InCorp Advisory 
As per the latest statistics made available by the Ministry of New and Renewable Energy (MNRE), India has a total installed renewable energy capacity of 103.05 Gigawatt as of 31st October 2021. Ministry themselves have set an ambitious target of expanding the capacity to 175-Gigawatt capacity by 2022. Prime Minister Narendra Modi has set the national […]
Goods and Services Tax GST applies to all service providers, retailers, wholesalers, and producers who are doing business in India. The registration of any business organization under the GST Law is done under two categories which are as under: Normal scheme registration Composite Scheme registration In this article we will take a look at eligibility, benefits, disadvantages […]
CARO 2020 is an amended audit report format for statutory audits of Companies covered under the Companies Act, 2013. CARO 2020 now includes additional reporting obligations after consultations with the National Financial Reporting Authority (NFRA). The goal of CARO 2020 is to improve the overall quality of audit reporting. In this article, we discuss the […]
In January 2017, India’s first international exchange was launched in the International Financial Service Centre (IFSC) in Gift City. This exchange includes trading across all asset classes such as equities, currencies, commodities, and fixed-income securities. Securities can be dealt with in the exchanges operating in the IFSC with a specified trading lot size on their […]
The Finance Bill, 2015 introduced the concept “Place of Effective Management” (POEM) to determine foreign companies’ residential status. This resulted in an amendment in the Income Tax Act, the word “control and management” was replaced with “POEM.” Accordingly, Indian companies started setting-up subsidiaries in tax havens jurisdictions and vested superficial control of their international operations to continue […]
The efficient implementation of the indirect taxation law, known as GST, necessitates tough penalties for tax evaders. To encourage people to comply with the GST regime in India, the government has established three key strategies: interest, monetary penalties, recovery, and suspension of GSTIN. This blog discusses the penalties and prosecution when GST return is not […]
Any business that wants to succeed in today’s competitive market must-have brand recognition and value. Trademarks are the most straightforward way for you to accomplish this. The Trademarks Act protects registered trademarks in India and specifies the rules for trademark registration and penalties for infringement. In India, trademark infringement is a cognizable offense, meaning that the offender […]
India has seen an unprecedented increase in e-commerce transactions, as has the rest of the world. So, its introduction of digital taxation at a time appears to be a step in the right direction. In this blog, we discuss e-commerce ecosystem and the necessary GST compliances. Let’s look at why there is a growing need […]
With respect to the unique nature of their businesses and simpler corporate structures, the Indian Government has considered it necessary to introduce an insolvency resolution process for MSME (Micro, Small, and Medium Enterprises). In the pandemic, the government suspended the filing of applications for initiation of corporate insolvency resolution process in respect of the defaults […]
E-Invoicing under GST is an authentication mechanism just like the E-way Bill system. However, the mechanism is different, wherein it involves submitting already generated invoices on the common e-invoice platform before issuing the same to the customer. What is E-Invoicing under GST? It is a system in which Business to Business (B2B) invoices are authenticated digitally by GSTN. All the […]
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