As per the latest statistics made available by the Ministry of New and Renewable Energy (MNRE), India has a total installed renewable energy capacity of 103.05 Gigawatt as of 31st October 2021. Ministry themselves have set an ambitious target of expanding the capacity to 175-Gigawatt capacity by 2022. Prime Minister Narendra Modi has set the national […]
Goods and Services Tax GST applies to all service providers, retailers, wholesalers, and producers who are doing business in India. The registration of any business organization under the GST law is done under two categories as below: Normal scheme registration Composite Scheme registration In this blog, we will look at eligibility, benefits, disadvantages and compliances involved under […]
CARO 2020 is an amended audit report format for statutory audits of Companies covered under the Companies Act, 2013. CARO 2020 now includes additional reporting obligations after consultations with the National Financial Reporting Authority (NFRA). The goal of CARO 2020 is to improve the overall quality of audit reporting. In this article, we discuss the […]
In January 2017, India’s first international exchange was launched in the International Financial Service Centre (IFSC) in Gift City. This exchange includes trading across all asset classes such as equities, currencies, commodities, and fixed-income securities. Securities can be dealt with in the exchanges operating in the IFSC with a specified trading lot size on their […]
The Finance Bill, 2015 introduced the concept “Place of Effective Management” (POEM) to determine foreign companies’ residential status. This resulted in an amendment in the Income Tax Act, the word “control and management” was replaced with “POEM.” Accordingly, Indian companies started setting-up subsidiaries in tax havens jurisdictions and vested superficial control of their international operations to continue […]
The Foreign Exchange Management Act (FEMA) was introduced by the Government of India in 1999. It replaced the previous Foreign Exchange Regulation Act (FERA) of 1973. The FEMA Act was designed to boost external payments and foreign trades in India. FEMA is a civil law against FERA which was a draconian police law. In essence, FEMA act was a […]
The efficient implementation of the indirect taxation law, known as GST, necessitates tough penalties for tax evaders. To encourage people to comply with the GST regime in India, the government has established three key strategies: interest, monetary penalties, recovery, and suspension of GSTIN. This blog discusses the penalties and prosecution when GST return is not […]
Any business that wants to succeed in today’s competitive market must-have brand recognition and value. Trademarks are the most straightforward way for you to accomplish this. The Trademarks Act protects registered trademarks in India and specifies the rules for trademark registration and penalties for infringement. In India, trademark infringement is a cognizable offense, meaning that the offender […]
India has seen an unprecedented increase in e-commerce transactions, as has the rest of the world. So, its introduction of digital taxation at a time appears to be a step in the right direction. In this blog, we discuss e-commerce ecosystem and the necessary GST compliances. Let’s look at why there is a growing need […]
Family trusts are incredibly effective and convenient. If utilized wisely, they can be a terrific instrument for succession planning and managing assets, money, and investing in securities, as well as using the trust’s earnings for the beneficiary’s purpose. In this article, we discuss the types, advantages and the process involved in setting up private family […]
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