A small-scale manufacturing company with operations in only one state will have to file a minimum of 37 returns instead of the current 13 once the goods and services tax (GST) goes live from July 1, increasing work for industry, accountants and banks, according to an IndiaSpend analysis. With the…
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How to correct errors in GST registration?
You have registered for GST and now you have discovered there is an error in your GST registration. Will it mean that you have to scrap your entire GST registration and apply for a fresh one? Not at all! You can rectify any mistakes or change any of the details given in the application for [&hell…
GST: Impact on SMBs, technology services & start-ups
The Lok Sabha has passed the Goods and Services Tax (GST) bill and the rates for goods and services have been determined, clearing the path for the most significant tax reform in post-independence India. While GST has been hailed as a much-needed overhaul of the indirect tax system, many small an…
IIA finds anomalies & discrepancies in GST rate schedules, submits representation to GST Council
Indian Industries Association (IIA) – the apex representative body of Micro, Small and Medium Enterprises (MSME) in consultation with more than 7000 MSME members carried out a detailed study on the GST rates announced by GST Council for Goods and Services. The study revealed that there are …
GST Council forms 18 groups to sort out industry worries
The GST Council has set up 18 sectoral groups to interact with the sectors like telecom, banking and export and sort out their issues in a time-bound manner for a smooth transition to the new indirect tax regime. These sectoral working groups consist of senior officers from the Centre and states …
Textile units fret over 18% GST, fear job cuts
The textile industry has said it is worried over government’s decision to impose 18 per cent GST on manmade fibre as the levy will dent the margins of firms manufacturing synthetic yarn and could lead to job losses. The industry is also uneasy about the effect on jobs like weaving, knitting…
UN cites Indian start-up fund for govt policies on developing digital sector
The World Investment Report 2017: Investment and the Digital Economy, released by the UN Conference on Trade and Development (UNCTAD) cited the ‘India Aspiration Fund’ to say that government policies can actively support investment in local content and services and in the development …
Jindal Stainless, FVCCL launches Incubator for Agritech start-ups
Jindal Stainless Ltd. has formed the collaboration with the Japanese company Future Venture Capital Company Ltd. (FVCCL) to launch an incubation centre for agritech startups in India. The announcement was made at the ‘Krisi Unnati’ event organised by the Confederation of Indian Industry (CII) in …
The Embassy of Israel & Startup India launch Start TLV Competition to encourage women-led tech start-ups
Continuing to encourage women in innovation, the fifth edition of the Start TLV Competition was officially launched in India June 8. The Embassy of Israel in India is following up the competition after last year’s success and will focus on women-led Startups under 25 years of growing partnership …
US launches incubator programme to mentor Indian start-ups
The US government is looking to mentor Indian start-ups, hoping that some of them would scale up their operations and set up shop in that country. The US State Department has begun a start-up incubator programme, Nexus, in association with the IC² Institute of The University of Texas at Austin, i…