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Steps to Improve Receivables Management

26. June 2021By amitmundra

The biggest challenge faced by any large or small business, more than sales, branding or expansion, is to keep it buoyant. And one way by which you can keep your business afloat is by ensuring a steady cash flow. A business can sail through highs and lows of profit generation, but it cannot survive an … Read More

When is Credit and Debit Note Issued?

23. June 2021By amitmundra

Maintaining legally compliant, professional invoices is imperative to the operations of any business. But once you have created an invoice, it may not be the final one as there can be several changes due to various reasons in a single transaction. Is it possible to edit the invoice n-number of times as and when there’s … Read More

HSN Code Made Mandatory On GST Invoices From 1st April 2021

22. June 2021By amitmundra

As per the notification issued by the GST authorities in October 2020, the HSN codes are now mandatory on all invoices. According to this new regulation, GST authorities mandated the HSN code on all tax invoices from 1st April 2021. The official statement made by the Ministry of Finance clearly states that “With effect from … Read More

What is HSN Code in Invoice? The Importance of HSN Code

22. June 2021By amitmundra

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 is HSN Code? HSN is the acronym for Harmonised System Nomenclature. This standardised, multipurpose … Read More

Importance of Real-time Tracking of Accounting Transactions

18. June 2021By amitmundra

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 is the modern era and therefore, methods of accounting have advanced as well. In … Read More

How can a free Chartered Accountant seat help in efficiently filling GST?

11. June 2021By amitmundra

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 embrace cloud networks for their business activities. This software allows them to enhance their … Read More

43rd GST Council Meeting: Relief for Taxpayers and More

9. June 2021By amitmundra

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 the states and UTs and other senior officers of the Ministry of Finance and … Read More