For small business & start ups, compliance in GST regime will be time consuming and cumbersome. Provisions to protect the interest of such small businesses are often found in the earlier taxing statutes. For simplifying new business compliance regime, GST too have such provisions. A registered person whose aggregate
To boost apparel exports from the country, Government has announced a ‘Special Advance Authorisation Scheme’ under which duty-free import of fabric, in certain type of products, would be allowed. The scheme will come into effect from September 1. “Duty free import of fabric under ‘Special Advance Authorisation Scheme for export
The Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure since the economy began to be opened up 25 years ago, is crossing its last milestone today. The discussions on Constitution (122nd) Amendment Bill which will change the way business is done in the country on
In this year’s Budget, central excise duty of 1% without input and capital goods tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113 of the First Schedule to the Central Excise Tariff 1985. Subsequent to that, the Government had set up a Sub-Committee
‘Alliance for Digital Bharat’ formed to help SMEs digitize In a bid to develop conducive atmosphere for digitalisation in non-corporate sector, prominent stakeholders of economy have come forward to form the ‘Alliance for Digital Bharat’. The Alliance includes national organisations of traders, transporters, consumers, farmers, hawkers, SMEs, self-employed groups etc.