Farm Laws, Market Fees and Agritech Sector Dynamics
- Year of Publication: 2021
- ISBN: 0
Episode Duration:
60 minutes
Episode Background:
As you are aware, with a view to reform the traditional agri-market model regulated by state governments and to facilitate better and innovative agri-practices for archaic models, the Parliament passed the three farm legislations in September 2020, namely, The Farmer’s Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020 and The Essential Commodities (Amendment) Act, 2020 (“Farm Laws”), to be implemented retroactively with effect from June 5, 2020.
With both the Farm Laws and the state legislations operating within the same domain, it is imperative to understand the scope of the power of the Centre and the states under these legislations as well as the critical legal issues that have arisen for businesses dealing in agricultural produce, such as the liability to pay market fee to the state governments prior to and post implementation of the Farm Laws. Additionally, in view of the boom in agri-tech space in recent years, understanding the interplay of these legislations and the opportunities created for businesses under the Farm Laws, becomes further relevant.
What shall the episode cover?
Against this backdrop, Taxsutra had invited Mr. L. Badri Narayanan, Executive Partner, Lakshmikumaran & Sridharan Attorneys to speak on “Farm Laws: Critical Legal Issues, Impact and Opportunities”. The key aspects which were discussed during the talk include the following:
Key Highlights
- Overview and scheme of state agricultural produce market committee laws (State APMC laws) in India
- Farm Laws – salient features of the new laws
- Critical legal issues arising out of the Farm Laws
- Current investment trends and opportunities in agri-tech
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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- Year of Publication: 2021
- ISBN: 0
Episode Duration:
60 minutes
Episode Background:
As you are aware, with a view to reform the traditional agri-market model regulated by state governments and to facilitate better and innovative agri-practices for archaic models, the Parliament passed the three farm legislations in September 2020, namely, The Farmer’s Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020 and The Essential Commodities (Amendment) Act, 2020 (“Farm Laws”), to be implemented retroactively with effect from June 5, 2020.
With both the Farm Laws and the state legislations operating within the same domain, it is imperative to understand the scope of the power of the Centre and the states under these legislations as well as the critical legal issues that have arisen for businesses dealing in agricultural produce, such as the liability to pay market fee to the state governments prior to and post implementation of the Farm Laws. Additionally, in view of the boom in agri-tech space in recent years, understanding the interplay of these legislations and the opportunities created for businesses under the Farm Laws, becomes further relevant.
What shall the episode cover?
Against this backdrop, Taxsutra had invited Mr. L. Badri Narayanan, Executive Partner, Lakshmikumaran & Sridharan Attorneys to speak on “Farm Laws: Critical Legal Issues, Impact and Opportunities”. The key aspects which were discussed during the talk include the following:
Key Highlights
- Overview and scheme of state agricultural produce market committee laws (State APMC laws) in India
- Farm Laws – salient features of the new laws
- Critical legal issues arising out of the Farm Laws
- Current investment trends and opportunities in agri-tech
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
