Understanding TDS Under GST: A Comprehensive Guide for Payments Over ₹2.5 Lakh
Understanding TDS under GST
Ensuring Your Ledger Balance Matches with the Books: A GST Compliance Guide
Keeping the ledger balance in sync with your books of accounts is a fundamental step to maintain GST compliance and avoid any penalties or audits. Here’s a structured process to ensure that your ledger and books reflect accurate financial data, helping you stay on top of your GST filings. 1. Monthly Reconciliation of Ledger and […]
Archival of GST Returns Data on GST Portal: What You Need to Know
Keeping up with tax updates is essential for every taxpayer. A new data archival policy on the GST portal could affect how long you can access your past GST returns. Let’s break down the key points and what actions you need to take. Key Update: Section 39(11) of the CGST Act, 2017 From October 1, […]
Invoice Management System (IMS): A Comprehensive Update
With the launch of the Invoice Management System (IMS), the GST landscape is set for a major upgrade. Effective from October 1, 2024, IMS empowers taxpayers to manage invoices more efficiently, allowing you to accept, reject, or keep invoices pending. This blog dives deep into the functionalities of IMS, covering frequently asked questions (FAQs) and […]
High-Quality Virtual CFO Services: Tailored Solutions for Every Business!
In today’s fast-paced business environment, having a Chief Financial Officer (CFO) on your team is crucial for maintaining financial health and ensuring long-term success. However, many small and medium-sized businesses (SMEs) may not have the resources to hire a full-time CFO. That’s where Virtual CFO services come in, offering a cost-effective and high-quality solution tailored […]
Understanding GST on Rent After the 54th GST Council Meeting: Key Updates and Changes
The 54th GST Council Meeting introduced several important updates regarding GST on rent for both commercial and residential properties. These changes impact both landlords and tenants based on their GST registration status. Let’s explore these updates clearly and concisely. Commercial Property: GST Rules Explained 1. Both Landlord and Tenant Registered When both the landlord and […]
Growth Hacking for Startups: Low-Cost Strategies for Big Impacts !
Growing a startup on a limited budget is challenging, but growth hacking offers creative solutions for rapid success. Growth hacking focuses on leveraging innovative, data-driven strategies to boost user acquisition with minimal costs. What is Growth Hacking? Growth hacking is a strategy aimed at scaling a business quickly using creative, low-cost techniques and data-driven insights. […]
Depreciation on Fixed Assets: How It Affects Accounting
Introduction Fixed Asset Depreciation is a vital accounting process that reflects the gradual decrease in the value of tangible assets over time. This depreciation is crucial for accurately representing a company’s financial health and profitability. In this blog, we will explore a list of fixed assets, categorize them into tangible and intangible assets, and provide […]
Revolutionizing GST Compliance: The New Invoice Management System (IMS)
In a major leap for the GST ecosystem, the GST Common Portal has launched the Invoice Management System (IMS). This system transforms how recipient taxpayers handle invoices. Now, taxpayers can easily accept, reject, or keep invoices pending for future use. As a result, the process becomes more streamlined, improving reconciliation and boosting accuracy. Key Features […]
Streamlining Your Operations: Key Strategies for Sustained Business Growth!
In today’s fast-paced and competitive business world, success isn’t just about launching great products or services. It’s about ensuring that your internal processes are efficient, cost-effective, and scalable. Streamlining your operations is essential for maintaining efficiency, cutting unnecessary costs, and ultimately driving sustained business growth. In this blog, we’ll explore the key strategies that can […]