To identify cases of fraudulent claims under Goods & Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics and Artificial Intelligence (AI) tools based on which certain taxpayers are taken up for further verification. Moreover, a standard operating procedure has been prescribed for …
The Ministry of Corporate Affairs (MCA) administers Companies Act/ Limited Liability Partnership Act. The MCA has been taking steps on an ongoing basis by amending the Act and the rules and forms thereunder, from time to time in the years 2015, 2017 & 2019, to reduce the cost of compliance and for ease of doing business. This …
Union Minister for Micro, Small and Medium Enterprises and M/o RT&H, Shri Nitin Gadkari informed the Lok Sabha in a written reply today that 5,87,416 employment opportunities were created by giving margin money subsidy of Rs. 2070 crore to 73,427 projects during the year 2018-19. The Ministry of MSME implements credit linked subsidy scheme namely …
There is no proposal currently under consideration of the Government to capitalise private banks. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today. He further stated that capital infusion provision of Rs. 10,000 crore in India Infrastructure …
The Finance Bill, 2020 proposed to remove Dividend Distribution Tax (DDT) at the level of Company/ Mutual Fund and proposed to tax the same in the hands of share/unit holder. It was also proposed to levy TDS at the rate of 10% on the dividend/ income paid by the Company/Mutual Fund to its share/unit holder …
Highlighting the importance of nurturing a caring society, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, unveiled several key proposals with focus on women and child, and on social welfare, in the Union Budget 2020-21 presented in Parliament today. Women and Child In her Budget speech in the Lok Sabha, the Finance …
The Government is committed to support the Micro, Small & Medium Enterprises (MSME) which is an important sector of the Indian economy that fosters entrepreneurship and generates employment opportunities at lower capital cost. The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2019-20 in Parliament today. The Economic Survey …
In order to reduce the compliance burden on small retailers, traders, shop keepers who comprise the Medium, Small and Micro Enterprise (MSME) sector, the Union Budget proposed to raise by five times the turnover threshold for audit from the existing Rs. 1 crore to Rs. 5 crore. While presenting the Union Budget 2020-21 in Parliament today, …
Services offered through MSME Global Mart Portal developed by National Small Industries Corporation, a PSU under the Ministry of MSME, include online registration, web store management, multiple payment options, customer support through Call Centre and enhanced security features. Ministry of Micro Small and Medium Enterprises (MSME) implements Credit Linked Capital Subsidy Scheme, Credit Guarantee Scheme …
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman has said that Entrepreneurship has always been the strength of India and our young men and women have been contributing to India’s growth with their entrepreneurial skills. She was presenting the Union Budget 2020-21, in Parliament, here today. We recognise the knowledge, skills and …