Effective accounting is essential for the financial well-being and prosperity of every business. It serves as the foundation for informed decision-making and precise financial reporting. A crucial element of accounting…
Do you rely on credit cards for making significant payments? If you also find credit cards to be a life saviour, then you should learn about accrued expenses for your…
Taxation is a necessary source of money for a government to run a state. It helps in the development and upliftment of the citizens. There are various kinds of taxation…
The implementation of GST was quite complex in nature. However, its complexity further eased the compliance burden of businesses. GST, being the only taxation policy, has toned down the documentation…
Earlier, there used to be numerous taxation policies in place. This used to cause a lot of burden on the taxpayers, as each one of them had unique compliance requirements.…
Indirect taxes have historically stood as a fundamental revenue source for governments. However, the preceding tax system faced challenges, such as the cascading effect and the burden of multiple taxes.…
Taxes, often referred to as the price of civilisation, have existed since ancient times, dating back to 3000–2800 BC. They have played a major role in the development of civilisations,…
The implementation of GST has proven to have numerous advantages for all businesses. Due to its complex nature, it has minimised numerous issues businesses face. One of which was handling…
Have you ever heard of the word accrual? It sounds difficult, but it simply means the accumulation of something. However, in the case of accounting, it means a revenue or…
The way you keep an account of your business's financial books has been around for centuries. Accounting methods were invented in 1494. However, that does not mean the same method…
Did you know the GST regime experienced a tax evasion of ₹54000 crore in the financial year 2021-22? Out of this enormous discrepancy, they successfully recovered around ₹21000 crore. Despite…
Earlier, the taxation policies had numerous limitations, which is also why they were prone to numerous kinds of fraudulent practices. However, since the implementation of GST taxation across the nation,…
The implementation of GST was diverse and complex in nature. This is also why it was deemed adequate to replace all pre-existing taxation policies. However, it also came with certain…
India opened itself to foreign companies in 1991 by passing the LPG bill. This undoubtedly resulted in a massive boost to the country's economic situation. However, it also had various…
Did you know there are around 14 million registered GST taxpayers in India today? In fact, these numbers are seen to increase exponentially each year. However, with such a massive…
The Indian Goods and Services Tax had major burdens to replace numerous taxation policies in usage across the country. Therefore, it was designed to be complex in nature. This further…
Since the taxation policies changed in 2017 and introduced the Goods and Services Tax, business owners in India have had to undergo numerous changes in maintaining their books. One of…
Initially, there used to be a wide range of taxation policies, each devised for a specific purpose. The complex nature of India's taxation policies created a range of issues in…
The introduction of Goods and Services Tax (GST) marked a significant transformation in the financial dynamics between the Central and State Governments in India. This unified tax system replaced a…
Taxation is a crucial element of a nation's economic structure, providing essential funding for public services. As financial norms shift, taxation guidelines undergo periodic updates. Governments issue notifications to communicate…
Taxation is the most important component in any economy. It serves as a vital revenue stream for governments to finance public services and developmental projects. However, just like any other…
Introduction Today, almost every business has a giant corporation involved in it. These corporations are heavily loaded, which allows them to exploit the competition with huge discounts. Thus, it is…
Experiencing disputes in acceptance of an E-waybill is common when establishing trade relations with foreign countries. Therefore, there are several specific considerations both the buyers and sellers are expected to…
Have you ever heard the term MSME? Well, it is a category of enterprises that get special benefits and assistance from banks and the government to ensure sustenance in the…
The introduction of the goods and services tax in India has replaced a series of tax policies. However, this replacement has not been simple. This new taxation policy had to…
Did you know the GST intelligence department has detected an evasion of Rs.1.36 trillion by the year 2023? One of the most common reasons behind this huge number is the…
The sustainability of a business in today's competitive economic environment is immensely dependent on the availability of funds. This applies to all forms of organisations. However, MSMEs face such major…
A wide range of businesses are available in India today, each catering to the country significantly. However, this group also includes certain businesses that get special benefits from the government.…
The enactment of the LPG bill in 1991 opened doors to various opportunities in India, ranging from a variety of products to upscaled quality of goods. Undoubtedly, it was a…
The introduction of GST in India marked a transformative era, eliminating indirect taxes and significantly reducing corruption. While GST simplifies taxation, it also introduces various compliance challenges, making it a…
The Central Goods and Services Tax (CGST) Act, implemented in 2017, marked a significant stride in the Indian taxation system, aiming to eradicate indirect taxes and corruption. While the intent…
Goods and Services Tax is a new tax that has replaced all the other taxes. The Indian Government introduced it in July 2017. GST is an indirect tax strategically designed…
Today, almost everything involves a transaction, from going to work to drinking water. A transaction is simply exchanging something against your desired goods or services. Initially, it used to be…
Multiple indirect taxes had taken over the country before GST. They led to a negative spiral of taxes on taxes, and it was not doing the country any good. But…
The Manufacturing market is anticipated to have around USD6.58 million enterprises by 2023, with an expected CAGR of 12.92% from 2023 to 2028. This market is also one of the…
Approximately 300 million individuals are attempting to initiate around 150 million businesses globally. Given a startup success rate of about one-third, it can be estimated that 50 million new businesses…