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Exchange Rates For Customs

The Central Board of Indirect Taxes and Customs (CBIC) has notified the exchange rate for converting each of the below-mentioned foreign currencies into Indian currency via Notification No. 31/2021 – Customs (N.T) on 18 March 2021. These revised rates will be effective from 19 March 2021 for the import and export of goods. SCHEDULE-I       Foreign … Read moreExchange Rates For Customs

INC35 AGILE-PRO

As part of the Central Government’s initiative to promote the idea of ‘Ease of doing Business’, a simplified registration process for new companies was introduced (SPICe+). SPICe+ is an integrated web e-form that covers services offered by three Central Government Ministries (Ministry of Corporate Affairs (MCA), the Department of Revenue in the Ministry of Finance, … Read moreINC35 AGILE-PRO

Inflow Vs. Outflow In Budget 2021

The Union Budget of 2021 focused on 6 major sectors of the Indian economy. This Budget was designed to resonate with the Government’s vision of making India ‘Aatma Nirbhar’. Furthermore, it is structured to strengthen the nation’s marketplace and help it bounce back from the financial crises brought about by the Corona Virus pandemic. This … Read moreInflow Vs. Outflow In Budget 2021

Highlights Of Budget 2021

The Union Budget of 2021 has boosted the healthcare and infrastructure industry. Specified senior citizens, NRIs and small taxpayers can surely cheer on the Income Tax front. With the enhancement of the tax audit limit and redefining of the provisions in the Companies Act, businesses can concentrate more on upscaling, and expansion with lesser compliance … Read moreHighlights Of Budget 2021

Regulatory Compliance Portal

To reduce the regulatory compliance burden of citizens and businesses, the Department for Promotion of Industry and Internal Trade (DPIIT) launched the ‘Regulatory Compliance Portal’ on 1 January 2021. This portal aims to act as a bridge between citizens, industries, and the Government to minimise burdensome compliances. This portal will also serve as a first-of-its-kind … Read moreRegulatory Compliance Portal

Verification Of Applicability u/s 194N Of Income Tax Act

Under the Income Tax Act, 1961, a banking company (to which the Banking Regulation Act, 1949 (10 of 1949) applies), a co-operative society (engaged in carrying on the business of banking) or a post office, which is responsible for paying a sum exceeding one crore rupees (INR 1 crores) in cash during a year (to … Read moreVerification Of Applicability u/s 194N Of Income Tax Act

Balance of Payment

The analysis of the country’s ‘Balance of Payment’ is essential while determining whether their currency value is appreciating or depreciating. The Balance of Payment and the Net International Investment Position of a country together form the international accounts. In this article, we will talk about the Balance of Payment: What Is Balance Of Payment? Balance … Read moreBalance of Payment

Standard Operating Procedure (SOP) For Verification Of Taxpayers Granted Deemed Registration

To help taxpayers, the Government had enabled the Aadhaar authentication method for GST registration. With effect from 21 August 2020, the Central Goods and Services Tax Rules had provided that, ‘in cases where Aadhaar authentication is either not opted for by the applicant or when such authentication has failed, the authorised officer has to initiate … Read moreStandard Operating Procedure (SOP) For Verification Of Taxpayers Granted Deemed Registration