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In the 2026-27 Union Budget, the Federation of Associations of Cottage and Small Industries (FACSI) insisted that the government provide support in the form of tax breaks, easier access to loans, and simpler regulations for small businesses. They believe these changes will help these businesses grow and play a stronger role in the overall economy. […]
The Indian Micro-Fertilizers Manufacturers Association (IMMA) has formally solicited revisions from the central government in advance of the upcoming Union Budget. Among their key proposals are the extension of the 5% Goods and Services Tax (GST) to encompass all fertilizers regulated under the Fertiliser Control Order, the acceleration of GST credit refunds to enhance liquidity […]
The Government has ensured that 39,446 MSMEs discontinued operations and shut shop in the Financial Year 2024-25, with the Union Government attributing the deregistrations to multiple business-pertinent factors instead of a single trigger. The information was disclosed after a direct question raised in the Lok Sabha by Abhishek Banerjee, asking details on whether more than […]
The GST refund processing has been increased by the Delhi government. Till now, it has disbursed a record of Rs 694 crore, Chief Minister Rekha Gupta declared, citing it as an initiative of her administration for ease of doing business. Officials, between April and September of FY 2025-26, the Department of Trade and Taxes has […]
In India, the Goods and Services Tax (GST) system represents a significant step in easing the collection of taxes on goods and services. An update has been launched by the government called GST 2.0, which revises the way taxes are structured to make the system simpler to comprehend, transparent, and effectively suited to the requirements […]
The Bombay High Court has ruled that interest earned on fixed deposits and TDS refunds related to business activities are eligible for deduction under Section 80IA of the Income Tax Act. This decision provides clarity on the classification of these income types in the context of tax deductions. Tax incentives for businesses are being given […]
The Supreme body of Chartered accountants, ICAI, cited that the new income tax bill provides a simple and transparent framework that facilitates the operations of business and supports the objective of India to become the most perfect destination of investment. A new income tax bill has been passed by the Parliament to supersede the 60-year-old […]
In this post, we have discussed a detailed description of how GST software assists transport and logistics businesses in handling their tax obligations, improving compliance, and boosting overall efficiency. For any economy, the transport and logistics industry is necessary, since it ensures that goods move from one place to another, both within and between countries. […]
The Government of Karnataka and the Tax Department, addressing rising concerns among small business owners over GST demand notices and compliance, have organised a tax awareness workshop in Bengaluru city. Meera Suresh Pandit, Joint Commissioner of GST, is leading the session, highlighting key issues and clarifying confusion regarding GST demand notices, registration requirements, and compliance […]
