#legalupdatesinindia
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In this article we are discussing about the compliance management software and its need for Indian entrepreneurs. Delayed in filling the compliances causes penalties and fines, Indian entrepreneurs seeking for solutions to track and manage the applicable compliances for their businesses. Avantis RegTech has developed the SaaS based compliance automation software for managing the automation purposes.
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Legal updates in India is the need for compliance software is more than necessary for companies operating in India, especially for those that do not have the resources to hire in-house teams. Also, this is a great choice for businesses that have international operations or operate in more than one state. Indian government is pushing for digitization, and with compliance management software, your company can take the step ahead!
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Get the latest legal updates in India, other legal issues and breaking news in the legal era, and the latest compliance updates. Latest legal news, latest amendment, notification, and resolutions. Regulatory & statutory compliance is complicated at best. In India, despite the shift towards digitization, compliance remains mostly about manual paperwork, and businesses have often paid for the consequences of not filing papers on time and not adhering to the norms as per requirements.
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Get the latest legal updates in India, other legal issues and breaking news at legal era and latest compliance updates. Latest legal news, latest amendment, notifications and resolutions. Regulatory & statutory compliance is complicated at best. In India, despite the shift towards digitization, compliance remains mostly about manual paperwork, and businesses have often paid for the consequences of not filing papers on time and not adhering to the norms as per requirements.
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Regulatory and statutory compliance is complicated at best. In India, despite the shift towards digitization, compliance remains mostly about manual paperwork, and businesses have often paid for the consequences of not filing papers on time and not adhering to the norms as per requirements.
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India has a complicated ecosystem, as far as regulatory requirements and compliance matters are concerned. There are over 1,536 Acts, more than 69,233 compliances, and more than 3,000 filings. Depending on nature and industry, a business may have to comply with various requirements, and if the company operates internationally or has business in different states and union territories, this only convoluted things further. A lot of companies have little or no clue of how processes work, and they have a hard time keeping up with compliance updates in India.
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Read latest legal updates and compliance updates for your business only at Avantis RegTech. That is exactly where something like compliance management comes in the picture. It is possible to invest in compliance management software in India, which allows companies to digitize and automate the process to the best possible extent.
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Regulatory compliance updates on taxation and finance sector. Legal and Regulatory Statutory Compliance Updates. At Avantis RegTech there are various type of legal updates. You can customized the preferences for the newsletters as per states, regulators, industry and ministry wise.
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Legal Updates on for Central Board of Indirect Taxes | Real Time and Comprehensive Regulatory Compliance Updates for Central Board of Indirect Taxes. Legal and Regulatory Statutory Compliance Updates. For all Central, States and Regulators with Notifications and Free Newsletter.
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As a result, the applicability of Acts/Compliances also constantly changes. The Regulatory environment in India is also fluid. There are approximately 3,000 changes in a year. A number of these changes affect the Compliance obligations of an organization. Companies Act, 2013 has brought in provisions for criminal proceedings and Jail term for Directors/ KMPs.
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Most of the advanced compliance automation apps are SaaS based. This simply means that the deployment and on-boarding process is a smooth one and doesn’t require extensive IT investment. It is also necessary to evaluate and understand that on-boarding experience should be done in a way that it doesn’t impact the overall standing of your business. With compliance automation, your managers should be able to reduce the work, so ‘ease of use’ is also a relevant term in that context.
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Considering that poor or non-compliance has serious consequences, relying on a program designed for better compliance management is always a step forward. This is more like having a dashboard, which covers everything that is relevant for your company. These systems are designed to cover the entire ecosystem of compliance, and you can expect to get regular and timely legal updates so that action can be taken in real time.
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The entire process of setting up a company and getting necessary licenses, permissions, and orders, can take huge time, which often comes off as a huge loss for businesses, because schedules are hard to maintain. Also, most investors and entrepreneurs do not have a comprehensive system to get legal updates in India, which can be a bummer considering that legal aspects, compliance and regulatory matters change every now and then.
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The global trend towards better corporate governance has echoed in India as well. There are greater scrutinize and higher penalties. The traditional model of compliance management through manual tracking has become a key constraint, leading to increased sins of omission (missed compliances) and sins of commission (incorrect compliances).
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RuleZbook, by Avantis is India’s leading mobile App for National, Real Time, Comprehensive and Personalized Compliance Updates. It is available for IOS and Android Platforms for a quick download and easy self on-boarding.
Regulatory & statutory compliance in India is anything but simple. Businesses often have a hard time managing compliance needs, and as a result, they end up paying huge amounts in fines and penalties.
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