on “Enhancing Energy Efficiency in Motors and Motor Systems for Industries” on 16th July 2021.

Ms.K.Saraswathi, Secretary General, MCCI gave the welcome address.

Mr.Suryanarayana Rao, Co-Chairman, MCCI Energy Commi�ee & Director-Industry & Engineering, Corporate Consul�ng Group set the context and introduced the speaker for the training session Mr. .J. Srinivasan, Partner of M/s Ace Enablers LLP.

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

The key objec�ve of the training session was to make the par�cipants understand the standards for various categories of motors and

the

benefits,

motor

efficiency

management system, and to improve reliability

through

latest

technological

advancements.

The training session broadly covered the following topics:• Motors and Motor system components, Installa�ons and scope • Standards (Interna�onal & Indian) • Approach to replacement strategies of induc�on Motors.

The training session immensely helped the opera�on and maintenance team to understand the techniques of improving the efficiencies and bringing down the cost of maintenance. We had 37 par�cipants in the training session. We had Electrical, Mechanical and the Produc�on process engineers from our member organiza�ons and the feedback was very posi�ve.

Orient Green Power Co. Ltd gave the Overview about Roo�op Solar in Tamilnadu and in India and gave the global perspec�ve.

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Virtual Session on Women Leadership Coffee Connect 23rd July 2021

Under the banner of MCCI Women Business Council (WBC), the Chamber organized the first Virtual Women Leadership Coffee Connect Session on 23rd July 2021 .The primary aim is to connect with women leaders across different fields, learn from their stories, ideas and insights as to how they broke the glass ceiling and climbed the ladder of success.

Ms. Bhavani Balasubramanian, Chairperson, Women Business Council &Chief Strategist -Diversity Evalua�on, AVTAR gave the welcome address.

Mr.K. Ramakrishnan CEO, Senior Managing Director - Strategic Rela�onships Spark Capital Advisors (India) P Ltd. introduc�on the Speaker and ini�ated the conversa�on with the guest.

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MCCI

MONTHLY REPORT - JULY 2021

The Madras Chamber

Ms. Padmaja Chunduru, MD & CEO, Indian Bank, Chennai was the first speaker for the Women Leadership Coffee Connect series.

In

the

Ms.

coffee

Padmaja

connect Chunduru

conversa�on shared

her

experience par�cularly in the context of her industry, how she reached her career milestone and stated that she never no�ced a glass ceiling either at SBI or in Indian Bank and was busy doing her own things and when an opportunity came she was willing to risk it and did not let the work encroach on her home.

Indian Bank which has 11,00 women employees and 23% lower level officers has 5 GMS out of 40 at the top. She emphasized the need to have women in visible and cri�cal func�ons and women to be entrepreneurial. In SBI she had started spring board where the bank offers working capital to women entrepreneur referred by the incuba�on centres of IITM and IIT Bombay. She has also started regional language training programs covering technology, ecommerce, finance and basic business knowledge – a project that started in Tamil Nadu and has now been expanded. She stated that ul�mately it is up to the women not to take the easy way out and wallow in self-pity.

She ended with a remark “You can’t please everyone. Yes your children, home, husband, family are important but you are most important,” “So choose and balance well.”

Followed by the conversa�on we had Q&A session . Mr.K. Ramakrishnan moderated the Q&A session.

Ms. MadhriGuruswamy ,Co-Chair, Women Business Council & Advocate, T.S. Gopalan & Co proposed the formal vote of thanks .

We had more than 100 par�cipants for the the session and we had received excellent feedback from par�cipants.There was a wide coverage in the media.

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Session on HS Code 2022 30th & 31st July 2021

“HS” is a mul�purpose interna�onal product nomenclature developed by the World Customs Organiza�on (WCO). HS 2022, which is the seventh edi�on of the Harmonized System (HS) nomenclature used for the uniform classifica�on of goods come into effect from 1st January 2022 and will be implemented by all Contrac�ng Par�es to the Harmonized System Conven�on.

Under the auspices of the Logis�cs expert Commi�ee, the Chamber organized a comprehensive session covering all the changes in HS Code 2022 on 30th and 31st July 2021.

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MONTHLY REPOR T - JULY 2021

MCCI

The Madras Chamber

Mr. J. Krishnan, Partner, S.Natesa Iyer Logis�cs & LLP, who has 3 decades of experience in the Logis�cs Sector was the speaker for the Session . He made a detailed presenta�on covering all changes in HS code 2022. We had a good par�cipa�on for the session as it is essen�al for the exporters to familiarize with the changes and companies are legally bound to classify the goods correctly and enter the correct / revised HS code in the shipping / regulatory documents .

We had around 60 par�cipants who a�ended the session. They found it useful and shared the feedback that it is the first of its kind session which dealt in-depth on all the changes .

OTHER MEETINGS • Monthly GC mee�ng was held on 17th July 2021 • Expert Commi�ee Mee�ng : Manufacturing commi�ee mee�ng held on 13th July 2021 • Other mee�ngs: Apart from regular core commi�ee mee�ngs we had the following mee�ngs 1. State pre budget discussion at Guidance Bureau on 26th July 2021: Chamber presented the state pre budget points.

2. Presenta�on on Fintech Dra� policy at State development council on 30th July 2021: Mr Ramkumar Ramamoorthy, Past President, MCCI presented the dra� Fintech policy.

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