The primary focus of every economy has been on increasing the ease of doing business for its people. To achieve this, various relaxations have been given to businesses so that they can put their efforts and resources on their core profit-generating activities rather than getting trapped in the burden of compliances despite having a low…
Almost 4 years have elapsed since the introduction of GST Law in India in mid-2017. As the GST Law is in its nascent stages, interpretation of the law and its implementation has become a challenging task for the taxpayers. Not only taxpayers, but GST departments of several states are also facing such challenges. Nowadays, as…
From the inception of the F.Y. 2020-21, the Indian economy has suffered a downfall owing to the damage caused by the Corona pandemic. The majority of the sectors were hit hard due to the suspension of business activities for a longer duration, but the SME & MSME sectors were the worst hit by the pandemic…
In the fast-changing business dynamics, business restructuring has become a norm whereby businesses undertake activities such as merger – wherein two or more entities come together to form a new entity, resulting in the old entities ceasing to exist; or amalgamation – wherein one or more entities are subsumed into an existing entity such…
As we discussed in the last blog about certain GST provisions to be fulfilled under demerger of a company, here in continuation of the last blog we discuss some more GST provisions which need to be catered to comply with GST LAW: – Annual Return and Final Return As per Section 44 of the CGST…
