GST Rules for Start-ups in India

22. February 2021By amitmundraBriefly explained

The Goods and Services Tax (GST) implementation has primarily impacted the way start-ups operated in India. It has significantly increased the number of new start-ups in the past three years of successful implementation. The advent of a new tax regime was crucial to abolish various indirect taxes. GST rules for startups were introduced with the … Read More

Transfer of Business and GST Implications

17. February 2021By amitmundraBriefly explained

The advent of GST has led to significant changes in the way businesses operate across the nation. In the past few years, the need for corporate restructuring has increased the scope for transfer of business ownership. It is done majorly to increase the value of an enterprise, revive an organisation’s downfall, or gain an advantage … Read More

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