GST, a comprehensive indirect tax system, is a few months away from rollout. Businesses need to understand the implications of GST on various day to day operations.
Contributing enormously to the socio-economic development of the country, MSMEs today are considered to be the supplementary units to large industries.
As Union Budget 2016 is around the corner, main expectation of city industrialists and businessmen is a hike in the excise duty limit, taking it up to Rs5 crore and a reduction of corporate tax from 30% to 20%.
The definition of a start-up should be from date of commencement of business and not from date of incorporation of company, says Neeraj Mittal, JMD, Bonita India