Accounting 101 – Ultimate Guide to Accounting Basics

4. February 2021By amitmundraBriefly explained

Accounting is one of the most discussed topics in the world of business. Not only business owners, but even a regular employee is also familiar with accounting. They send bills, keep a record of profits, losses, and costs. Every business is involved in some form of accounting irrespective of its scale. Understanding accounting basics under … Read More

Basics: Accounts and Records Under GST

29. January 2021By amitmundraBriefly explained

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

Funding Guide to Your Small Business Idea

27. January 2021By amitmundraBriefly explained

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

Basics: Input Tax Credit – Comprehensive Guide

25. January 2021By amitmundraBriefly explained

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

Which GST Compliant Software to Use for Invoicing?

21. January 2021By amitmundraBriefly explained

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

Basics: Time, Place and Value of Supply Under GST

20. January 2021By amitmundraBriefly explained

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

COVID-19 Small Business Guide

16. January 2021By amitmundraBriefly explained

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