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The government’s commitment to MSMEs is outlined in the Union Budget 2026 through various announcements aimed at improving liquidity, facilitating compliance, and strengthening the formal business environment. The important thing specified under the Finance Minister’s Budget speech is the need to reduce operational hassles for Micro, Small, and Medium Enterprises (MSMEs), particularly concerning taxation, credit […]
President Droupadi Murmu announced that the Union government is committed to making significant changes that will positively impact the lives of poor and middle-class citizens. These changes include new tax reforms that aim to make the tax system fairer and more efficient, helping to ensure that more people benefit from government policies. The President, addressing […]
In today’s fast-changing business environment, companies in India must adopt Goods and Services Tax (GST) e-invoicing. It is not merely about compliance; the right e-invoicing software can enhance business operations, improve efficiency, and streamline management. Businesses today face an important decision: should they opt for a free e-invoicing solution or invest in a more advanced […]
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. […]
In India, the digitalisation of GST compliance has created both opportunities and challenges for businesses, leading them to rely on private GST software as well as the official GST Network (GSTN) portal to manage their returns efficiently. Both solutions aim to facilitate GST compliance, but they differ significantly in functionality and usability. Recognising these differences […]
In the next 57th meeting, the GST council may acknowledge a tax reduction on air and water purifiers because of the poor air quality across the country, and access to safe drinking water remains uneven. The council can analyse reducing the goods and services tax (GST) on air and water purifiers for domestic use from […]
N Jaideep Reddy, president of CREDAI Hyderabad, stated that subsequent reforms in the GST framework for the restoration of ITC are important to keep housing affordable and sustain demand in Hyderabad’s real estate market. Relief was provided through recent GST rationalisation, but the absence of GST input tax credit (ITC) continues to increase project costs, […]
On readymade garments and clothing accessories priced exceeding Rs 2,500 per piece, the Central Government, following recommendations of the 56th GST Council meeting, has increased the Goods and Services Tax (GST) rate to 18% from 12%. W.e.f September 22, 2025, the revised rates shall come into force, the Ministry of Finance informed the Lok Sabha. […]
As per the Government of India, the recent GST rationalisation shall deliver growth to cooperatives engaged in dairy, food processing, agriculture, and rural enterprises. The Union Minister of Cooperation Amit Shah, in a written reply to the Rajya Sabha, has shared the information. Dairy Sector to Gain from Lower GST The GST rate on milk […]
