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Showing posts from March, 2025

Chemical & Petrochemical Industry in India

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  India is the 6th largest producer of chemicals in the world and the 3rd largest in Asia, contributing 7% to the country’s GDP The chemical and petrochemical industry in India employs over 2 million people and produces more than 80,000 different chemicals and petrochemicals About 70% of India’s chemical production is used within the country India contributes to 2.5% of global chemical sales On the global stage, India holds a strong position in the trade of chemicals, ranking 14th in exports and 8th in imports (excluding pharmaceuticals) India has a significant global presence, exporting chemicals to more than 90 countries, especially in the areas of dyes, pharmaceuticals, and agrochemicals. Mega Trends in  Chemical & Petrochemical Sector Sustainability and Green Chemistry Eco-friendly Products: Increasing demand for biodegradable and sustainable chemicals Circular Economy: Focus on recycling and reducing waste through efficient processes Carbon Footprint Reduction: Compan...

Activities to be Undertaken for GST Compliances of FY 2024-25

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  As the FY 2024-25 comes to an end, businesses need to complete important tasks to stay GST-compliant and smooth transition into the new financial year.  Key important points to consider: Submission of Letter of Undertaking (LUT) Compliance with Rule 96A of CGST Rules, 2017 Opting for the Composition Scheme Quarterly Return Monthly Payment (QRMP) Scheme Selection Implementation of the New Invoice Series Reassessment of Aggregate Turnover Check Applicability of E-Invoice Check the Applicability of the E-Way Bill Reconciliation of Outward Supplies Issuance of Credit Notes GST TDS/TCS credit Reconciliation of Input Tax Credit (ITC) Common ITC Reversal at the year-end Compliance with Goods Sent on Approval Basis Check the requirement to register as an Input Service Distributor (ISD) GST Amnesty Scheme 2025 Want to know full insights, check the link-   https://uja.in/blog/regulatory-updates/key-activities-for-gs...

Understanding the New Tax Regime for Startups: Opportunities and Challenge

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  Exploring the new tax incentives for startups introduced in the 2025 Budget. This would include an analysis of the reduced tax rates, tax holidays, and the government’s efforts to foster entrepreneurship and innovation. In this article, we will explore the key features of the 2025 tax reforms, the opportunities they present for startups, and the challenges that come with implementing these changes. By gaining a clearer understanding of the new tax landscape, startups can make informed decisions that will help them scale and succeed in a competitive market. Key Features of the New Tax Regime for Startups The new tax measures introduced in the 2025 Budget focus on making the startup ecosystem more competitive globally. Here are the main highlights: Lower Corporate Tax Rate 15% Tax Rate for New Startups A major component of the 2025 tax regime is the introduction of a reduced 15% corporate tax rate for new startups in the first 5 years of operation. Previously, this rate was availab...

Rise of Cyber Crime and Legal Mechanisms for Protecting Digital Security in India

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  Recent Surge and Types of  Cyber Crime Incidents in India In the year 2024, within the first four months almost 740,000 cases related with cybercrime were reported before the “Indian Cyber Crime Coordination Centre (I4C)”. There has been a massive surge in cases related to cyber-crimes in India between the years 2019 and 2020. Hence, 85 percent of all the reports that were filed in the year 2024 have been related to financial fraud committed through digital platforms. Types of Cyber Crime: Child Pornography/ Child sexually abusive material (CSAM) Cyber Bullying Cyber Stalking Cyber Grooming Online Job Fraud Online Sextortion Vishing Phishing Data Breach Online Drug Trafficking Cyber-Squatting As cybercrimes continues to evolve with the increasing reliance on digital platforms by businesses, governments, and individuals, the need for robust cybersecurity measures has never been more critical. With India’s rapidly growing digital economy, particularly in sectors like e-commerc...

Tourism and Hospitality Industry in India | UJA Market

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  India has a rich heritage, shaped by the achievements of ancient dynasties, civilizations, and diverse cultures. This remarkable legacy is showcased through its architectural marvels, monuments, artistic expressions, and well-preserved history in museums and galleries, with 42 UNESCO World Heritage sites standing as a testament to its global significance. The country’s diversity is further reflected in its 10 biogeographic zones, 80 national parks, and 441 wildlife sanctuaries, offering vast opportunities for investments in cultural, wildlife, eco, medical, and adventure tourism. Why India for Investment in  Hospitality & Tourism Domestic Tourism Surge Expansion of Airports and Air Connectivity: India is expected to become the third-largest aviation market globally by 2025, with the number of airports rising from 100 to over 200 in the coming years. This growth is expected to boost both domestic and international tourist arrivals, thus benefiting investments in the hospi...

The Legal Entity Identifier (LEI) System: Enhancing Transparency, Efficiency, and Safety in Global Financial Markets

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  The Legal Entity Identifier (LEI) is a globally recognized identification system designed to enhance transparency in financial transactions. It serves as a unique identification number for businesses, financial institutions, and entities engaged in financial markets. The introduction of the LEI system marks a significant milestone in regulatory compliance, ensuring greater accountability and risk  management. The adoption of LEI has streamlined regulatory reporting, reduced financial fraud, and improved cross-border transaction tracking. However, continuous compliance with LEI requirements remains essential, as periodic renewals and accurate data maintenance play a crucial role in its effectiveness. This article explores the key aspects of the Legal Entity Identifier, its significance in financial operations, and the regulatory framework governing its implementation.  Source: RBI/2022-23/34 DOR.CRE.REC.28/21.04.048/2022-23 To know more visit here- https://uja.in/co...