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MCA imposed whopping penalty of INR 18.58 Lakhs for not filing form MSME-1
MSME-1 is a form which is required to be filed by every company disclosing balance outstanding to MSME entities on a specified date beyond the period of 45 days, period of delay and reason of delay. Now, the MCA has initiate to take rigrous action against the company or officers in default who have done any non-compliance under Companies Act.
By CA. Kavit Vijay
Last update on May 14,2024
RoDTEP benefit is extended to EOU, AA Holders and SEZ Units
RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme was introduced from 1st January, 2021 and it was implemented in place of schemes prevailing earlier such as MEIS (Merchandise Export from India Scheme)/ SEIS (Service Export from India Scheme).
By CA. Kapil Mittal
Last update on March 26,2024
A Strategic Guide to Starting a Business in India with VJM & Associates LLP
To start a business in India is like entering a vast world of potential and rapid growth. Business owners looking to launch in India are drawn to its diverse consumer base and strong economy. Experienced specialists are needed in this project, and VJM & Associates LLP is a reliable partner. In addition to being a […]
By admin
Last update on February 24,2024
Procurement from Chinese Companies through GeM Portal in India
GeM (Government e-Marketplace) is a national public procurement platform. This is an online platform designed specifically for the government departments and government companies for any kind of procurement. Government bodies, i.e., Central Government, State Government, Public Sector Undertakings (PSUs) and municipal bodies, are required to place through tender on GeM and all eligible suppliers are free to submit quotations for such tender.
By CA. Sachin Jindal
Last update on October 24,2023
License required to import Laptops, Personal computer & Tablet| Applicable from 01.11.2023
With intent to promote domestic manufacturing and to improvise security measures, The Government has imposed restriction on import of Laptop, Tablets, All-in-one Personal Computers and ultra small form factor computers and servers (Falling under HSN 8471).
By CA. Sachin Jindal
Last update on August 29,2023
RBI Norms For Semi-Closed Wallets In India
Concept of Prepaid Payment Instruments (PPIs) or digital wallets or e-wallets (Electronic Wallets) has spread widely in India over the last few years. PPIs or e-wallets are almost used everywhere to procure goods and services and for transfer of funds from one person to another. Accepting payments through digital wallets also accelerates business turnover. To promote a cashless environment, digitalisation and contact less payments, the government is taking all the possible steps to promote PPIs. Various PPIs have been issued so far in India such as Bharatpe, Paytm, UPI, Phonepe etc. and PPIs is issued by both banking and non-banking companies.
By CA. Kapil Mittal
Last update on August 22,2023
Introduction to Retail Direct Scheme
The retail Direct scheme is a one-stop solution provided to Individual investors to facilitate investment in Government Securities. Under this scheme, Individual Retail investors can open a Gilt Securities Account – “Retail Direct Gilt (RDG)” Account with the RBI.
By CA. Sachin Jindal
Last update on November 21,2022
7 New Production Linked Incentive (PLI) Scheme | Micro Small and Medium Enterprises (MSMEs) are real beneficiaries
On 1st October, The government announced 7 new PLI schemes which are not part of the original program, and these schemes are provided to promote manufacturing in India. As per government officials, the PLI scheme has been very well received.
By CA. Kavit Vijay
Last update on October 18,2022
Revision in Minimum Wages by the Government of National Capital Territory of Delhi
On 11th November 2021, vide F.No.12 (142)/02/MW/VIII/Part file 4456, the Government of National Capital Territory of Delhi had revised the rates of minimum wages which shall be applicable w.e.f 1st October 2021. The revised rates in respect of unskilled, semiskilled, skilled and clerical and supervisory staff categories in all schedules employment.
By CA. Vipin Tyagi
Last update on December 10,2021
Terms of Issuance of Duty Credit under RoDTEP
Now, vide Notification No. 76/2021-Customs (N.T.) dated 23rd September 2021, the Central Government has provide the manner to issue duty credit for goods exported under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme in accordance with Foreign Trade Policy. Benefit under the scheme shall be granted subject to such restrictions and conditions as specified in this notification.
By CA. Sachin Jindal
Last update on October 12,2021