Goods and Service Tax in India
Goods and Service Tax (GST) in India is a unified indirect tax system that replaced multiple state and central taxes. Introduced in 2017, it aims to streamline taxation, promote ease of doing business and ensures seamless tax credit across the supply chain. GST is classified into four tax slabs: 5%, 12%, 18% and 28%. However, some other rates do also exist in India on specialized items, e.g. Gold etc.
Income Tax Act
Income Tax in India governs the taxation of individual and corporate incomes. It is primarily based on the Income Tax Act of 1961, which outlines how income is to be taxed, the rates of taxation, exemptions, and deductions available to taxpayers.
Micro, Small, and Medium Enterprises
Micro, Small, and Medium Enterprises (MSMEs) in India play a crucial role in the country's economic growth by contributing significantly to employment, innovation, and GDP. MSMEs are classified based on investment in plant and machinery, with micro enterprises having the lowest investment threshold. The government supports MSMEs through various initiatives, including financial aid, skill development, and ease of doing business reforms.
Food Safety and Standards Authority of India (FSSAI)
The Food Safety and Standards Authority of India (FSSAI) is a statutory body under the Ministry of Health & Family Welfare, Government of India. Established in 2006 under the Food Safety and Standards Act, it ensures food safety and hygiene in India. FSSAI sets scientific standards for food products, regulates their manufacturing, storage, distribution, and sale, and promotes awareness about safe food practices among consumers. It is categorized based on scale and nature of food business, e.g. (1) Basic Registration, (2) State License, and (3) Central License
Trade Mark Registration
Trademark Registration: A Key to Protecting Your Brand
Trademark registration is a crucial step for businesses and individuals seeking to protect their brand identity. A trademark is a recognizable sign, symbol, logo, name, or a combination of these elements that distinguishes goods or services of one entity from those of others. Registering a trademark provides legal recognition and exclusive rights to the owner, ensuring that no one else can use the same or a confusingly similar mark for similar goods or services.
ISO Certification
ISO Certification: Ensuring Quality and Standards
ISO certification is a globally recognized standard that validates an organization’s adherence to specific quality, safety, environmental, or efficiency standards established by the International Organization for Standardization (ISO). These certifications are designed to improve operational excellence, ensure customer satisfaction, and demonstrate a commitment to continual improvement. ISO certifications cover a broad range of sectors, with ISO 9001 for quality management, ISO 14001 for environmental management, and ISO 45001 for occupational health and safety being some of the most common.
