In order to help the exporter, it has been decided by the Government of India to increase w.e.f. November 02, 2018 Interest Equalisation rate from 3% to 5% in respect of exports by the Micro, Small & Medium Enterprises (MSME) sector manufacturers under the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit. …
The Ministry of Corporate Affairs (MCA) has constituted a committee for finalizing the Business framework of the updated NVGs. The Institute of Company Secretaries of India (ICSI) & Indian Institute of Corporate Affairs (IICA) shall render necessary secretarial assistance and logical support to the committee on BRR. MCA & ICSI shall jointly provide technical support …
The Securities and Exchange Board of India (Sebi) is planning to relax rules for listing of startups in India, which include giving promoters the flexibility to categorise themselves as ordinary shareholders and exempting them from the mandatory three-year lock-in period. The capital markets regulator may also free them from fiduciary responsibilities of a promoter, two …
Government is going to rollout online filing for processing of claims under Budgetary Support Scheme. The new scheme will be effective from 15th October 2018 and new procedure for online registration has been prescribed. The scheme was essentially conceptualized and approved to operate in an automated environment. This would bring about better supervision, monitoring of …
Ministry of Corporate Affairs (MCA) has notified amendment to the Limited Liability Partnership Rules, 2009 wherein process of incorporation of LLPs and reservation of their name have been amended in order to ease of doing business. Under revised norms, a new web based form ‘RUN-LLP’ has been introduced through which names of a LLP can …
The Securities and Exchange Board of India (Sebi) may soon bring in a slew of changes to make it attractive for startups to list on the bourses. Among other things, the regulator may broaden the definition of startups to include non-tech companies and allow them to list directly on the main board of stock exchanges …
The government is planning to compare data filed by companies with different departments to detect discrepancies and check whether there’s been any leakage in tax collected, raising the prospect of even greater scrutiny, said people with knowledge of the matter. Goods and services tax (GST) returns, income tax filings and transfer pricing submissions will be …
The 29th GST Council meeting was held on August 04, 2018 at New Delhi. The GST Council meeting has been held to address the concerns of Micro, Small and Medium Enterprises (MSME’s) and to affirm the proposal of cashback on digital transactions. The key recommendations of meeting are as follows: 1. Cashback on Digital Transactions …
E-commerce players will finally see scrapping of the proposed tax collected at source (TCS) under the goods and services tax (GST) regime, if proposals for the draft policy are implemented. The proposals call for revisiting TCS, which according to the players mean abolishing the concept altogether. TCS at the rate of up to 1 per …
‘End of tax terrorism’ was one of the political planks that had swung urban votes in favour of BJP in 2014. After four years, the government is making sure that the catchphrase does not come back to haunt it in 2019. A few days ago, the chief of the Central Board of Direct Taxes (CBDT) …