Month: January 2021

Every registered person under GST must self-assess the tax obligations under section 59 of the CGST Act 2019. Taxpayers must file GST returns with assessed documents within the pre-determined tax period. The department of Goods and Services Tax (GST) in India looks into each compliance submitted on the government portal; examines, audits, or investigates each … Read More

Businesses are primarily driven by the unique ideas that build them. However, the lifespan of a business is entirely dependent on its ability to sustain and grow. Which means it requires money; technical equipment, office space, website, initial financial security to pay bills and so on. You require at least a little bit of financing … Read More

Goods and Services Tax (GST), so far, is one of the most nuanced tax reforms implemented by the Government of India (GOI). The primary agenda behind introducing GST was to eliminate the rippling effects of various taxes applicable under the Value Added Tax (VAT), Service Tax, and Excise Duty. Since its inception, GST has introduced … Read More

Small businesses in India are increasingly transiting to the Goods and Services Tax (GST) regime. GST accounting is a more comfortable and cost-effective approach to all the indirect tax systems that previously existed in the country. Since the GST launch in July 2017, GST compliant software has become the most significant factor for the government … Read More

The Goods and Services Tax (GST) regime has subsumed all the indirect taxes in the past few years of its successful implementation. However, the new tax calculation system has streamlined indirect taxes. The government has unified the current and previous tax systems by introducing “Supply Under GST” – Time, Place and Value of Supply. GST … Read More

“Choose your dreams over your fears”. Starting your own business can be a daunting task. Yet, given an opportunity, most people in their 20’s are likely to become entrepreneurs. According to one of the recent studies, 39% of employees working in corporate jobs aspire to build their own venture. Do you want to be your … Read More

The impact of the COVID-19 pandemic has transformed the way businesses operate around the world. The current pandemic is no different from the past; resembling the historical uncertainty index and its economic impact. While few small businesses are striving hard, many are creatively rediscovering themselves as explained in this COVID-19 small business guide. Although switching … Read More

Businesses today are still unaware of the term “subscription bills.” However, the concept of subscription billing is not entirely new. It is one of the billing methods that businesses use to charge their customers when processing transactions. Although the idea of subscription billing software roots in earlier times, companies have recently started recognizing the need … Read More