News

Online Complaint System for MSME delayed payments

Online Complaint System for MSME delayed payments

An important update for MSMEs and big businesses in India. As per the latest update, Companies delaying payments to MSEs by more than 45 days will now have to provide additional information in a revised MSME Form 1 along with a new complaint system launching soon along with Online Complaint System under planning. Consequences of … Read more

18% GST on Dosa, Idli, Khaman Mixes; Not Sattu

18% GST on Dosa, Idli, Khaman Mixes; Not Sattu

The General Anti-Avoidance Rules Authority (GAAR) has issued an update that indicates a possible reclassification of instant mixes such as dhokla, idli and dosa. Therefore, this will increase their GST rate to 18%. This decision takes these items out of the low tax basket “sattu”. The impact on the producers and consumers is significant. Manufacturers’ … Read more

BIS Certification Mandatory for Trading Imported Goods

BIS Certification Mandatory for Trading Imported Goods

In a significant regulatory update, the import of used, repaired, refurbished, and reconditioned electronic products intended for the Indian market must now get BIS Certification. Furthermore, welcomed by the industry, aligns with the government’s recent efforts to curb the influx and sale of substandard products within the country. Let us understand the latest news of … Read more

Could Your Favorite Spices Be Banned? FSSAI’s Shocking New Testing Rule

Could Your Favorite Spices Be Banned? FSSAI's Shocking New Testing Rule

Following a recent international investigation into possible contamination in spices, the Food Safety and Standards Authority of India (FSSAI) has announced a nationwide inspection of all spice mix companies. Let us understand the new testing rule and keep you informed about food safety in India. Hong Kong Food Authority’s Warning on Indian Spice Products A … Read more

How to apply for Startup Mahakumbh

How to apply for Startup Mahakumbh

Apply for Startup Mahakumbh – a massive event to happen soon in the Nation’s capital. The one of a kind Startup Event is happening March 18-20, 2024 in New Delhi at the Bharat Mandapam and Pragati Maidan. This event is beneficial especially for those who are new in business or starting a new business. Let’s get all the crucial details related to Startup Mahakumbh in this article.

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How to apply for Jagriti Yatra Startup Train?

How to apply for Jagriti Yatra Startup Train

The Jagriti Yatra spans a 15-day journey via train, covering a distance of 8000 kilometres across India, aimed at fostering understanding and fostering the development of small towns and villages through entrepreneurial initiatives. Organised by the non-profit charitable organisation Jagriti Sewa Sansthan, headquartered in Mumbai, this initiative is rooted in Deoria, Uttar Pradesh, with a … Read more

How to Check a GST Notice: Real or Fake?

How to Check a GST Notice Real or Fake

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

45-Days MSME Payment Rule for Income Tax Deduction

45-Day MSME Payment Rule

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

2024 Interim Budget : Key Points

2024 Interim Budget Key Points

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

Form 10 IC due date extended for AY 2021-22

Form 10 IC due date extended for AY 2021-22

The CBDT (Central Board of Direct Taxes) has released a new notification on October 23, 2023. This new notification is a huge relaxation and allows people more time to submit a Form 10IC for the year 2021-22. Let’s understand it in detail so that you can benefit from it. CBDT’s New Deadline for Form 10-IC … Read more