Udyam Registration and New Classification for MSMEs – All You Need to Know.

I. New Classification for MSMEs As announced as a part of economic stimulus and reforms in response to Covid 19, the Ministry of Micro, Small and Medium Enterprises has modified the classification criteria for MSMEs as follows- Existing Criteria- New Criteria (Applicable from 1st July 2020)- Note: All units with GSTIN listed against same PAN …

Atmanirbhar Bharat- Actual Fiscal cost of the INR 20 lakh crore package & Who gets what?

The Finance Minister of India, Nirmala Sitharaman announced the various measures of the 20 lakh crore relief package over five tranches. However, these also included the relief announced by the Finance Minister earlier and liquidity measured provided by the RBI. Here is the breakup of the INR 20 lakh crore package-   However, as per …

Atmanirbhar Bharat: Taxation Relief – Is it a Real Relief?

Starting off with a genuine question, does mere deferment of taxes mounts to reliefs? The taxation reliefs provided in the "Aatmanirbhar India Economic Relief Package" may be more of the nature of deferment of incidence, rather than providing actual monetary relief. The Taxation Reliefs announced by Hon’ble Finance Minister are as follows :TDS/TCS Rate reduction …

Atmanirbhar Bharat- A 20 lakh crore project underway- All you need to know

On 12th May 2020, India's honourable PM addressed the nation and announced an economic stimulus package of INR 20 lakh crore, amounting to ~10% of the country's GDP. The primary aim of the package was to make India self-reliant and self-dependant in terms of production and services. https://www.youtube.com/watch?v=P4QjOhu9eIQ This is how India compares to other …

Mukesh Ambani bails out Anil Ambani, Jet runs into more troubles, Hostile takeover of Mindtree- Weekly Digest #80

Monday- 18th March 2019 Mukesh Ambani helped his brother Anil from imprisonment by paying money owed by him to Ericsson. The bailout came in critical time as Tuesday was the deadline for Anil’s RCom to clear ₹580 crore due to the Swedish equipment maker. L&T has bought a 20.32% stake in Mindtree for ₹3,269 crore …