GST e-invoice has become a point of discussion among businesses and taxpayers in India. When any goods or services are transported from one place to another, the transaction is facilitated by filing invoices or e-way bills on the government GST portal….
Basics: GST Laws and Rules Part -3
The Goods and Services Tax (GST) has brought significant changes in the Indian economy. It has been consistently reshaping the tax calculation system. However, it has also confused taxpayers and people in business concerning the GST laws and rules. The new…
Basics: GST Laws and Rules Part -2
The Goods and Services Tax (GST) is an indirect tax regime that has replaced several indirect taxes in India. The GST laws and rules on goods and services were approved in the Parliament on March 29th, 2017, and came into force…
Basics: GST Laws and Rules Part -1
The Goods and Services Tax (GST) has been enforced throughout India as of 1 July 2017. Any taxpayer or business entity registered under the current tax administration must register under GST. The GST tax regime has replaced all other taxes. Since…
New GST Returns –Overview
Prime Minister Narendra Modi launched the Goods and Services Tax (GST) at midnight on July 1, 2017. The implementation process has been in the making for nearly two decades since the concept was first proposed under the government of Atal Bihari…
Compatible and Best Online Accounting Software for Small Businesses, Accountants and Freelancers
Managing finances is a significant business operation that helps make better financial decisions. Most small business owners or freelancers cannot afford to hire an accountant as they start initially. Most accountants and freelancers prefer implementing cost-effective accounting software to manage income,…
GST Invoice Rules: Invoice Details and Essential Information
The time has come for businesses to prep themselves for their next GST returns filing. As the dates are nearing, it is crucial to issue tax invoices as per the recent GST guidelines to eliminate the risks of facing barriers. As…
Reverse Charge GST Invoice Format
The Goods and Service Tax (GST); a new taxation system in India, has replaced many of the existing indirect taxes. The complicated GST invoice format of the asset-based tax system is now eliminated under GST, a destination-based tax system. It has…
What is small business accounting – How to do it?
As a small business owner, you must master the art of accounting at some level. Small business accounting is all about the process, system, and people (your team members). It is done by recording expenses, profits, and financial information of each…
Definition of Commonly Used Basic Accounting Terms – Part 2
Stepping into the accounting field can be confusing at first with all the new terms to learn. Don’t feel left out in conversations, and don’t be left behind only because you aren’t sure what someone is talking about. Learn the basic…
