On October 7, 2023, the 52nd GST Council Meeting happened, where they discussed important things and made decisions to help taxpayers. Here’s a quick summary of what they did to make taxes easier, revision in GST Rates, clear up confusing laws, and provide a chance for people to resolve old tax issues. Changes in GST … Read more
Digital entertainment industry is thriving in India. However, you must also know that the entertainment industry is also not free of taxes. Discover how GST affects your favorite entertainment apps in India in this straightforward article. Online supplies of digital content, like music, movies, and TV shows, are called OIDAR services. OIDAR stands for Online … Read more
India’s historical dominance as the leading diamond polishing nation is facing competition from China, which is experiencing a significant increase in diamond production. This has prompted India to turn to its ally and primary supplier of rough diamonds, Russia, for support in safeguarding its market position. Let’s learn about the latest updates in the diamond … Read more
Online gaming companies like Dream 11, Games 24×7, and Head Digital Works are in trouble because they have to pay more than Rs 55,000 crore in taxes. Now, they are running to courts as they fear bankruptcy and other challenges. Let’s learn about the latest updates in the Gaming Industry. DGGI Sends Notices to Online … Read more
The Ministry of Skill Development and Entrepreneurship has shifted its attention towards improving the viability and boosting the productivity of small, informal businesses. This is being achieved through the encouragement of skills training for micro, small, and medium enterprises (MSMEs) and the provision of customized courses to address the specific needs for skilled labor in … Read more
The Company Law Committee (CLC), a group of experts appointed by the Ministry of Corporate Affairs (MCA), is considering making new rules for larger unlisted companies. The CLC will also define what makes a company “large” based on its size and revenue. CLC to Consider Quarterly Financial Reporting for Larger Unlisted Companies The Company Law … Read more
The online gaming industry, which typically thrives during major sports events, is currently facing a lack of enthusiasm. Even in anticipation of the ICC Men’s Cricket World Cup, the online gaming industry is facing challenges, due to the significant burden of a 28% tax imposition. Let’s understand the issues in detail. Impact of Increased GST … Read more
The Goods and Services Tax Network (GSTN) has released guidance regarding the Geocoding Functionality for Additional Places of Business. Let’s learn about the latest news of the GSTN geocoding advisory for additional places of business. GSTN Extends Geocoding Functionality to Additional Place of Business Address GSTN is delighted to announce that the geocoding feature for … Read more
The GST Authority’s advisory, issued on Monday, establishes a 30-day reporting deadline for invoices on e-invoice portals. Let’s learn this crucial update for you in detail. New GST e-invoice reporting rule for businesses with AATO 100 Crore + The GST e-invoice system has made a new rule, starting from November 1, 2023. It says that … Read more
India is the 19th largest exporter in the world. It exports a variety of goods and services. Indian exports are known for their high quality and affordability, making them highly profitable. If you also wish to start export business in India, you must also know about top India export commodities in 2023 that are mentioned … Read more