Is GST exemption on goods a good idea? The ongoing economic crisis due to the COVID-19 pandemic has been extremely devastating. The government has announced various relief measures and relaxations to fight the Impact of GST on the Indian economy due to Coronavirus. The Government of India (GOI) and Reserve Bank of India (RBI) are … Read More
Month: August 2020
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5 Reasons why Imprezz integration with Tally will help GST Accounting
Integrating business data can be a tedious task for accountants and businesses. Amid the cut-throat competition, it is difficult for business owners to focus on compact details of GST accounting aspects. However, maintaining adequate financial reports, records and functionalities are vital for businesses to drive productivity. Modern businesses in India rely on technology for … Read More
What is Accounting Standards?
Accounting is a comprehensive process of recording transactions. It portrays financial data that help readers draw conclusions and make business decisions. Accounting procedures are incorporated with standardized guidelines for disciplined execution. These guidelines are usually known as accounting policies. Standardized accounting policies allow companies to make alterations according to their substantial needs. However, the freedom … Read More
Why Government Gave GST Audit Extension and What It Means?
India’s government has extended the due dates for filing GST returns and audit reports of financial year – 19 to 30th September 2020. The second GST audit extension was provided to e-way bills until 24th March. The validity of the same expired from 20th March – 15th April. The government also offered economic reliefs and … Read More
Special Cases: Goods and Services Tax Invoices Format Relaxations
Goods and Service Tax invoice is a commercial bill of sale issued by the sellers to recipients of products or services. According to section 31 of the CGST Act, it is mandatory to issue tax invoices for any goods or services supplied. The GST law has specified rules as to how a business must issue … Read More
Imprez.in Now Launches Import Function to Rationalize Accounting Solutions.
Imprezz is an all-in-one accounting software for small businesses, freelancers and solopreneurs. The exciting new feature makes it highly integrated. The updated import function on the software aims at simplifying your accounting operations. Imprezz manages everything from your business accounts to taxes and payments. The newly released feature now enables you to import the customer … Read More
Latest Updates in GST Invoice Rules: COVID 19
The government of India has rolled out several tax reliefs and measures, concerning the impact of GST on Indian economy due to COVID-19. The GST council has implemented strict GST Invoice rules to curb tax evasion. E-invoicing GST is compulsory for businesses, starting from 1st October. Find the details of this latest update in … Read More
How to Make Quotation Which Your Clients Accept?
Small businesses in India can poach clients if they know how to make quotation that works for their business. Not many business owners realize that the way they create quotations can cost them business. They fail to follow-up on quotes or turn them around faster, which results in loss of revenue. Healthy cash flow and … Read More
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