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Jan
24
It is a fact that anything unique, useful and innovative has the potential to create a monopoly in the market. However, to encourage fair competition & provide the owner with an opportunity to earn, the patent law is created. Patents are exclusive rights that are bestowed upon the innovator or the original owner of an […]
Jan
24
Obtaining FSSAI Registration and License is the first step towards fulfilling mandatory food business requirements and enter into the food industry. Apart from that, there are various other licenses that are mandatory for the food industry. Here is the list of the most critical restaurant licenses required to open a restaurant in India – obtaining these, will […]
Jan
23
ISO is the International Organization for Standardization in India. It is the independent organization that provides standards in various terms such as quality, safety, and efficiency of products and services provided by the businesses. The quality of the product/service has to be of assured and high-grade quality to stay ahead of the competition. The ISO […]
Jan
22
The electronic sector is seeking the government to lower GST rates and remove the import duty on inputs used to manufacture appliances domestically. In Budget recommendation, CEAMA’s president, Kamal Nandi said that lowering GST on eco-friendly and energy effective electronic appliances like air conditioners and refrigerators will definitely boost the demand for such items leading […]
Jan
20
In the recent GST Council Meet, it has been concluded that some amendments would be made to the GST laws in Budget 2020. In its third year, the GST regime would greet its new & overhauled version i.e. GST 2.0 whose due application would indicate the true mojo of GST. The introduction of the GST regime in 2017 […]
Jan
20
The administration currently decided to reset Goods and Service Tax collection targets. The current targets set by the government are Rs. 1.15 lakh crore for February and Rs. 1.25 Lakh crore for March, which are higher than the GST collections of December. The hike in the targets is a conclusion derived after the meeting where […]
Jan
10
Microfinance Companies Request Exemption from GST in Budget Wishlist. Sa-Dhan, an association of Microfinance Institutions (MFIs), has asked the Government to exempt the microfinance industries of GST as this industry offers its services to the low- income group. The Association Executive Director, P. Satish said that imposing GST will be against the government’s policy on […]
Dec
21
Only 10% provisional credit allowed instead of 20%In the recent GST Council meet, provisional credit limit has been reduced from 20% to 10%. This provisional credit rule says that ITC cannot be claimed as per your own records. Businesses need to make sure that their suppliers have uploaded invoices and these are reflecting in GSTR-2A. […]
Dec
17
The Government is likely to miss the deadline of making the new forms available for annual GST return filing within the stipulated time in order to make the annual filing of GST return by traders and companies in time. Earlier, the Government has extended dates of filing of form GSTR-9, GTSR 9A and GSTR-9C for […]
