As we know, MSMEs, or Micro, Small, and Medium Enterprises play a stellar role in ensuring the growth of a country’s economy. Their contribution towards production, employment, and exports, make them an indispensable part of any economy. In this article, we will discuss on MSME Sector and its importance. Importance of MSMEs in India Although … Read more
With effect from the 1st April 2021, it has been made necessary for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to provide 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) on the invoices published for … Read more
Ever since the Goods and Services regime was executed on July 1, 2017, the commercial tax department has seen an 85% rise in the number of taxpayers who have halted filing returns. In this article, we will discuss Non-tax filing on increase in state since GST rollout. Non-tax filing on increase in state since GST … Read more
ESIC schemes are very popular in India. As a result, there is a hike in new members joining the scheme. According to NSO numbers, the number of new ESIC subscribers registering in 2019-20 was 1.51 crore. Approximately 83.35 lakh new customers joined the ESIC system between September 2017 and March 2018. ESIC scheme adds 11.55L … Read more
As we know, an ISBN is a crucial requirement if you are a writer looking to sell your book through booksellers, distributors, wholesalers, and internet websites worldwide. Every country has its own designated ISBN agency that is entrusted with issuing ISBNs and promoting its use. This article will focus on the importance of ISBN and … Read more
Digital lending based on GST data can enable near the credit gap of around $250 billion for SMEs and furnish finance at shorter rates to reduce their borrowing costs, according to Vayana Network, a supply chain financing platform. In this article we will discuss on GST information improves MSME. GST information improves MSME Vayana Network … Read more
As we know, it becomes critical for organizations to ensure they have adequate checks and balances to maintain consistency and quality that conform to different global markets. International standards help a business compete with international players and reassure customers of the quality of products and services they are availing. One such requirement for companies is … Read more
Since COVID-19 became pandemic; it has affected and placed unprecedented stress on all sectors of the economy. This COVID-19 Pandemic hasn’t only affected the business field management, even well-established organizations, highly stable and performing companies against recession, now no more untouched. As a result, it impacts the Bookkeeping and Accounting services of any organization. In … Read more
The Central Board of Direct Taxes (CBDT) postponed the Tax Audit Clause 30C and 44 till 31st Mar 2022 due to COVID-19. The CBDT has lengthened the due date for filing Form 3CD. In this article, we will discuss on CBDT Defers GST & GAAR reporting till 31.03.2022. CBDT Defers GST & GAAR reporting till … Read more
There is a piece of good news for all of us. This news is about the new PF limit increased to Rs. 5 Lakhs. The government has increased the annual cap for tax exemption on interest received on employee provident fund contributions to Rs 5 lakh. Therefore, in this article, we will discuss the EPF … Read more