GST
What is GST Rate? GST stands for Goods and Services Tax, and it aims to replace all taxes and levies, including excise taxes, countervailing...
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Keeping track of a company’s financial transactions, organising them for future reference, and creating financial statements is known as bookkeeping. Organisations use either a...
Consumer products that are sold quickly at a relatively lesser price are categorised as fast-moving consumer goods which in short is known as FMCGs....
Financial reporting gives you an insight into the financial performance of a business during a certain period. Tracking business metrics allows you to stay...
A dealership is established when an entrepreneur allows a person or business to market a specific product. As a result, setting up a dealership...
Small Town Business Ideas Here are the list of 10 popular business ideas that you can start in a small town. If you are...
Upgrading a cash register to a point-of-sale (POS) system is likely to be a difficult task. However, due to the POS system’s increased operational...
What is a POS system? A point of sale is a point where customers checkout with the items they have purchased. A point of...
Bihar is one of the most densely populated states in India. While earlier, the main occupation of the people there was agriculture, in recent...
A cost sheet is a form of a financial statement made by businesses and manufacturers to analyse the business expenses. A cost sheet includes...
“Failed to establish a connection to the server. Kindly restart the EmSigner.” You must have encountered this error on the GST portal while filing...
What is GST Rate? GST stands for Goods and Services Tax, and it aims to replace all taxes and levies, including excise taxes, countervailing...
The central government introduced the Goods and Service Act in 2017. The reason behind introducing this act was to curb all the various taxes...
GSTR 7 is a GST form that needs to be filled by registered taxpayers who wish to deduct Tax Deducted at Source (TDS) from...
Inventory is one of the important aspects of any business. Any miss with your inventory movement can disrupt your business turnover. Therefore, it is...
What is IGST? IGST is an integrated goods and service tax and is one of the most crucial and important sections for registered businesses...
What is a Wholesale Business? The term “wholesale” applies to two distinct market models. A company can purchase products in bulk directly from manufacturers,...
The Government’s objective of Aatmanirbhar Bharat is to make the nation technically and financially self-sufficient. It encourages new-generation entrepreneurs to take strategic risks and...
When a person decides to commence a business, there will be several things that he/she shall consider. For registering a business of the supply...
When you start a business or if you own a business, there are various factors that you should consider and you must also know...
What is SGST? In India, SGST is one of the taxation parts of GST. The SGST Act is amended to include State Goods and Service Tax....
What is the place of supply where the products are supplied under GST? Determining the Place of Supply under GST of Goods is important...
More often than not, registered GST entities or individuals end up paying their Goods and Service Tax more than what is liable to be...
Who is a GST practitioner? According to Section 2(55) of the CGST Act, 2017 GST Practitioner meaning is any individual authorized under Section 48...
What is Composition Scheme under GST? Section 10 of the GST Act describes the Composition Scheme under GST. This is a different form of taxation...
One of the pecuniary policies used by the Reserve Bank of India (RBI) to control the money supply in the economy is the Cash...
What is DPT-3 Form DPT 3 was notified to protect the interests of the Company’s deposit holders or creditors, the Central Government in consultation...
GST, known as the Good and Services Tax, should be paid by any business whose summative turnover is more than INR 40 lakhs in...
Any individual or business which has registered on the GST portal and whose GST registration has been cancelled or surrendered has to file for...
Tax deducted at source is a form of income for the government, wherein the tax is collected from the very source of the income...
What is the HSN Code The World Customs Organization (WCO) created it as a multipurpose foreign commodity nomenclature that went into operation in 1988...
A statistical framework must be capable of calculating the contribution of all economic operations to national wealth and must be attentive to the demands...
When you want to start a business, there are many documents that need to be prepared and submitted for verification by the government to...
Any payment or remittance made to a non-resident is subject to a plethora of laws and regulations. Initially, when a person made a payment...
The second wave of COVID-19 has disrupted many lives & businesses in India, especially SMEs. Usually, small business owners are used to setting goals...
This guide gives you detailed information about the medicine GST rate and the medicines HSN code. Everybody knows about GST but might not be aware of the...
What is GSTR 9C? GSTR-9C is a statement of reconciliation between: the Annual Returns in GSTR 9 filed for a Financial Year, and the...
What is GSTR 9? It is the annual return that compiles the taxes for all the financial transactions of a business in one year....
What is GSTR 4? GSTR-4 is a GST Return that must be filed by a composition dealer. Unlike an ordinary taxpayer who needs to...
An integrated accounting system can be a blessing for businesses, especially for all small and medium enterprises. It may sound complicated, but it is...
A B2B transaction is one where both parties involved in a transaction are businesses. An invoice is a document that acts as the proof...
This blog covers everything you need to know about GSTR 2 and how it’s going to affect your business and work. Every business and...
Access to formal credit has always been one of the major concerns of SMEs in India. This difficulty arises due to traditional accounting methods,...
All businesses – big or small – need to maintain fine records of their transactions. As the number of transactions increases, it becomes critical...
With the rise in Small and Medium Enterprises in the country, the government has facilitated the Udyog Aadhar Registration for small businesses. This is...
The Ministry of Finance (MoF) has recently announced GST relaxations for businesses in India due to the outbreak of the COVID-19 second wave. Many...
The idea behind introduction of GST Compliance Rating is to encourage GST registered businesses to be fully compliant with GST rules & regulations. If...
Today, many small and medium businesses are still highly dependent on cash transactions, and therefore, use hundreds of cash memos every other day in...
A shop bill book is like an identity of your business. Every customer gets to keep a part of that identity through the invoices...
Before the Goods and Service Tax, goods in India would be taxed at different levels such as state tax, Value Added Tax (VAT), Import...
A furniture business can have numerous transactions every day because there is a massive industry demand for good-quality furniture items for both retail and...
Regardless of size, every business thrives on the systematic recording of its day-to-day financial transactions. Small business bookkeeping provides small enterprises with a simple...
For any business to have a successful run, it must have long-term financial planning and impeccable accounting practices. Business accounting involves identifying, recording, and...
What is Financial Risk? Financial risk can be defined as any peril that can bring about the loss of capital to interested groups or...
A vendor invoice is a document listed by the recipient, which includes the total amount the supplier owns. When an order is placed for...
The quality of financial management and accounting practices employed in a business can be crucial for its growth. It is essential to keep a...
Quality accounting practices are integral to any business’s effective management and functioning. Keeping track of all transactions, investments, and reports helps generate crucial insights...
ERP stands for Enterprise resource planning and is a crucial tool that every small and medium business should use. It is being used widely...
The demand for gold is never-ending. Day by day, the number of people purchasing gold is increasing, especially women customers. Whenever you purchase gold...
With the rise in technology and the ease of doing business on e-commerce portals such as Amazon, Flipkart and Myntra, it’s no secret that...
What is an audit? An audit refers to the autonomous inspection of financial information of any organisation, regardless of whether they’re for-profit or non-profit,...