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May312017
Place of supply, Time of supply and Value of Supply

Importance of Place of Supply in GST

Accounting Questions, GSTBy CA Mohnish KatreMay 31, 201710 Comments

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…

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May302017
GST Composition Scheme

GST Composition Scheme

GST, TaxationBy CA Mohnish KatreMay 30, 201739 Comments

Goods 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…

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May302017
Types Of GST Returns and Due Dates

Types Of GST Returns

GST, TaxationBy CA Mohnish KatreMay 30, 201718 Comments

India 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.…

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May222017

GST Invoice – Learn Everything About It

GST, InvoicingBy CA Mohnish KatreMay 22, 201740 Comments

If 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.…

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May122017
What is Fixed Asset

What Is Fixed Asset

Bookkeeping, General Accounting, Small Business GuidesBy CA Mohnish KatreMay 12, 20174 Comments

It’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…

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Apr242017
Franchise Business

Everything You Need To Know About Franchise Business

Small Business GuidesBy Harshal KatreApril 24, 20171 Comment

Starting 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..…

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What Is Accounting Receivables?

Accounting Questions, BookkeepingBy CA Mohnish KatreApril 12, 20171 Comment

What 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…

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Mar312017
What is invoice discounting and how it works

All You Need To Know About Invoice Discounting

Small Business GuidesBy Harshal KatreMarch 31, 20174 Comments

  Mr. 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…

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Feb282017
Bharat QR Code

All You Need To Know About Bharat QR Code

Small Business GuidesBy Harshal KatreFebruary 28, 201748 Comments

What 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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