Role of AI and Automation in GST Refund Processing
Introduction The Goods and Services Tax (GST) framework in India was introduced to simplify indirect taxation, yet refund processing continues to be one of the most challenging aspects for businesses. Delays, documentation errors, and manual scrutiny often create roadblocks, directly impacting working capital. This is where Artificial Intelligence (AI) and automation are transforming the landscape. […]
CCM: The Next Swift Change in Internal Controls and Internal Audit
Why Internal Audit Needs a Shift Now More Than Ever In today’s business landscape, where data flows in milliseconds and risks emerge overnight, traditional internal audit and control reviews performed after the fact are no longer sufficient. Management wants real-time assurance, regulators expect evidence-based governance, and stakeholders demand transparency. Enter: Continuous Controls Monitoring (CCM) a […]
Refund of Unutilised ITC on Business Closure: Sikkim High Court’s Landmark Ruling
Introduction What happens to unutilised GST Input Tax Credit (ITC) when a business shuts down? Until now, the law was silent, and authorities often rejected refund claims. The Sikkim High Court, in a landmark ruling (SICPA India Pvt. Ltd. & Anr. v. Union of India & Ors., 10 June 2025), has clarified that taxpayers are […]
Top AI Tools for Accounts in 2025
Introduction As we step into 2025, artificial intelligence (AI) is revolutionizing accounting by automating mundane tasks, boosting accuracy, and delivering predictive insights—without the need for full-fledged ERP systems. For virtual CFO services specializing in digital transformation for finance, accounts, and compliance, pure AI tools offer targeted solutions to streamline operations, cut errors by up to […]
Tax Benefits for Startups in India: Eligibility, Government Recognition & Application Process
Starting startups in India is like planting a seed, you have got the ideas, the drive, and the vision, but you also need the right conditions to grow. In the first few years, every rupee matters, and heavy taxes on income can feel like a burden. The good news? The Government of India is stepping […]
Bharat Mint Wins CGST Refund Dispute: Court Rules in Favor of Substance Over Form
Introduction Filing for a GST refund can be a complex process, especially when technical issues or software errors get in the way. One such case recently made headlines when Bharat Mint & Aroma Chemicals, a registered taxpayer, found their genuine CGST refund claim denied—simply because the refund was mistakenly filed under the wrong tax head. […]
Startup Schemes for AI Startups in India: Who’s Actually Funding Innovation?
AI startups in India are growing fast, but turning a great idea into a real product takes more than just ambition hence it needs the right kind of funding and support. To help with this, the Indian government has rolled out several funding schemes designed especially for AI and deep-tech startups. These programs don’t just […]
Internal Controls & ICFR Reporting: A Backbone of Corporate Governance
Introduction In any business, whether it is a fast-growing startup or a well-established company, having the right systems in place lays the foundation for long-term success. And here the internal controls come in. Think of them as protective measures that help businesses run smoothly and use resources effectively and efficiently. They help spot errors, catch […]
📘 Mastering Form 16 – A Practical Guide for Employers & Employees
Every year, when tax season is around the corner, most salaried people will hear the words “Form 16” from their HR or payroll team. In fact, it isn’t just some formality — instead, it serves as the paper trail that confirms the TDS mentioned in your payslip has actually made its way to the government’s […]
Cash In, Not Out: GST Refund Best Practices for Growing Startups
Introduction Startups in India operate in a fast-paced environment with limited resources and tight cash flows. While GST compliance is mandatory, GST refunds are an often-ignored opportunity to bring much-needed liquidity back into the business. If you’re exporting services, facing an inverted duty structure, or accumulating excess Input Tax Credit (ITC), you may be eligible […]