The Ultimate Guide to Fully Electronic GST Refund Process in India
The introduction of the Goods and Services Tax (GST) brought significant changes to India’s tax structure. To ease the burden of tax compliance, the Central Board of Indirect Taxes and Customs (CBIC) introduced a fully electronic GST refund process via FORM GST RFD-01. This streamlined process offers businesses greater efficiency and transparency. Here’s an in-depth […]
The Role of AI and Automation in Digital Accounting!
Digital accounting has significantly evolved over the years, and one of the key drivers of this transformation is the integration of Artificial Intelligence (AI) and automation. These technologies are not just trends—they are reshaping how businesses manage their finances, offering increased efficiency, improved accuracy, and valuable insights. In this blog, we’ll explore the pivotal role […]
Benefits of Hiring a Virtual CFO: From Cash Flow to Compliance!
In today’s dynamic business environment, financial expertise is crucial to ensure long-term success. However, not every business can afford a full-time Chief Financial Officer (CFO) to handle strategic financial planning, cash flow management, and regulatory compliance. This is where a Virtual CFO steps in as a cost-effective and flexible solution. A Virtual CFO provides businesses […]
Changes and Compliances in GSTR 9 & 9C for FY 2023-24
Introduction The evolving landscape of GST regulations, combined with departmental audits, has significantly impacted the process of filing annual returns. This article provides a comprehensive overview of the changes in Form GSTR 9 and GSTR 9C for FY 2023-24, along with reconciliations, best practices, and solutions to advanced issues. Key Dates Reconciliations to Perform Essential […]
Why Are Large-Scale Indian Enterprises Lagging Globally In AI Adoption?
In the era of rapid digital transformation, artificial intelligence (AI) has emerged as a pivotal force driving innovation, efficiency, and competitive advantage across industries. While global enterprises are reaping the benefits of AI, many large-scale Indian enterprises appear to be lagging behind in adopting this transformative technology. This raises a crucial question: why is India, […]
Understanding the Difference Between Table 8A and 8C in GSTR-9 for FY 2023-24
The Goods and Services Tax (GST) system is always evolving, and taxpayers need to stay updated. For FY 2023-24, changes in the way Input Tax Credit (ITC) is reported in Table 8A and Table 8C of GSTR-9 have caused confusion for many businesses. This guide explains these changes and offers practical solutions to common issues. […]
Real Estate – Understanding RCM Provisions
The new GST scheme requires builders and developers, referred to as promoters, to procure at least 80% of their inputs and input services from registered suppliers (RPs). If this threshold is not met, promoters must pay GST on the shortfall under RCM at 18%. Importantly, this calculation applies project-wise rather than entity-wide. Key Notifications and […]
Top 7 Challenges in Digital Accounting and How to Overcome Them!
Digital accounting has revolutionized the way businesses manage finances, offering enhanced efficiency, accuracy, and real-time insights. However, transitioning to digital accounting is not without its challenges. Many businesses encounter roadblocks when implementing or utilizing digital solutions effectively. Understanding these challenges is the first step toward overcoming them. In this blog, we’ll explore the top 7 […]
Comprehensive GST Updates: April to November 2024
The period from April to November 2024 brought several important updates in India’s Goods and Services Tax (GST) framework. This blog consolidates major GST circulars, policy updates, system enhancements, compliance requirements, and economic indicators, ensuring businesses and taxpayers stay informed about the evolving tax landscape. GST Circulars and Notifications (April to November 2024) July 2024 […]
Virtual CFO vs. In-House CFO: Which Is Right for Your Business?
Every business, regardless of its size, needs strong financial leadership to navigate challenges, optimize growth, and maintain financial stability. But when it comes to choosing a Chief Financial Officer (CFO), the decision isn’t as straightforward. Should you hire an in-house CFO, or would a Virtual CFO be a better fit? This blog explores the key […]