GST is all set to float its wings across India, and it is a high time that we start adapting to its rules and provisions. Under GST, special attention is given to the reporting structure of all transactions, irrespective of the fact that it is of goods or for services. There are three types of…
DetailsGoods and Service Tax is a game changer because, with its implementation, there is a tremendous outflow of benefits. Earlier in India, there were numerous taxes such as Service Tax, VAT, Excise and many others that were ultimately borne by consumers leading to double taxation or having cascading effect. Post GST, around 17 taxes are subsumed…
DetailsIndia is heading towards its biggest tax reforms ever. The whole World is watching this roll out, as the World 3rd largest economy is moving towards a destination based tax-reporting structure. Every transaction has to be reported through the last mile with a common invoice, identifiable to the seller and recipient of goods and services.…
DetailsIf sell products or services in India, you must be issuing invoice to your customers. Every business in India needs to know about the new GST invoice rules going forward. In this article, we’ve explained how to create GST invoice, various components that must be there on invoice, format of GST invoice and much more.…
DetailsIt’s been few years since you are running this business. You are about to end this financial year and now you want to know – What is my actual business worth? Most small business owners consider only revenue while assessing their business worth. However, they rarely consider one fundamental thing in the calculation – Fixed Assets. An example of…
DetailsStarting a new business is one of the toughest decisions you can every make. First, you need to find a good idea, then build a plan for marketing, branding, sales, hiring, etc. Then, you need to work on the product strategy and finally, raise capital to execute your plans. Sounds like a lot of work..…
DetailsWhat Is Accounts Receivables? Accounts receivables can be attributed to the amount of money the company or the respective business organisation is bound to receive for its services/goods provided to the customers. Also termed as trade receivables, this particular term can be explained in an example that follows. A business organisation will have an accounts…
DetailsMr. Vinod manufactures solar panels. He just delivered a huge order to one Government office. As per the agreed payment terms, he will get the payment after 3 months. Now, he got another big order. But the problem is he doesn’t have enough money to procure raw materials to fulfil this order. His payment is…
DetailsWhat Is Bharat QR Code? Since demonetization of old currency notes the Government of India has been making a big push for digital payments. To encourage cashless transactions and to promote Digital India initiative, the Government of India has launched Unified Payments Interface (UPI) for smartphones and for basic and feature phones it has introduced Unstructured…
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