New Functionalities like Turant Customs and Other Initiatives for Contactless Customs enabled w.e.f. July 06, 2020

In order to achieve the moto of “Ease of doing business” amidst this pandemic period of COVID-19, Government of India has introduced the facility of “Turant Customs”. Various notifications and circulars are being issued every now and then to give... Read More →

Posted in GST |

GST On Merchant Trade Transactions

In simple terms, a merchant trade transaction is one that involves shipment of goods from one foreign country to another foreign country, where the goods do not enter Indian Territory. Recently a ruling in case of “M/s Sterlite Technologies Limited”... Read More →

Posted in GST Update |

Classification and Procedure for Registration of MSMEs

Ministry of MSME vide Notification dated 26 June 2020 has notified criteria for classifying the enterprises as MSME and prescribed form and procedure for registration of MSMEs w.e.f 1 July 2020 For details, please refer attached note:- Classification and Procedure for... Read More →

Posted in Direct Tax |

Further Extension Of Certain Due Dates By CBDT vide Notification No. 35 of 2020 dated 24th June 2020

CBDT vide Notification No. 35 of 2020 dated 24th June 2020 has provided relief to the taxpayers by further extending certain due dates for making compliances which were extended originally through the Taxation and Other Laws (Relaxation of Certain Provisions)... Read More →

Posted in Direct Tax |

Cost Optimization Post Covid-19

As the world is suffering from the rise of COVID-19, at the same time business are suffering due to lack of revenues, bad debts, fall in demand etc. and ultimately it is impacting profits and reserves of businesses. Many businesses... Read More →

Posted in Audit & Assurance |