What is Statutory Compliance (India)?
- Statutory Compliance (India)
- Statutory Compliance in India refers to the mandatory adherence to laws governing business operations — GST, Income Tax, Companies Act, Labour Laws (PF, ESI), and Environmental regulations.
Key Statutory Obligations
Indian businesses must comply with: GST (monthly/quarterly returns, e-invoice), Income Tax (TDS deposits, advance tax, annual return), Companies Act (annual filings with MCA, board meetings, statutory audit), Labour Laws (PF registration & returns, ESI contributions, gratuity, minimum wages), and FSSAI/BIS if applicable.
ERP for Compliance Automation
ERPNext automates statutory compliance by: computing GST on every transaction, generating GSTR-1/3B data, calculating PF/ESI/TDS on payroll, generating depreciation per Income Tax Act rates (WDV), and maintaining audit-ready financial records. This reduces compliance risk and CA professional fees.
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
Related Terms
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