Title Image

Medium And Small Enterprise Tag

PLI Scheme to Benefit Pharmaceutical Sector

The Ministry of Chemicals and Fertilizers has announced that 55 pharmaceutical companies are likely to get benefitted from the Production-Linked Incentive scheme for pharmaceuticals which is part of the government’s flagship Atmanirbhar Bharat Plan. This scheme will help in enhancing India’s manufacturing capabilities and exports in ten sectors.

The financial outlay for this Production- Linked Incentive (PLI) Scheme is Rs 15,000 crore. This PLI scheme aims to enhance India’s manufacturing capabilities and also exports in ten different sectors which were approved by the Union Cabinet.

The Cabinet approved this scheme on February 24, 2021. The operational guidelines inviting applications for the pharmaceutical industries were issued on June 1, 2021. They were issued by the Department of Pharmaceuticals after consulting thoroughly with related departments, industries, and NITI Aayog. A total of 278 applications were received by 31st August on the scheme out of which 55 applicants got selected.

Watch Avani Shukla from LawWiser helps us understand different aspects related to it such as –

1. Aim of the PLI scheme

2. Invitation of applications for the PLI scheme and different categories associated with it

3. How is it going to benefit the pharma sector?

Tune into the video to learn and understand more about the scheme.

0

Supreme Court on Changes in Policy Terms & Government on PLI Linked Scheme

LawWiser Tune into the latest video where LawWiser takes you through the updates related to “SC On Changes In Policy Terms” and “Government On PIL Linked Scheme”.

Watch Prabhjot Singh sharing the update on the policy changes wherein the Supreme Court has held that an insurer is clearly under a duty to inform policyholders about changes in terms of the policy during renewal, and failure to do so would amount to deficiency in service under the Consumer Protection Act, 1986.

In the second update, the government is planning to introduce the Production Linked Incentive Scheme, which is yet to be considered for approval by the cabinet.

As per the Production Linked Incentive Scheme, the government is planning to provide incentives worth Rs 76,000 crore towards setting up over 20 semiconductor design, components manufacturing, and display fabrication (fab) units over the next six years in a bid to make India a hub for electronics.

0

EESL & MSME Tie-up

#Watch our latest video on LawWiser about the tie up between EESL & MSME.

The State-owned EESL (Energy Efficiency Services Limited) has collaborated with the Global Environmental Facility (GEF), MSME ministry, and the United Nations Industrial Development Organization (UNIDO) to implement a national project for MSME sector.

The project is aimed to deploy 35 energy efficient technologies which have maximum possibility of replication and potential to improve the energy productivity of fellow MSMEs units. #staytuned to #LawWiser for more such updates.

0

Defective Products and Liability of E-Commerce Platform

Watch our new U-special video on Defective Products and Liability of E-Commerce Platform by Nidhi, a alumni of the Faculty of Law, Jamia Milia Islamia University.

Tune to watch as Nidhi explains the concept of Defective products and liability of e-commerce. She discussed inclusion of e-commerce under the ambit of the Consumer Protection Act, 2019 and Consumer Protection E-commerce Rules, 2020. She further highlights rulings of different Consumer dispute redressal commissions to understand their views on e-commerce liability.

0

Hoarding and Black Marketing of COVID Vaccine and Live Saving Drugs

Today’s topic is one of the most trending and important topics over 2 years – Hoarding and Black Marketing of COVID Vaccine and Live Saving Drugs. Mohsin khan is an Alumnus of Faculty of law, Jamia Millia Islamia. He has a keen Interest in Tax Law. #TuneIn as Mohsin explains the Issue of GST on Vaccines and Covid Drugs/ life-saving drugs.

Lifesaving drugs includes vaccine and other important drugs that may become important depending on their need during an outbreak of disease or virus such as COVID. The supply of life saving drugs is taxable under Section 7 of the CGST Act 2017.

He highlights the recent GST council meetings held and the contentions raised in the PIL on the said issue. #Tune in to watch the video on the Hoarding of essential commodities, remedies and prosecution by Mohsin Khan, Alumni of Faculty of law, Jamia Millia Islamia. Watch Mohsin explain the Issue of GST on Vaccines and Covid Drugs/life-saving drugs. During the second wave of the pandemic, the need for proper regulation of COVID-related drugs and vaccines was highlighted.

Lifesaving drugs include vaccines and other important drugs that may become important, depending on their needs during an outbreak of diseases or viruses such as COVID. The supply of these lifesaving drugs is taxable under Section 7 of the CGST Act 2017. He also highlighted the GST council meetings, decisions on these essential commodities and the contentions raised in the PIL on this issue.

Watch more such exciting videos on LawWiser

To get featured in more such conversations, write us on [email protected]

0

GST Updates 2021 – Ecommerce Operators | In A Minute

#Watchnow #Inaminute video where Jatin Arora, Partner, Phoenix Legal takes us through this GST Council update in relation to e-commerce operators.

GST Updates 2021 – In the 45th GST Council meeting, it was decided to shift the burden of tax on the restaurant services to e-commerce operators like #Swiggy#Zomato through whom these services are delivered. In the video, Jatin quickly explains what this update is about and the impact that it is likely to have on e-commerce operators.

He takes us through the details that this is not a new tax introduced on e-commerce operators. The restaurant charges 5% GST on their supplies. Also, the e-commerce operators pay 18% GST on the commission earned by them.

