finance

Provisional Direct Tax collections for the Financial Year 2020-21 show growth of almost 5%

Net Direct Tax collections represent 104.46% of the Revised Estimates of Rs. 9.05 lakh crore of Direct Taxes for the F.Y. 2020-2; Advance Tax collections…

More than Rs 25,586 crore sanctioned to over 1,14,322 accounts by the Banks under Stand-Up India Scheme in 5 years

According to Ministry of Finance, the Modi government’s Standup India scheme, launched on April 5, 2016, facilitating bank credit between Rs 10 lakh…

Further operational flexibility are allowed to GST filers by Government

The government announced that those tax filers who are operating under the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme of GST,…

HSN Code/ Service Accounting Code mandatory on invoices as per revised requirement from 1st April 2021 for GST taxpayer with turnover of more than Rs 5 crore

With effect from the 1st April, 2021, it has been made mandatory for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial…

Taxpayers are free to utilise Input Tax Credit available in their credit ledger as permissible by law to discharge their GST due for March month

Unconfirmed reports have appeared in certain sections of the media that some GST officers are using unauthorised communication means such as phone…

Non-govt PFs investing in AIFs will add to MSMEs’ fundraising options, mobilise domestic capital: Experts

Enabling non-government provident funds, superannuation and gratuity funds to invest up to 5% of their size in alternative investment funds (AIFs)…

SME lender NeoGrowth Credit launches digital initiatives for small borrowers

SME lender NeoGrowth Credit Private limited, launched an end-to-end platform – diGibizz – to help small businesses become digital-ready.

The…

Uttar Pradesh government says ₹42,700 crore loan given to about 13 lakh MSMEs in FY21

The MSME (Ministry of Micro Small and Medium Enterprises) sector accounts for about 20% of the country's GDP. It is also the largest employment…