Latest Articles By Nishant

Reverse Charge Mechanism on Goods vs. Services: A Comparative Analysis With the Reverse Charge Mechanism (RCM), the responsibility of tax liability is moved from the supplier of goods or services to the receiver of goods or services. It would require ascertaining rates of goods and services of different categories, which would differ based on the

Impact of GST Validation on Financial Audits: What Businesses Need to Know Financial audits play an important role in ensuring the reliability and accuracy of financial information. By independently verifying financial statements, auditors help identify errors, fraud, and non-compliance with accounting standards and regulations. This enhances transparency, accountability, and investor confidence. BOOK A FREE DEMO

Debit Notes vs Credit Notes: Key Differences and When to Use Them? Debit and credit notes are essential accounting documents businesses use to correct errors or adjust invoice transactions. They help maintain accurate financial records and ensure compliance with tax regulations. Let’s understand them better. BOOK A FREE DEMO Understanding the importance of Debit Notes

How to Do GST Registration for an E-Commerce Business? GST has benefited e-commerce businesses in India by simplifying taxation, reducing compliance burdens, and eliminating the cascading effect of taxes. This has led to improved competitiveness, lower costs, and increased transparency. GST has also boosted e-commerce growth by allowing businesses to expand and invest more. The

The Future of GST Software: Trends and Innovations to Watch The future of GST software is ready for significant advancements driven by technological innovations. Artificial intelligence, robotic process automation, and blockchain integration are transforming the landscape. Innovations will streamline processes, reduce errors, and enhance compliance in the coming years. These advancements are revolutionising financial management

The Difference Between GST and Income Tax: What You Need to Know GST (Goods and Services Tax) and income tax are two key components of the tax system, but they serve different purposes. GST is an indirect tax on the sale of goods and services based on product or service consumption. It replaces other indirect

The Role of GST Accounting Software in Streamlining Business Operations With the increasing demand for GST compliance, businesses need a reliable solution to manage their GST-related tasks. Given the growing importance of GST compliance, businesses need to explore and understand the capabilities of GST accounting software, such as automating invoice generation, accurate record-keeping, and more.

Common Issues Faced While Downloading GST Certificate and How to Resolve Them The GST certificate is crucial for any business registered under India’s Goods and Services Tax. It serves as proof of registration and is essential for various compliance purposes. However, many businesses encounter issues while trying to download their GST certificate.These challenges include login

GST State Code List & Jurisdiction In GST, the State Code is a two-digit number that shows which state or union territory a business belongs to. It is part of the GSTIN (Goods and Services Tax Identification Number) and helps decide if a sale is within the state or between states. GST Jurisdiction tells you

Impact of GST on Hotel Industry From Rs. 15.24 lakh crore (US$ 234.03 billion) in 2017 to Rs. 32.05 lakh crore (US$ 492.21 billion) in 2028, the Indian hospitality and tourism sector is predicted to grow. The impact of Goods and Services Tax GST in the hotel industry in India has been significant since its

The Impact of GST on Gold and Gold Jewellery The introduction of Goods and Services Tax (GST) in India in 2017 has had a significant impact on the gold and gold jewellery industry. Prior to GST, gold was subject to multiple taxes, including excise duty, value-added tax (VAT), and customs duty. However, with the implementation

GST Registration Certificate – Everything You Need to Know A GST Registration Certificate (Form GST REG-06) is provided to all businesses and individuals registered under the Goods and Services Tax (GST) Act. The GST Certificate is one of the most important documents your business must obtain while registering for GST. In this article, we will

Summons Under GST- Rights and Duties of a Taxpayer BOOK A FREE DEMO What is a summons under GST? A summons is an order issued by a court or a government administrative body requiring any individual to appear in person in court or at the relevant office. Section 70 of the CGST Act 2017 empowers

A Guide to Debit Notes under GST Debit notes, also known as debit memos, are commonly used in business-to-business (B2B) transactions. It assists the buyer in keeping track of his debt obligations to the supplier for goods or services received. It also helps suppliers in correcting undervalued invoices. BOOK A FREE DEMO What is a