MSME Udyam Registrations: Cancellations and Business Shutdowns
As of December 8, 2023, a total of 32,298 Micro, Small, and Medium Enterprises (MSMEs) have cancelled their Udyam registration due to business shutdowns since the launch of the Udyam…
Simplifying GST for E-commerce MSMEs: Stakeholders’ Recommendations
In a roundtable discussion organized by MSME representative body FISME, various stakeholders, including MSMEs, tax experts, and members of Parliament, emphasized the need for measures to simplify the Goods and…
ITR Filing: What are the disclosure requirements for Indian residents who hold foreign assets?
Indian residents holding foreign assets are required to make specific disclosures in their Income Tax Return (ITR) filing, specifically in Schedule FA of ITR-2 or ITR-3. This applies to residents…
MSMEs’ Contribution to India’s Exports Declines: Government Data
As of September in the current fiscal year, Micro, Small, and Medium Enterprises (MSMEs) accounted for 45.56% of India's exports, according to government data. Despite the overall growth in India's…
Finance Ministry’s Emphasis on GST Inclusion for All Businesses
Finance Minister Nirmala Sitharaman emphasized the Finance Ministry's commitment not only to boosting GST revenue but also to bringing all business establishments within the GST framework. Speaking at the inauguration…
Navigating New Regulations for Small Businesses in 2024
In 2024, small businesses are required to register with the Financial Crimes Enforcement Network (FinCEN) due to the Corporate Transparency Act passed in 2021. Aimed at uncovering shell companies and…
DOMS Industries IPO Oversubscribed: Closes at 5.71 Times Subscription
The initial public offering (IPO) of pencil manufacturer DOMS Industries witnessed rapid investor interest, getting fully subscribed within hours of opening and concluding with an impressive 5.71 times subscription. The…
Delhi High Court Sets Deadline for Government’s Drug Sale Policy
The Delhi High Court has issued a final ultimatum to the Centre, granting it eight weeks to formulate a policy on the online sale of drugs. The court expressed dissatisfaction…
Government Seeks Supreme Court Consolidation of GST Online Gaming Cases
In a move to streamline the adjudication process, the Indian government is contemplating a request to the Supreme Court to consolidate all Goods and Services Tax (GST) online gaming cases…
Nat Habit Secures $10.2M Funding Led by Bertelsmann, Plans Aggressive Expansion
In a significant funding round, Direct-to-Consumer (D2C) beauty and wellness startup Nat Habit has raised $10.2 million in a series B funding, with Bertelsmann India Investments (BII) leading the investment.…
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