MSME-1 is a mandatory filing if there are payments made to MSME vendors after 45 days of invoice/acceptance. Kindly fill the required details in the attached file "MSME-1 Requirements" for filing Form MSME-1 for the period October 1, 2023 to March 31, 2024 and filed with MCA by 30th April, 2024....
Continue readingForm MSME-1 to be mandatorily be filed by 30th April, 2024 (during the period 1st October, 2023 to 31st March, 2024) if the Company has not paid any MSME vendor for a period of 45 days from the date of acceptance of bill. ...
Continue readingWe are pleased to present our monthly newsletter for the month of April 2024...
Continue readingDear All, Please find attached the following compliances related to Companies Act, 2013 for April 2024 (part of Q1 FY24-25 MSME-1 filing: We need your confirmation & Data on MSME compliances by your company for the period October 1, 2023 to March 31, 2024. Please find the detailed note and the checklist attached for your reference and use. Applicability of MSME Form MSME working for 1 Oct 23 to 31 Mar 24 Kindly contact us for the MSME filing with details by 20th April, 2024. The last date for filing MSME-1 for the period October 1, 2023 to March 31, 2024 is 30th April, 2024. 2....
Continue readingPlease note that the DGFT has issued a notification with respect to ‘requirement for renewal of IEC’ each year. Accordingly, An IEC holder has to ensure that the details in its IEC is updated electronically every year, during April-June period. In cases where there are no changes in IEC details, the same need to be confirmed by the IEC holder online. ...
Continue readingWe present a compliance calendar for the due dates in the month of April 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
Continue readingAs the financial year 2023-2024 is coming to an end, there are certain statutory requirements which need to be addressed within 31.03.2024. Among them the following points which should be focused on priority basis: 1. Stock verification 2. Income tax related compliance 3. Tax deducted at source 4. Company law related compliance 5. Micro, Small and Medium Enterprises (MSME) related compliance 6. GST Compliances 7. Others Please find attached the detailed note in this regard....
Continue readingThe Finance Act of 2023 inserted a new clause (h) in income tax section 43B that allows deductions made to MSMEs on an actual payment ground rather than the accrual basis if the payment is made within the time limit. A brief note is prepared on this new clause. ...
Continue readingWe are pleased to present our monthly newsletter for the month of March 2024...
Continue readingOn 10th January 2024, the Government of Karnataka published the Karnataka Compulsory Gratuity Insurance Rules, 2024 (‘New Gratuity Insurance Rules’) to prescribe the requirement for employers to obtain a valid insurance policy for the employer’s liability towards payment of gratuity to eligible employees as per the Payment of Gratuity Act 1972 (‘Gratuity Act’). As per the New Gratuity Insurance Rules, every employer must obtain insurance from LIC or any other prescribed insurer for payment of Gratuity liability to the employees. The Existing employers are required to comply with this requirement within 60 days from the effective date of these rules (i.e.,...
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