RBI’S CIRCULAR ON IRACP NORMS DECODED FOR BORROWERS

RBI has issued circular in November 2021 which is applicable to all Financial Institutions (FIs), Banks and NBFCs to provide clarifications around regulatory guidelines on Income recognition, Asset classification and provisioning relating to advances.

Goods and Services Tax (GST) in India and recent trend

Goods and Services Tax (GST) was introduced by the Indian Government on the procurement of goods or services in the year 2017.