“In Life, change is inevitable. In Business Change is Vital.” – Warren G. Bennis Introduction: 2022 is here! We all live in a continuously changing environment. Every year, new improvements and innovations are made in…

BY BUSINESS: Increased operational expenses The increased tax burden on Small and Medium Enterprises (SME’s)   Multiple registrations for Pan-India businesses Returns must be filed on a monthly basis Registration will be mandatory for e-commerce…

Impact Earlier Now 1.Ease of commencement of businesses A business having operations across different state needs VAT registration. Different tax rules in different states lead to complications and a high procedural fees. Under GST, the…

CBIC made E-invoice under GST mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 2017-18 till 2021-22 with effect from 01st April, 2022. The existing limit of…

The Union Budget for fiscal 2022-23 unveiled by the Indian Finance Minister Nirmala Sitharaman on the first of February, 2022, included several measures that could lead to a major boost for the economy as a…

GST – Goods service tax is a tax procedure followed in India from July 1st 2017 on the supply of goods and services to avoid multiple taxes by the central and state governments. GST is…

Introduction With the intent to penalise the non-filers of the income tax returns, CBDT introduced new sections, namely, 206AB and 206CCA. Section 206AB (Clause 51 of Finance Bill 2021) Any person who is liable to…

Introduction: In view of the economic distress caused by the COVID-19 pandemic, the Finance Ministry unveiled a Rs. 20 Lakh Crore comprehensive package, known as the Emergency Credit Line Guarantee Scheme (ECLGS).  This package is…

Income Tax Proposals The ‘tax audit limit’ under Section 44AB has been increased from Rs.5 crores to Rs.10 crores where 95% of business transactions are done in digital mode. Delay in remittance of employee share…

Introduction Currently, employee pay structures in terms of basic pay and allowances are not standardised across organisations. There are multiple ranges of basic pay prevailing. New Wage Code The government has come out with new…