Before the advent of GST, the tax structure of India used to be a complex one. Different taxes were levied on the businesses that demanded to be taken care of in various departments in different cycles. The criteria for tax payment also used to be different depending on the concerned state. It was especially detrimental …
Read MoreBE GST-COMPLIANT FOR A HIGHER PROBABILITY OF OBTAINING A BUSINESS LOAN: HERE’S HOW The recent-most tax reform, namely Goods and Services Tax (GST) has been conceptualized with the aim of increasing decentralization, increasing business opportunities and increasing the GDP of the country. Small and Medium Enterprises (SME) is a considerably large segment of the business …
Read MoreIntroduction of GST, the Goods, and Services Tax has been the most dramatic and revolutionary tax reform in India. The debut of this comprehensive taxation system brought a huge impact on businesses across the nation. The Goods and Services Tax achieved the standardization of various indirect taxes levied by the State/UT and Central Governments. However, …
Read MoreThe key to becoming a winning tycoon is depended upon the numerous ideas that crop in an individual’s mind. But, ideas alone cannot make you an industrialist and simultaneously with these concepts, you will require an essential element with which you can convert your dream in action. “Fund for Business” is that missing link. Solely …
Read MoreMSMEs play an important role in augmenting the overall economic growth of the country. Whilst, promoting inclusive development MSMEs contribute towards driving the growth of various other sectors as well. In India, MSMEs constitute a wide network of around 63 million independent units. The contributions of these medium and small scale enterprises in increasing the …
Read MoreToday markets have opened up a lot of funding opportunities for SMEs and MSME. With a plethora of loan options available at convenience, borrowers are often faced with a dilemma of choosing between a traditional bank and an NBFC. However, this issue is much of concern when a borrower opts to avail the business line of …
Read MoreACCOUNTING SOFTWARE FOR SMALL BUSINESS Whether you are an established enterprise, a freelancer or a business trying to enter the market, there is one field you cannot do without and that is accounting. Today, the SME and MSME sector is growing rapidly and their revenues and profits are also increasing The government taxation policies are …
Read MoreJust like how every individual with a registered PAN card ID or an Income Tax ID has been allotted a specific number with regards to their registration, every individual/business entity registered on the GST portal is assigned a specific number once their registration is complete. This is known as the GST identification number or the …
Read MoreThe Goods and Services Tax has been a transformation in the Indian Economy System, changing the way business has been carried out for years. Earlier, a business would have to pay tax under various heads such as VAT, Indirect Tax, Service tax, etc. which all added up to 17 different types of tax heads depending …
Read MoreFor businesses, it is obligatory to register for a unique GST Identification Number (GSTIN). According to the CGST Act of 2017, it is mandatory to have a GSTIN number to collect GST-related taxes and claim credit returns. Are you a business owner searching for how to do GST registration or identify the GST state code? …
Read More
