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  The Goods and Services Tax (GST) is an all-encompassing multi-step destination-based tax that is assessed on any and all value added. The GST’s key benefits include transforming India into a single market by eliminating interstate obstacles, taxing inequalities, check post delays, and challenges with transit permits. The use of illicit money and corruption are also reduced. Additionally, because firms may now use input tax credits in all States, the GST will save them money. The reduction in the overall tax burden on products and services will benefit the final consumer. Thus, GST Registration is beneficial for innumerable ways What is GST Registration? Any business organization that registers under the GST Law gets a special identification number (GSTIN) from the relevant tax authorities in order to collect taxes on behalf of the government and claim input tax credits for the taxes paid on his inward supplies. In short,  GST Registration  is the process to obtain the ...

  Barcodes have become an essential part of modern retail systems, as they allow for efficient tracking and management of products. In India, barcodes are regulated by the Bureau of Indian Standards (BIS), which is responsible for issuing barcode numbers and ensuring compliance with national standards. It's important to note that a barcode is not just a number, but it's a combination of number and product details, this is why BIS review the application carefully. Once a company has been issued a barcode registration number, it can be used to label products for sale in India. It's also important to note that barcode numbers are unique to each product, so if a company wants to sell multiple products with barcodes, it will need to apply for and be issued a unique barcode number for each one. What is a Barcode in India? A barcode is a machine-readable representation of data that is used to identify items or products. It is typically represented by a series of vertical line...

 With a total market size of over US$ 13.1 billion, the FMCG industry in India ranks fourth in terms of economic size. Consumer packaged goods is another name for Fast Moving Consumer Goods (FMCG) products. All consumables that people regularly purchase (apart from food and pulses) fall under this category. Among all the sectors of the Indian economy, FMCG is also one of the ones with the quickest growth. Learn about the Impact of GST registration on FMCG Sector through this article.  Cost Savings in Logistics GST's effects on FMCG The FMCG industry would also profit from GST because it would reduce logistics costs significantly. The FMCG sector presently accounts for 2-7% of overall costs in distribution; after the implementation of GST, this percentage is anticipated to fall to 1.5%. There will be a decrease in the cost of shipping and storing goods as a result of the GST regime's better supply chain management, tax payment, input credit claim, and absence of CST. It is ant...

  Smt. Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs, led the 47th GST Council meeting in Chandigarh. Along with top officials from the Ministry of Finance and the States/UTs, Union Minister of State for Finance Shri Pankaj Choudhary also attended the meeting.   47th GST Council Meeting: GST Rate Hiked on Goods 47th GST Council Meeting: GST Rate Hiked on Services 47th GST Council Meeting: GST Rates Reduced on Goods & Services 47th GST Council Meeting: Withdrawal of Exemptions GST Exemptions on Services being Rationalized GST on racetracks, casinos, and internet gaming Clarification on GST rate Clarification in relation to GST rate on Services Measures for streamlining compliances in GST visit here for more information >>  https://www.e-startupindia.com/learn/47th-gst-council-meeting-latest-gst-updates-and-highlights/ Moreover, If you want any other guidance relating to  GST Registration , please feel free to talk to our business adv...

  Any individual who is interested in starting a business in the food industry in India needs to obligatorily apply for an FSSAI licensing as per the FSSAI Regulation 2011. Depending on the type of company, the Government has different thresholds set; passing which, there is an obligatory necessity to apply for the FSSAI Registration License. If you wish to start any food business related to food, you must know all about FSSAI Registration Category.   What Do You Mean By Food Categorization Code? FSSAI converts each food item into a code that implies each food item relates to a unique number that lets you quickly recognize a food item. When do we need a Food Categorization Code? The Food Safety and Standards Authority of India decided to classify the Food Product Category in the food safety compliance system (FoSCoS) under the General Manufacturing type of company, in order to speed up the licensing/registration of small and medium food enterprises. How do we decide the Food F...

It is said that Indian farmers represent the majority of the Indian workforce. It is the major source of income for most rural Indians. The whole country depends totally on agriculture for the basic necessities of food. That is why the government has launched a number of plans and benefits to increase agricultural income. In the end, there are important details for farm income tax that you should know before you file the ITPR. In the following article, you will find out about farm income tax. How do we define income from agriculture? Pursuant to section 2(1A) of the Income Tax Act, activities that produce agricultural income must meet certain criteria. According to the section's definitions, farm income can be derived from these sources: Income from farming comes from renting or renting farmland in India. Income from farming comes from renting or renting farmland in India. Profits from the commercial sale of farm property from the ownership of farmland. A substantia...

Important note: You are no longer exempt from taxation on interest that you earn on your PF contributions. Taxes will be deducted by the EPF organization and starts on April 1st, 2022. This announcement comes following an announcement made by Financial Minister Nirmala Sitharaman in her budget 2021 speech. Therefore, it is essential for everyone, including business owners as well as non-government employees and government employees to know the latest information regarding the taxation of interest earned on the PF. This article will help you'll be aware of the most recent update to your contributions to PF. The earlier regulations for interest earned on PF The section 80C in the Income Tax return filing Act offers a tax exemption for the three funds PPF, GPF, and EPF funds. The Income Tax Act exempts the earnings earned, the money made, as well as the accrued interest resulting from these schemes from taxation. In simple terms according to earlier regulations, you weren't requi...