Business enterprises are required to pay MSMEs within 45 days, as per section 15 of the MSMED Act, 2006, depending on the presence of a written agreement. In case there is no written agreement, payment should be made within 15 days. In case there is a written agreement, payment shall be made as per the agreed-upon timeline, not exceeding 45 days.

In the case of late payment to an MSME, interest is applicable. Compound interest at the 3 times the bank rate notified by the Reserve Bank of India (RBI).

Source: https://cleartax.in/s/section-43bh-of-income-tax-act

Update Our Records - GST Number 27AAACQ4202B1Z4 (Quantazone Software Private Limited)

Information Technology services, encompassing consulting, design, development, and support, are also levied at an 18% GST rate. This category includes various IT functions such as infrastructure management, online content delivery, and technical support, reflecting the growing importance of technology in modern business operations.

Source:https://razorpay.com/learn/gst-on-services/#Rates-Schedule-for-GST-on-Services

Update Our Records - PAN Number AAACQ4202B (Quantazone Software Private Limited)

As per Section 194J of the Income Tax Act, TDS at a rate of 2% will be applicable on payments for technical services, including managerial, consultancy, and technical services, if the total payment exceeds ₹50,000 within a financial year.

Source: https://cleartax.in/s/section-194j

We have automated our internal processes,overdue invoices will trigger DNS changes, resulting in service interruptions, as invoices will be directly linked to active services. The default payment terms remain unchanged, with invoices due within 7 days of the issue date.

We would like to inform you of an upcoming revision to our pricing structure, effective April 1, 2025. This adjustment is in line with industry standards and is aimed at improving service quality, ensuring the continued growth and sustainability of our partnership. As a result, there will be an impact on subscription rates for our services, including Cloud, Marketing Consulting, ERP, CRM, and HRMS Solutions.

Any agreements finalized before March 31, 2025, will be processed at the current rates, thereby bypassing the revised pricing.

Support, updates, and ongoing maintenance will be deprecated effective April 1, 2025, for: 

1. websites deployed before April 1, 2024, due to outdated frameworks that may no longer support the latest technologies and security standards
2. websites that do not have a website maintenance or marketing contract in place.

We recommend you to assess your ongoing needs and explore our current plans.