This will be in effect from 1st January 2022 and instead of the restaurants, the e-commerce operators will charge the tax on the food supplies. The e-commerce operators will charge GST on every supply that they will make, irrespective of whether the restaurant supplying the food is exempt from GST or not. This means there will be additional burden on compliance side for restaurants. The e-commerce operators will also have to do changes in their software to accommodate this change and do additional compliance.

An important issue to be considered is that the restaurants are not eligible to avail input tax credit (ITC) for their supplies. Whereas the e-commerce operators do avail ITC. For more clarity on these points, we need to watch out for the notifications issued by the government.

Stay tuned for more GST updates happening in 2021

Watch more Amazing content at – Lawwiser.com

To get featured in more such conversations, write us on [email protected]

0

Karnataka Draft Bill : BAN on online gambling? | LawWiser Shorts

The Karnataka government has decided to impose a ban on online gambling or betting. However, lottery and horse racing have not been prohibited. These amendments will be made to the Karnataka Police Act, 1963.

The draft of the Karnataka Police (Amendment) Bill, 2021, is yet to be available publicly. #Watchnow #LawWiserShorts on Karnataka Draft Bill: Online Gaming by Srinivas Kotni, Founder and Managing Partner, Lexport. He shares his views on the Karnataka government’s proposal to ban online gambling by amending the Karnataka Police Act.

The state government has also announced imposing penalties and arrests in cases of violation of these proposed rules. It is expected that there would be a balance in the distinction between the game of skill and the game of chance. As many start-ups are venturing into online games of skill and are also seeking investments for the same. A blanket ban would impact this sector hugely in terms of investment and employment as well.

However, various courts have repeatedly held that games of skill would not be covered under gambling and they cannot be outright prohibited. The sector is seeking proper regulation of online gaming including online gambling. Once the draft bill is made public more information on the provisions would clarify any doubts.

Watch more Amazing content at – Lawwiser.com

To get featured in more such conversations, write us on [email protected]

0

PLI (Production Linked Incentive) Scheme – Textile Industry

Production Linked Incentive is also commonly known as PLI scheme. This PLI scheme offers incentives on incremental sales from items produced in India over the base year. Apart from scaling up local production, the scheme also seeks to curb cheaper imports and reduce import bills.

#Watch LawWiser Shorts, where Mukund P Unny, Advocate, Supreme Court of India, shares his quick take on the PLI scheme for the textile industry.

The PLI scheme for textile has been given cabinet clearance and this scheme is slated to improve business in the textile industry in a big way. Interestingly, the purport of the scheme is limited to just man-made fibres, apparel.

He shares that the total budgeted outlay is around 10,000 crore and the government has designed the scheme to try and ensure that there is a recovery in textile production in India. The scheme seeks to help those industries that invest in the production of 64 select products.

The scheme is for two types of investments. One- there should be a minimum of ₹300 crore investment in plant, machinery, equipment. That investment must translate into a minimum turnover of ₹600 crores once it commences operation. Second, there should be a minimum investment of ₹100 crores, and eventually, this company should achieve a minimum turnover of ₹200 crores.

Thus, the incentive is based on a combination of investment and turnover. The incentives will be paid for five years after the first year of post-investment operation. The textile industry is human resource-oriented in great deal, and it will be in job creation in this segment.

Watch this to know more on #PLIscheme for #textileindustry in India. To get featured in more such conversations, write us on [email protected]

0

Distressed M&A (Mergers and Acquisitions)

Watch our new Lawwiser video on ‘Distressed Mergers and Acquisitions’ with our host Lavanya Behl #inconversation with Jayesh H, Founding Partner, Juris Corp.

Distressed acquisitions have always been part of the M&A arena in India. Such acquisitions require lot of research, due diligence and proper procedures to be followed. By 2018, distressed acquisitions accounted for around 12% of overall M&A activity and with the introduction of IBC (Insolvency and Bankruptcy Code), it has only increased. It is considered that the IBC regime has not only aided the M&A sector but also provided procedures with timelines for effective distressed Merger and acquisition transactions.

Watch this video where our guest speaker discusses some important aspects including –

  • The role played by IBC in distress acquisition,
  • The CIRP process to settle such acquisitions,
  • Opportunities for investors and
  • The impact of pandemic on these acquisition.

To get featured in more such conversations, write us on [email protected]

Explore more such interesting topics at our youtube channel –  Lawwiser

0

Mitigating Risks of Cybersecurity Issues in M&A (Mergers and Acquisitions) Transactions

As businesses have started opening up and we move towards post-pandemic growth levels, M&A transactions are gradually reviving. The issue of cybersecurity in M&A has increased because of our dependence on technology and it has become very important to incorporate cybersecurity measures in this digital age.

Cybersecurity due diligence is now getting recognition as a fundamental element as it helps in identifying and remediating risks associated with M&A deals.

Watch this engaging video on ” Mitigating risks of cybersecurity issues in M&A transactions” where Sonali Singh, Senior Manager- Legal at Cognizant Technology Solution, takes us through the benefits, process, and need for the incorporation of cybersecurity in M&A transactions.

She also talks about cyber threats and their consequences on M&A deals by focusing on important case laws. She further discusses the key role of cybersecurity in future M&A transactions and its regulations as technology coupled with data and privacy breaches have increased across the globe.


To get featured in more such conversations, write us on [email protected]

0
Call Now ButtonCall us now!