CUSTOM CIRCULARS Extension of validity of Authorized Economic Operator (AEO) certification for case of renewal process Validity of all AEO certificates expired or expiring between March 01, 2020 and May 31, 2020 has been extended to June 30, 2020. However, extension in respect of entities…
TRADERS REGISTRATION AS MSME’S – POSSIBLE SOON ?? During a meeting of Shri Nitin Gadkari, Union Minister for MSME and Road Transport and Highways with the representatives of Council of Leather Export, FICCI-‘NBFC Program’ and IMC Chamber of Commerce and Industry on impact of COVID-19…
What is SEIS ? Exporter of certain Services are given incentives in form of Duty Credit Scrip which are freely transferable. These incentives are given to offset infrastructure and associated costs involved. Duty credit Scrip’s (herein after referred to as ‘scrips’) can be used for…
Sources and Credits: MSME Website What is the definition of MSME? The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under: MSMEs will now…
Finance Minister Smt. Nirmala Sitharaman officially launched facility of instant Permanent Account Number (PAN) allotment using Aadhaar based e-KYC on May 28, 2020. Through this facility PAN will be allotted on near to real time basis. This facility is paperless and free of cost. The…
ITR-1 form for A.Y. 2020-21 released for e-filing by Income Tax Department. What is Income Tax Filing Process? Income Tax Filing is the process of declaring your taxable income, deductions and tax payments for the applicable financial year. What is the due date for ITR…
ITR-1 & ITR 4 forms for A.Y. 2020-21 released for e-filing by Income Tax Department. Who are eligible to file ITR-4? An Individual, HUF or Firm (other than LLP) who is ordinarily resident in India Income from salary/pension (for ordinarily resident person). Income from one…
Project Office (PO) means a location of business to constitute the interests of a foreign company, executing a project in India but excludes a Liaison Office. A project office in India is prohibited from undertaking or carrying on any activity other than the activity in…