Every month suppliers will be required to upload their invoices to GSTN portal and those will be matched with the purchases from customers. So, invoice matching is going to be a monthly affair for businesses. Use of IT systems for bookkeeping and tax compliance work will be seen even in many small and medium…
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GST is almost here and you must be wondering about lot of things, like – how this is going to impact my business, which vouchers will change, what are the minimum things I need to do in order to comply with GST and so on. We know this is going to be confusing and…
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Being a destination-based, transaction-wise tax, Goods and Services Tax or GST, ropes in strict compliance procedures for all taxpayers. Since every transaction is recorded and tracked between the source and destination, the taxpayers must maintain and declare information with utmost accuracy. To have a crystal clear movement of goods intra-state or locally, reduce corruption, and…
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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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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…
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…
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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 fulfill this order. His payment is…
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Goods and service tax (GST) is set to go live in India on 1st July 2017. This is the biggest tax reform as its going to replace around 18 indirect taxes. Naturally, there is lot of confusion around GST. In order to make business owner’s life easy, companies have launched GST mobile apps. At the…
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Union Budget 2017 For Small Business And Start-ups Union budget is one of the biggest events in the financial calendar of the country and this year’s financial budget saw some great promises made for empowering the small and medium-sized enterprises (SMEs) and the start-up businesses. The finance minister announced some great tax exemptions and policies for the…
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