Coronavirus

Government Introduces a New Definition of MSMEs

new definition of msmes

The Government has revised the definition of MSMEs under its newly announced Atmanirbhar Bharat Special economic & comprehensive relief package of ₹20 lakh crores. The Honourable Finance Minister Smt. Nirmala Sitharaman has given the details of this economic revival package. Numerous reliefs are announced for the small MSME businesses. Very importantly, the classification of MSMEs … Read more

Income Tax Return Filing Due Date for FY 2019-20 Further Extended

Income Tax Return Filing date extend

The Government has extended the Due Date of Income Tax Return Filing for FY 2019-20 under its newly introduced Corona relief package. Today, the Honourable Finance Minister Smt. Nirmala Sitharaman has announced the Special economic & comprehensive relief package worth ₹20 lakh crores. This package is to give relief and credit support to all the … Read more

Government Announces Atmanirbhar Bharat Relief Package for MSMEs

relief package for msmes

The Government has announced the Special economic & comprehensive relief package of ₹20 lakh crores. This package is to provide relief and credit support to the MSME businesses and to revive the Indian Economy that has badly hit due to the COVID-19 lockdown. The motive is to create an “Atmanirbhar Bharat” in the battle against … Read more

PM Narendra Modi Announces a Grand Relief Package

pm modi ji addresses nation

Our Honourable Prime Minister Sh. Narendra Modi has addressed the nation on 12th May at 8 pm and has announced a grand relief package. He has discussed the ways to stop the spread of coronavirus along with boosting the economic activities, as per his motto- “Jaan Bhi, Jahan Bhi!” Since the outbreak of Coronavirus, this … Read more

GST Exempt on PPE kits: Pros and Cons

gst exempt ppe kit

The Government has exempt GST on PPE kits, and this has both negative & positive sides. As we all know the Coronavirus pandemic is unceasingly growing and no vaccine has been developed as yet. One of the essential commodities during this time is the PPE kit. The government has exempt GST on PPE kits. However, … Read more

Lockdown in Telangana now Extended till 29th May

telangana lockdown

Telangana has become the first state in the country to extend the lockdown till 29 May. The Chief Minister of Telangana Sh. K. Chandrasekhar Rao announced his decision to extend the lockdown. Further, Rao stated that the Public should buy all of the essential items by 6 pm and they must reach their residences. After … Read more

Govt Clarifies Residential Status of NRIs in India during Lockdown

residential status of NRIs

Central Board of Direct Taxes (CBDT) has recently clarified on the residential status of NRIs staying in India during Lockdown. The COVID-19 lockdown has not only brought businesses to a halt but has also changed the way of life. Besides, some important legislative changes have taken place in the past few days. Recently a change … 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