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.…
It’s been a 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…
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…
I’ll never forget September 22nd, 2025. That Sunday morning, my phone started buzzing at 6 AM with panicked WhatsApp messages from business owners across the country. “Mohnish bhai, everything has changed overnight!” “My entire pricing structure is wrong!” “I don’t even know what GST rate to charge anymore!” You know what hit me that morning?…
At ProfitBooks, we are committed to make taxation simple for small business owners in India. Since GST is set to replace various indirect taxes, we have started this series on frequently asked questions on GST. This article is next in this series. Earlier, we had covered Levy and Exceptions under GST and Tax payments under…
Small business owners are often confused about the difference between cash and accrual basis accounting. This might sound like something that an accountant should show but this information is useful for business owner as well. In this article, we’ve explained how each of these accounting methods work. Find out more which accounting method is best for your…
As small business owners ourselves, we know how important it is to keep our finances accurate and organized. But when it comes to fixed assets like machinery, equipment, or office furniture, we can’t just expense the entire cost at once. That’s where depreciation comes into the picture. It allows us to gradually account for the…
“You Can’t Improve What You Don’t Measure!” Small businesses must be well-informed to survive in a competitive environment and one of the vital competencies they must develop is to read and understand important financial statements. Understanding essential financial statements such as ‘Trial Balance’, ‘Balance Sheet’, and ‘Profit and Loss statements’ is of utmost importance, as…
GST tax payments are where compliance either holds together or falls apart for small businesses in India. Filing returns is one thing — actually settling your tax liability correctly, on time, and through the right ledger is where most owners get tripped up. As of 2026, the GST portal has shifted toward system-driven enforcement,…
The GST impact on e-commerce business in India has shifted dramatically since the early days of implementation. What started as a registration headache in 2017 has evolved into a data-driven compliance ecosystem where real-time matching, automated TCS deductions, and tightened return reconciliation leave almost zero room for error. In practice, I see many e-commerce…