Impact of GST on Export of Goods and Services

31. July 2020By amitmundraBriefly explained

The central government of India implemented the Goods and Service Tax (GST) back in 2016. Initially, the new taxation system created confusion concerning the possible impact of GST on the export sector of the Indian economy. Addressing the issue, the government released a set of guidelines. It was released on June 28th, 2017, to clarify … Read More

Future of Accounting Software in India – Trends and Forecast

31. July 2020By amitmundraAccounting Software, Briefly explained

In today’s competitive world, technology has recreated the business landscape. Automation and systematic processing have effectively transformed the efficiency of business operations. The latest era has witnessed a revolutionary development concerning the field of accounting software in India. On-premises and cloud computing have changed the functionality of accounting aspects. The impact of advanced marketing methodology, … Read More

Cloud-Based Invoicing Software: Simplifing Your Business

31. July 2020By amitmundraAccounting Software, Briefly explained

Businesses can now switch to a faster and smarter mode of managing finances. Cloud-based invoicing software is an ideal platform to improve with the astute financial overview, collaborations, and teamwork.  ST billing software that doesn’t operate over the cloud can curb the workflow. Traditional accounting software does not add value to businesses. They can suck … Read More

Why Use Online Invoicing Software Instead of Excel?

25. July 2020By amitmundraBriefly explained

Most small businesses and freelancers initially incline towards excel or word to accomplish accounting functions. Although it is believed to be professional, the traditional methods are outdated. The updated GST bill format demands businesses to use Online Invoicing software instead of excel. SaaS invoicing or Online invoicing Software is an ideal alternative as it provides … Read More

GOVT Launches GST E-Invoice to Curb Tax Evasion

22. July 2020By amitmundraBriefly explained

Section 271(c) of Income Tax Act penalizes 100% to 300% on GST tax evasion. Recently tax evaders were found using fake invoices in their tax compliance. Thus, to bring an effective measure against tax evasion, India’s government has launched GST e-invoice under GST applicability. E-invoicing GST India is applicable for taxpayers with a turnover exceeding … Read More

8 Simple Ways to Improve Your Small Business in India

21. July 2020By amitmundraBriefly explained

Building a successful small business in India begins with taking baby steps and dreaming big. Successful businesses are those that run-in profit. Which means everyone is eagerly looking for ways to improve business efficiency. Is increasing profits enough for small businesses to grow? Consistent growth is vital for a company to sustain in the long … Read More

Cloud-Based Accounting Software: Fighting COVID-19

18. July 2020By amitmundraBriefly explained

As of 17th July 2020, nearly 13,616,593 people are infected by COVID-19, including 585,727 deaths. THE first COVID-19 case in Kerala was reported in late January. After that, the GDP rates in India has slashed due to the prolonged lockdown. The most affected industries include travel & tourism, manufacturing, financial services, construction, and mining. Nation-wide … Read More