Business Updates

Donation to Ram Janambhoomi Mandir eligible for 80G Exemption

80g exemption for Ram Janambhoomi trust

The Tax department has announced on 8th May 2020 that Shri Ram Janambhoomi Teerth Kshetra Trust has been placed under section 80G of the Income-tax Act 1961. With that, any donation made to the Ram Janambhoomi Teerth Kshetra Trust will be totally tax-exempted under the provisions of section 80G of the Income Tax Act for … Read more

Due Date for Filing GSTR-9 and 9C Extended

gstr-9 & 9c date extended

The GST department has now extended the due date of filing GSTR-9 & 9C for all the taxpayers having the annual turnover of INR 5 crore. As we know, the entire world is facing the blight of the Novel Coronavirus pandemic, or the COVID-19. The increasing number of cases of Coronavirus infection is a matter … Read more

FSSAI Registration and License Process through e-inspection

fssai registration through e-inspection

The apex food safety regulator FSSAI has announced that processing of FSSAI registration & Licenses will be done through e-inspection.  Recently, FSSAI had updated on concerns about the manual handling of FSSAI License Applications. The Food licensing authority has now come out with a solution in the form of the e-assessments method, during the lockdown … Read more

Government Announces GST Relaxations During Lockdown 3.0

gst relaxation lockdown 3.0

The Government has introduced various GST relaxations amid the Lockdown 3.0 that will continue till 17th May 2020. As we know that the world is caught into a great economic depression due to the COVID-19 pandemic. Due to the adverse impacts of the economic recession on the Indian small businesses during COVID-19 lockdown, the Indian … Read more

Delhi Govt Imposes 70% ‘Special Corona Cess’ on Alcohol

special corona cess alcohol

Sad news for all the wine-lovers! Liquor in Delhi to become costlier from 5th May as the Delhi Government has imposed a 70% ‘Special Corona Cess’, i.e. a surcharge over and above the cost of the alcoholic beverages. In the wake of the Novel Coronavirus disease or COVID-19, the government had further extended the Lockdown … Read more

Government extends Deadlines related to Intellectual Property Rights

intellectual property rights

Due to the COVID-19 Lockdown, the Department of Intellectual property India (IPI) has extended the date of all compliances related to Intellectual property rights. Today the world is suffering from Novel Coronavirus aka COVID-19. The Indian government has placed a lockdown till 17th May 2020. This has disturbed the ordinary businesses in India. As a … Read more

RBI Relaxes PSB Bank Branch Audit Norms due to Coronavirus

bank-branch-audit-norms

Due to the outbreak of COVID-19, the Reserve Bank of India (RBI) has given relaxations to PSB banks with regard to the Bank branch audit for FY 2019-20. Today the world is suffering the pangs of Novel Coronavirus aka COVID-19, which has caused widespread economic disruption. In India, the government has placed a lockdown till … Read more

5 Tips to Avoid Delays in FSSAI Registration & Licensing

fssai registration delay

The FSSAI department has given certain tips to avoid delays in the FSSAI Registration process. Everyone is today suffering from the threat of Novel Coronavirus disease, or the COVID-19. The government has imposed a complete lockdown till 17th May 2020 to contain the spread of Coronavirus infection. The gravest concern is of the food business … Read more

GST compensation to States of ₹34K Crore Released by Government

gst-compensation-to-states

COVID-19 has affected many lives in India as well as the world. India is under complete lockdown till 17th May 2020 in a bid to stop the spread of coronavirus. The Government has now released the GST compensation to States to the tune of ₹34,000 crores. Due to the COVID-19 Lockdown, there are various challenges … Read more

No GST Reporting Details needed in Income Tax Audit Report

gst-audit-income-tax-audit

The COVID-19 pandemic has a negative impact all over the world and sent economies spinning. Initially, it entirely affected China; but, its effects are presently felt most over the world, with many countries in internment, together with India too on its web. The Indian government is attempting its best to support the business organizations and … Read more