The regulatory compliance landscape in India is highly dynamic, with an average of 10 updates per day. In 2021 alone, there were as many as 3,577 updates in the compliance requirements. These regulatory changes are notified on over 2,000 union, state, and local government websites in the form of notifications, directions, circulars, advisories, orders, amendments, and so on. More often than not, these regulatory updates pertain to crucial changes in procedures, dates, penalties, calculations, and applicable duties, among others. Staying abreast of the latest regulatory development is essential for any business in avoiding compliance errors and inadvertent lapses.
This is why we bring to you the Monthly Compliance Roundup from our knowledge partner ‘TeamLease RegTech’, a brief summary of the major regulatory updates in a month. It groups together the most significant updates across seven core business categories – finance and taxation, industry-specific, labour, commercial, secretarial, general, and environment, health and safety. It also provides a short explainer on each update to provide better insight into its potential implications. The Compliance Round-Up is intended to provide a unique bird’s eye view of the latest and notable changes in India’s compliance universe. This document can be a great value addition not only for those who are actively involved in compliance management but also for anyone looking to gain a better understanding of the evolving regulatory ecosystem in the country.
Download the MONTHLY COMPLIANCE ROUNDUP MAY 2022
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