The sprawling nexus of trade worldwide involving umpteen products, services, manufacturers, traders, and service providers can get chaotic and out of hand if there’s no standardised system of classification. This is what necessitates a nomenclature system like the HSN code. What…
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The Importance of the HSN Code in Invoice
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The Importance of Real-time Tracking of Accounting Transactions
Gone are the days when people used to go through loads and loads of ledgers and financial statements to find that one entry they were missing. In these modern times along with everything else, accounting has been simplified as well. This…
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How Can a Free Chartered Accountant Seat Help in Efficiently Filling GST?
Cloud accounting software is the best investment to scale your business. You can easily collaborate with your Chartered accountant and team members for GST filing and other financial decisions. With the advancement of technology, more and more firms are looking to…
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43rd GST Council Meeting: Relief for Taxpayers and More
The GST council met after six months for the 43rd council meeting on 28th May 2021. Finance Minister Smt Nirmala Sitharaman chaired it. The Union Minister of State for Finance and Corporate Affairs – Shri Anurag Thakur, the Finance Ministers of…
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GST shortfall may force government to borrow $22 billion
Due to the Goods and Service Tax (GST) shortfall, the government of India may need to borrow more for the second year straight. This government will use this amount in compensating the states for their revenue loss during the shortfall. The…
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Importance of the Team Collaboration Feature
Money is the most crucial aspect of a business, and accounting is the art of managing this aspect. The sphere of accounting has evolved over the decades. Now, especially with technology taking over, the revolution has been tremendous. Businesses have started…
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Why and How to Prepare a General Ledger
Accounting is the measurement, processing and communication of financial and non-financial transaction of business entities. Some also refer to it as the science and art of tracking monetary events. This measurement, processing and communication require numerous financial statements to be prepared…
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‘Accounting for E-Commerce entities’: ICAI issues guidance note
Clearing the air, the Institute of Chartered Accountants of India (ICAI) has issued a guidance note for e-commerce businesses named ‘Accounting for E-Commerce entities’ over recognising the expenses and revenues in the financial statements. E-commerce is simply buying and selling goods…
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Inventory Management Software: Advanced Features
Inventory Management Software is the heart of a business, and its importance can never be undermined. Imprezz Inventory management uses advanced inventory management features to ensure seamless functioning of the supply chain through effective communication and clarity in analyzing each and…
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E-invoice mandatory for businesses with turnover over 50 Cr
The central board of Indirect taxes and custom (CBIC) issued a notification and made it mandatory for businesses with turnover over 50 Cr in any fiscal year from FY 2017-18 onwards to issue e-invoice for all B2B transactions from April 1,…
