The redefined role of MSME classification aims to boost business and entrepreneurship, recognizing them as the backbone of the economy. It is designed to promote entrepreneurship and self-employment in India. Here are the key features: 1. Promotion of local manufacturing: The government encourages local production and reduces dependence on imports through incentives and subsidies. This […]
Micro, Small, and Medium Enterprises (MSMEs) play a vital role in the growth and development of economies worldwide. In India, MSMEs are considered the backbone of the economy, contributing significantly to employment generation and industrial production. To promote and support these enterprises, the Indian government has implemented various policies and initiatives. Let’s explore the classification […]
Budgets have come and budgets have gone. Ruling party is happy, opposition party is not. We need an FM who can balance. The experts have given this budget more than 7 out of 10, which is really good. The FM has done a balancing act by satisfying everyone who do not want tax increase and […]
BUDGET ASPIRATIONS is always from a Country Citizens, Business, Additional tax Source is what your FM looks in As part of our yearly Budget wish list to the FM, Total Solutions would like to first and foremost suggest Additional Tax Source from avenues that have not been taxed for so many years. The next step […]
Liaison Office: As per FEMA rules, liaison office means a business to act as a channel of communication between the principal place of business or a head office and entities in India. Foreign companies can open a liaison office in India Foreign Branch office: An entity having a net worth of not less than USD 100,000 […]
The Legal metrology Act – Today we are discussing about this Act. This was introduced in 2009 and came into force from 1st April 2011 to replace the Weights & Measures Act of 1976. The main agenda of the Act was to enforce the standards of Weight & Measures and to regulate Trade & Business […]
SEZ (Special Economic Zones). SEZ has two types namely, SEZ developers and SEZ units. Today, we are not dealing with developers. We are going to explain only about SEZ units. However, SEZ developers are the people who provide infrastructure facilities and places of operation for SEZ units. These are deemed to be outside the customs territory. […]
Looking forward to building your career in accounts? Understand the reasons for failure in interviews. Did you know that most of the companies that take young passouts as Accountants, say out of 100 companies 95, use Tally as their accounting software? So, what should be the next step? Simple…..Join a Tally program much before you […]
GST – is now entering the fifth financial year, went through a lot of hurdles, changes, faced economic recession, COVID threat, nearly hated by all stakeholders, stood resolute and determined. Our KEY takeaway thus far from GST with respect to ACCOUNTANTS & our trade: • One should no longer delay filing of GSTR 3b by […]
Recently several Accountants asked me why TALLY is the preferred software used by most entrepreneurs. The one answer that came to my mind was that TALLY has stood the test of times & worked with MSME to provide the reliability. It corrected itself to provide value additions. Started working with Professionals and last but not […]