As part of the continuing opposition from industry bodies to the ‘Equalisation Levy’ that came into effect earlier this year, the Internet and Mobile Association of India (IAMAI) and law firm Nishith Desai Associates, in a white paper released on Tuesday, said the measure would hurt Indian startu…
Tag: GST
GST rollout looks unlikely by April 1, 2017
New Delhi: The Centre and states failed to approve the GST laws on December and agreed to meet on December 22 and 23 to hammer out a consensus, dashing hopes that the crucial bills would be introduced in the ongoing winter session of Parliament and making it tough to meet the April 1rollout date …
Lesson from Demonetisation: Getting into new tax regime without tech preparedness might be counterproductive for GST
The large-scale withdrawal of currency notes from circulation in India has implications for the impending GST to be adopted by the country. There are concerns over whether the expected contraction in economic activity following demonetisation will impact state revenues adversely. As the Finance M…
Govt mulls hiking withdrawal limit for MSMEs
The Micro, Small and Medium Enterprises (MSME) Ministry will seek from the Finance Ministry higher withdrawal limit of Rs2 lakh per week for small and medium enterprises to ease their cash crunch that has followed the government’s demonetisation of high value currency notes. “We are having a disc…
Diversification makes MSMEs more attractive for lenders: CRISIL
Diversification of business model — by geographical reach, product range, and customer base — carries a lot of weight in credit risk assessments. So a well-diversified MSME will have a credit-quality edge over peers with concentrated businesses. CRISIL’s analysis of the financials of over 1,000 M…
Deskera claims to be the first GST compliant cloud software provider in India
Reports circulating the web reveal the compulsion to roll out GST by Sep 16, 2017. With businesses gone online, and a trend inclined towards cloud and data analytics, many would look for software services to help build their business function smoothly. Pune-based Deskera is one such service provi…
Demonetisation will promote transparency in SME ecosystem | ASSOCHAM Regional Director Perminder Jeet Kaur
Demonetisation and GST are in currency. The impact of these two key economic policy decisions on business in general and small businesses in particular is a matter of debate. Leading industry chambers are seized of the opportunities and challenges that lay ahead in view of initiation of these two…
Demonetisation | Impact assessment
India had its own 9/11, as it woke up to the demonetisation of high-value currency notes. It is arguably the boldest, newest, largest, riskiest and most influential reform since 1991. This exercise would cause inconvenience to everyone in the country in the short term but prove helpful in the med…
GST will drive up compliance costs: AIMO
The All India Manufacturers’ Organisation has expressed concern that the proposed GST will drive up compliance costs and time because of involvement of multiple agencies and complicated paper work. The 75-year-old organisation with a countrywide network finds that the manufacturing units will hav…
States demand control of SME taxes under GST
Kerala, West Bengal, Delhi and Odisha are likely to play hard at the Goods and Service Tax (GST) Council meet scheduled next week, with their demand to have full control over business and institutions with turnover below `1.5 crore. “Majority of states want a combination of vertical and horizonta…