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Ministry of Micro, Small and Medium Enterprises has issued an amendment to the original notification No. S.O. 2119 (E) dated 26.06.2020 vide 2347(E) dated 16.06.2021, extending the validity of EM Part-II and UAMs from 31.03.2021 to 31.12.2021. This would facilitate the holders of EM Part-II and UAMs to avail benefits of the provisions under various…
Read More “Ministry of MSMEs Extends Validity of Udyog Aadhaar Memorandum” »
GeM has facilitated 67.27 lakh orders worth 111,113 Crores from 18.85 lakh registered sellers and service providers for 52,275 Govt buyers.
The Employees’ Provident Fund Organization (EPFO) has made a new announcement to provide relief to its subscribers during the second wave of the Covid-19 pandemic. Now you can avail the non-refundable (non-refundable) Covid-19 advance for the second time from your PF account. The provision of special clearance was made for the first time in March,…
Read More “EPFO Allows to available second covid-19 advance to Member” »
Following measures have been taken for promotion of Micro, Small and Medium Enterprises (MSMEs) in defence production sector:- Cases with Acceptance of Necessity (AoN) cost < Rs 100 Crores are reserved for MSMEs, provided there are at least two or more MSMEs eligible to participate in the category. In order to encourage startups/MSMEs, procurement cases…
Chartered accountant firms and hospitals are under scrutiny after the revenue department found mismatches between their income tax and indirect tax filings. Tax authorities have also decided to slot consultant doctors as ‘intermediaries’ for taxation purposes even as medical services are outside the purview of goods and services tax (GST), people aware of the development…
Read More “Chartered accountant firms, hospitals under taxman’s lens” »
The provisional payroll data of EPFO published on 20th February, 2021 highlights a positive trend for net subscribers base growth with addition of 12.54 lakh subscribers in the month of December, 2020. The data reflects increase of 44 % in net subscribers addition over the previous month of November, 2020. Year on year comparison of payroll data shows…
Read More “Payroll data: EPFO adds 12.54 lakh net subscribers in December, 2020” »
The number of companies incorporated from April, 2020 till December, 2020 (COVID 19 period) in the Financial Year 2020-21 (till 31-12-2020) compared to corresponding period from April, 2019 to December, 2019 in the Financial Year 2019-20 (till 31-12-2019) has actually increased by about 21% as is evident from the following details: This was stated by…
Document Startup India Seed Fund Scheme (SISFS) has been approved for the period of next four years starting from 2021-22. It will be implemented with effect from 1st April 2021. The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Rs. 945 Crore corpus…
As a measure which directly benefits Startups & Innovators in the country, especially those who are supplying products & services on e-commerce platforms, and in order to bring in more unincorporated businesses into the organized corporate sector, the incorporation of One Person Companies (OPCs) is being incentivized by amending the Companies (Incorporation) Rules to allow…
With the implementation of GST, 2017 saw a complete change in the way we used to pay our taxes. Scroll down for more details on how the government of India gets it money and pick the trend you want to see: personal income tax, corporate taxes, service tax, excise or customs duties. SOURCES OF REVENUE…