Compliance... the way!

Engines of Growth

At last count, close to two dozen laws simultaneously hover over any corporate entity in India at all times. Ranging from the Companies Act to GST, Income Tax, Customs, Shop Act, and so on, their numbers don’t seem to be reducing any time soon. While laws are meant for the good of a country and no one for even a second doubt that, there is always a sword that hangs over the heads of corporates, their owners, managers, and every responsible person. In most cases, there isn’t much in the nature of relaxation from these. In fact, with each passing day, the number of laws and their tough conditions only keep on increasing. With the entire system putting the onus of compliance entirely at the door-step of the corporate world while keeping deterrence really high, there’s only one thing (or shall we say place?) where corporate entities can find the right source (and solace!) to do compliance-related work well in time and avoid legal complications. And that is

As for the probable reasons why there’s always a chance of missing out on compliances, reasons include:

- Introduction of newer laws and or changes in existing laws and procedures.

Remember the speed with which the GST was implemented? There still are entities that are yet to find their feet and do the needful. Similar has been the case with certain state laws which got implemented mostly in piecemeal whose information re compliances didn’t seem to have come to the ears of entrepreneurs- mostly the smaller ones at the right time. Some laws like Customs and IT also undergo changes that may not on their own come to the attention of business persons for the right outcome.

- Changes in the work-related environment leading to missing out!

One of the biggest changes in the recent past that have caused concerns both in the workplace and relevant departments of the government, is the pandemic-induced shift of places, and modes of operation. From an out-and-out business office, the office today is at home. Compliances of certain kinds under certain laws have taken a hit given that no one’s sure of the existing conditions in the new environment. For that matter, today no one can be sure if an organization exists given the number of industries that had to shut down due to the sweeping lockdown.

- Lack of an updated system to alert corporates of what they might miss out

In the present Indian context, there are just a few committed entities that provide a well-rounded reminder-cum-compliance service that’s updated, user-friendly, safe, and fast. This means corporate entities, and mostly small ^ medium ones are left to their mercy to figure things out for themselves about corporate compliances.

While every industry needs customized IT services that are tailored to their specific needs and circumstances, what they get in most cases are one-size-fits-all products with limited scope for configurations that sometimes leads to missing important dates and information in compliances.

If you think all are lost, it could be time to re-think! There is (and always was!), a one-stop site where all manner of compliances across laws, dates, corporate sizes, and other divisions, are taken care of under one roof. Or shall we say under one cloud! Yes, this is one cloud that rains only convenience!

Be it Income Tax, GST, Environment or PF or Professional or DSC renewal, all these and more are taken care of! As for advantages, there are quite a few including:

- Timely information about all ongoing regulatory compliances to save corporate entities from stiff fines, penalties and defamation.

- Timely assistance to corporates, especially MSMEs that practically does away with the need to employ people to undertake compliances that result in faster work at lower costs.

- Being a cloud-based service, it remains accessible to the right set of people anywhere on the planet at any time.

- Full control of overall information and data, and a move away from manual error-prone entries Time, they say is too slow for those who wait, too swift for those who fear, too long for those who grieve, too short for those who rejoice, but just right for those who take the right steps at the right time.

The right time is NOW. As for the right step, it's approaching while there is the time!

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