Government has taken several steps to reduce import reliance so as to curb the trade deficit. These include creating/enhancing of domestic capacity, incentivizing domestic manufacturing through Production Linked Incentive (PLI) schemes, phased manufacturing plans, timely use of trade remedy options, adoption of mandatory technical standards, enforcement of FTA Rules of Origin (RoO) and development of […]
Commerce Ministry finally allowed RODTEP benefit to Chemical, Pharma and Steel Sector for the Exports transactions undertaken between 15 December 2022 to 30 September 2023 which was a long pending demand from the industry. The benefit is being expanded to these industry to boost exports will cost around 1000 Crore to the industry. The Scheme […]
Sustained Government efforts result in increasing the number of recognized Startups from 452 in 2016 to 84,012 in 2022 Sustained Government efforts in this direction have resulted in increasing the number of recognized Startups from 452 in 2016 to 84,012 in 2022 (as on 30th November 2022), Minister of State for Commerce and Industry, Shri […]
There shall be a ‘Board-approved policy’ set up by the Insurer containing ects relating to operational matters, accounting (including provisioning requirements) and disclosures for addressing the issue pertaining to cancellation of policy including claw-back of commission.
Authority issued Guidelines relating to Fire and Allied perils standard products covering Dwellings, Micro and Small businesses, namely, – Bharat Griha Raksha (BGR), – Bharat Sookshma Udyam Suraksha (BSUS) and – Bharat Laghu Udyam Suraksha (BLUS)
Representation on delay in processing of applications filed under Section 119(2)(b) of the Income-tax Act, 1961 and recommendation to introduce online measures
Direct & Indirect Taxes : Monthly Updates Date & Time – 3rd December 2022 (Time:11 a.m to 12:30 p.m) Tax Guru is Organizing a 1 and Half Hour Workshop for discussions on ‘Direct & Indirect Taxes : Monthly Updates’ on the following topics- GST – 1. Replying to notices for ITC denial for- A. Mismatch […]
The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods)
At present, taxpayers are required to furnish their Income-tax Returns in ITR-1 to ITR-7 depending upon the type of person and nature of income. The current ITRs are in the form of designated forms wherein the taxpayer is mandatorily required to go through all the schedules, irrespective of the fact whether that particular schedule is […]
ICAI entered into MoU with the Institute of Chartered Accountants of Nigeria and renewed existing MoU with the Institute of Chartered Accountants of Nepal (ICAN). Both the MoUs were signed on side-lines of the WCOA2022 and were exchanged in the presence of Shri Devendra Fadnavis, Hon’ble Dy. Chief Minister, Maharashtra.
