Virtual Digital Assets

Budget 2022 was an interesting Budget. There were different expectations from various stakeholders of the Indian Economy. While Salaried individuals expect an increase in the threshold limit of deductions available under Section 80C, 24(b), HRA and the like, business class expect operational reforms in the areas pertaining to indirect taxes. While MSMEs expect increased support…

HSN/SAC update under GST regime

The Central Board of Indirect Taxes (CBIC) issued Notification No. 12/2017-Central Tax dated June 28, 2017, to show specified digits of Harmonised System of Nomenclature (HSN)/ Service Accounting Code (SAC) Code on raising of tax invoices for supply of goods or services as under: S. No.Aggregate Turnover in the preceding Financial YearNumber of Digits of HSN Code1.Upto…

Aftermath of COVID-19- The Way Ahead

We are all seeing the most catastrophic event affecting the world by way of coronavirus (COVID-19). Nations across the globe have been severely affected in ways which they had least anticipated and were unprepared for. Economies of the nations have been affected, their health care systems have been severely tested and employment opportunities have been…

Permitted Economic Activities

The Honorable Prime Minister of India, Sri. Narendra Modi, in his speech on 14th of April 2020 extended the nationwide lock-down till 3rd of May 2020 in order to contain the coronavirus (Covid-19) pandemic in our country. The extended lock-down, while necessary to save human lives and contain the pandemic, would adversely impact the economy…