For decades, the UAE has been celebrated as a tax haven, attracting businesses and investors worldwide with its minimal tax obligations. However, in a significant shift to align with global standards for tax transparency and to address the OECD’s Base Erosion and Profit Shifting (BEPS) standards, the UAE introduced corporate tax following the implementation of … Read more
Last week, the Central Board of Indirect Taxes and Customs warned everyone about fake GST summonses trying to trick people across the country. They said we should be careful and double-check if any messages we get from GST officials are real. It’s a reminder to stay alert and not fall for scams when dealing with … Read more
A new rule has been put in place to help small and medium-sized businesses in India get paid on time. From April 1, 2024, the government will allow buyers to claim income tax deductions for expenses only when they pay their suppliers, specifically the MSEs. This rule is a big deal for businesses in India, … Read more
Recently, the Food Safety and Standards Authority of India (FSSAI) made a significant decision. This decision impacts food businesses across the country. As per the sources, FSSAI announced that food products holding an FSSAI licence will no longer require additional certification from the Bureau of Indian Standards (BIS) or AGMARK. Let’s delve deeper into what … Read more
Stay informed about latest changes in ITR Filing for FY 23-24 through this article and avoid potential penalties or errors in their filings, thereby minimising the risk of audits or legal issues. Streamlining Tax Processes for Businesses The income tax department has introduced changes to simplify tax procedures for businesses, particularly in the area of … Read more
In order to expand your business globally and engage in cross-border trade, acquiring AD Code Registration, also known as Authorised Dealer Code Registration, is essential. This unique code, assigned by the Reserve Bank of India (RBI), is a requirement for individuals or businesses involved in foreign exchange transactions in India. Let us know about AD … Read more
Under the guiding principles of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas’ and the comprehensive national approach of “Sabka Prayas,” Finance and Corporate Affairs Minister, Smt. Nirmala Sitharaman presented the Interim Union Budget 2024-25 in Parliament. The key highlights of the budget can be summarised as follows: Budget 2024 Highlights: Direct and Indirect Tax No … Read more
With investments in companies like Flipkart, Zomato, and OYO, Sequoia has played a pivotal role in shaping India’s rapidly evolving tech landscape. Thus, entrepreneurs looking to get investments from such venture capitalists, business loans or even applying for government schemes must have a solid pitch deck. In this article, we will explore Sequoia Capital’s 10 … Read more
GSTR-2A, is an automatically generated tax return for purchases, created by the GST site upon a vendor’s GSTR-1 submission. It is important for businesses to use GSTR-2A to claim input tax credit in GSTR-3B and GSTR-9 filings. So, learning about the process to view GSTR 2A on the GST Portal is crucial and we will … Read more
Every country institutes a set of regulations and systems to ensure the smooth and efficient importation of goods into their respective territories. The European Union (EU) has introduced the Registered Exporter System (REX), a self-certification mechanism aimed at declaring the origin of goods imported into the region. If you are into export and import business, … Read more