Taxes

16th January, 2016 marked a significant milestone for startups in India, with the Government of India announcing the “Startup India Action Plan” amidst much fanfare in the presence of the Prime Minister Mr. Narendra Modi, some of his

Note: The above is as applicable for a sole proprietor (i.e. an individual running his own business). In case of Partnerships and Companies, additional documents such as partnership deed, incorporation certificate, Memorandum & Articles of Association etc. will be required, depending on the type of entity.

You all are aware that the new Indirect tax system namely Goods & Services Tax (GST) would replace the present Central Excise Duty, Service Tax at the Central level and State
VAT, Central Sales Tax, Entry Tax at the State Level, in the near future (exact date of implementation of GST is yet to be announced).

On 13.05.2020 the Honorable Finance Minister Nirmala Sitharaman announced measures for relief and credit support to businesses and MSMEs to support Indian Economy’s fight against
COVID-19. Highlights of the same are as follows: