Let’s Talk Compliance – Advance Ruling – In Personam Relief

The Government of India after considering the complexity of tax systems introduced De jure forum to pronounce the Advance Ruling as In Personam Relief (i.e., Relief to specific person). Advance Ruling refers to the written response or decision by “Authority for Advance Ruling” (AAR) and “Appellate authority for Advance Ruling” (AAAR). It is a legal […]

Perpetual License and other proposed amendments under Food Safety and Standards Act, 2006

FSSAI (Food Safety and Standards Authority of India) has proposed to do away with complex year-on-year license renewal process by introducing perpetual (permanent) licenses and registrations under the Food Safety and Standards Act, 2006. This move will furthermore enhance the ease of doing business for the food businesses in India. The FSSAI has proposed to […]

NEEM Scheme – AICTE revisits for enhanced process

In addition to Apprentice training under Apprentices Act -1961 and trainees engaged as per Standing order provisions, a new initiative was notified by AICTE (All India Council of Technical Education) on 15/4/2013 in the name of NEEM  (National Employability Enhancement Mission) with an objective to offer “on the job practical training” to enhance employability of […]

Startups – a great disruptors

When you look at traditional industries in India, it is clear that many are bygone and monotonous. However, people continue to do business within these industries, because of, the absence of other practical alternatives. But when a startup emerges with modern technology, better investment options and wider market acceptance things start changing. Startups are called […]

Let’s Talk Compliance – OSHWC Anamoly

Is it what is intended or an error to be rectified? Following the Code on Wages, 2019, it looks like The Occupational Safety, Health, and Working Conditions Code, 2019 is the next one to be released.  A bill to that effect has already been introduced in the Lok Sabha on 23rd July 2019.  The code […]

Break Complexities of compliance

Handling the complexities of statutory compliance in emerging businesses from central, state and local Governments is a challenge for every organization/company/startup in India. In specific, companies with limited resources find that compliance management is difficult and consider this as a barrier for business growth and sale. Let’s see some of the common problems as follows:- […]

Statutory Compliance Audit for NBFCs – An introduction

What is NBFC? The Non-Banking Financial Companies (NBFC) is a heterogeneous group of financial institutions that perform vehicle finance, equipment lease finance, personal loans, consumer loans, housing loans, etc. It is regulated by the Reserve Bank of India (RBI). Most NBFC’s are categorized as: NBFC-D NBFC-ND Core investment companies. NBFC-D is NBFCs accepting deposits from banks whereas […]

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