Latest Articles By Shivani Kandalkar

Sections 206AB and 206CCA of the Income Tax Act were introduced to encourage timely filing of Income Tax Returns (ITR) and strengthen compliance. These provisions impose higher rates of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) on those who fail to file their returns within the due date. Below is a comprehensive… Read more

If you run a service business, GST service rates matter every single day. Your invoice value, final price to customers, and working capital all depend on the GST rate applied to your service category. In India, most services fall under the 18% GST rate, but some services are taxed at 5%, 12%, 0%, or are exempt,… Read more

Insurance services cover life insurance, health insurance, motor insurance, fire insurance and many other risk covers. In GST these services are classified under service accounting codes which work like HSN codes for services. Understanding the correct insurance HSN code helps insurers, agents and businesses apply the correct GST treatment, claim input tax credit wherever allowed and… Read more

Accounting software is a tool that helps you record, organise, and manage all your business money-related work in one place. It enables you to track sales, purchases, payments, bills, taxes, and reports without doing everything in registers or spreadsheets. In simple words, the accounting software is a system that helps a business maintain clean and correct… Read more

Accounting is changing fast. Earlier, most accounting work was about data entry, checking bills, and making monthly reports. Now, businesses expect faster updates, fewer errors, and real-time visibility. This shift is happening because of AI & automation. Today, AI accounting software is moving beyond basic billing and bookkeeping. It is helping businesses read data, match transactions,… Read more

The LIFO method (Last-In, First-Out) is an inventory valuation technique where the most recently purchased or produced goods are assumed to be sold first. This means that under LIFO, the cost of the latest inventory is matched with revenue, while older inventory remains in stock. This method is less commonly used worldwide than FIFO but can… Read more

GST bookkeeping means maintaining your business records in a way that supports correct GST reporting and smooth compliance. It is not only about saving invoices. It is about keeping all sales, purchases, stock movement, tax liability, and ITC records organised and verifiable. Accounts and records under GST are important because GST is a transaction based tax… Read more

Restaurant services cover supply of prepared food and beverages for consumption inside or outside the premises. Under GST, restaurant activities are treated as services and use specific service accounting codes instead of individual food HSN codes.

Packing charges are common in trade and services. Businesses often charge for cartons, wrapping, strapping and handling when they send goods to customers. These charges may appear as a separate line on the invoice or may be included in the price of the goods. To use the packing charges HSN code correctly and avoid mistakes in… Read more

Water bottles are used at home, in offices, schools and factories. Traders deal in many types such as simple plastic bottles, stainless steel bottles and insulated bottles used for travel and sports. For correct GST billing you should understand the water bottle HSN code , see how bottles are classified by material and know how the… Read more

Televisions are now common in almost every home, shop and office in India. LED TVs , smart TVs and other modern screens are used for entertainment, advertising and information display in many places. To use the TV HSN code correctly and apply the right GST rate, traders, electronics retailers and manufacturers need to understand how different… Read more

Stationery items like notebooks, pens , pencils , files and folders are used every day in schools, offices and shops. They look simple but cover many different materials such as paper, plastic and metal. To charge GST correctly and keep returns error free, businesses must understand how stationery items are classified under HSN and what GST… Read more

Sarees are one of the most popular traditional garments in India. Traders, boutiques, handloom units and large brands all need the correct saree HSN code so that GST is charged properly on cotton sarees, silk sarees and blended sarees. In this guide you will learn how sarees are classified under HSN, how cotton and silk sarees… Read more

PVC pipes are widely used for water supply, drainage, irrigation and electrical conduit work. Under GST, these products must be billed with the correct HSN code so that the GST rate, input tax credit and reporting remain correct. This guide explains the main PVC pipe HSN code, how fittings and related items are classified and how… Read more

Plastic scrap and plastic waste are important raw materials for the recycling industry. Many manufacturers, scrap dealers and recyclers buy and sell plastic scrap on a regular basis. To claim input tax credit and file accurate GST returns, it is necessary to use the correct plastic scrap HSN code and understand the applicable GST rate on… Read more

Pens are basic writing instruments used in schools, offices, banks and homes. They are an important part of everyday stationery for students, professionals and businesses. To use the pen HSN code correctly and charge GST without mistakes, traders, wholesalers and manufacturers need to know how different types of pens are classified under HSN and which GST… Read more

Iron and steel products are used in construction, machinery, household items and many other everyday applications. Bars, rods, pipes and scrap are common iron products in trade. To use the iron HSN code correctly and charge GST without mistakes, traders, fabricators and manufacturers need to understand how iron products are classified under HSN and which GST… Read more

Fevicol type adhesives are widely used in carpentry, furniture making, interior work, handicrafts and many other applications. Traders, hardware stores and contractors deal in different grades of adhesive like wood glue, synthetic resin based adhesive and construction adhesive. To use the Fevicol HSN code correctly and charge the right GST rate, it is important to understand… Read more

Fabrication means cutting, bending, welding and assembling different parts to make a new structure or product. In many businesses fabrication is done as a job work service on goods owned by the customer. Under GST such fabrication activities are normally treated as service and are covered under specific service accounting codes which work similar to HSN… Read more

Dry fruits like almonds , cashews , raisins , dates and pistachios are used in homes, sweet shops and restaurants across India. They are sold in loose form, small packets and gift boxes during festivals and round the year. To use the dry fruits HSN code correctly and apply the right GST rate, traders, wholesalers and… Read more

Air coolers and water coolers are common in Indian homes, shops, offices and schools where they provide comfort during hot weather. Businesses also install large coolers in factories, warehouses and public areas for staff and visitors. To use the cooler HSN code correctly and apply the right GST rate, traders, dealers and installers need to understand… Read more

Chairs are used in homes, offices, shops, schools and many other places. They include simple plastic chairs , cushioned office chairs and revolving chairs for workstations. To use the chair HSN code correctly and apply the right GST rate, dealers, furniture makers and office suppliers need to understand how different types of chairs are classified and… Read more

Caps and headgear are common fashion and utility items sold by garment stores, sports shops and corporate gift vendors. Under GST, caps are classified using HSN codes that fall under the headgear chapter. Correct cap HSN code selection ensures the right GST rate and smoother input tax credit claims.

Bricks are basic building materials used in houses, boundary walls, factories and many other structures. Common types include red clay bricks, fly ash brick s and cement bricks and blocks. To use the bricks HSN code correctly and charge GST without mistakes, traders, builders and brick manufacturers need to know how different bricks are classified under… Read more

Aluminium scrap is generated in large quantities by metal fabricators, cable makers, window frame manufacturers, casting units and recycling yards. Traders buy this scrap and supply it to smelters and foundries that convert it back into usable metal. To use the aluminium scrap HSN code correctly and apply the right GST rate, scrap dealers, recyclers and… Read more