Setting up Your Accounts-Part 1

Best Accounting Practices

When you are starting your business handling accounting and compliance can be daunting. There are a few  common mistakes that early stage businesses commit; of course with the right advice you can avoid these pitfalls. Part 1 of this blog looks at setting up your accounting system. Open a Bank Account It is best to […]

GST News-GST Interest: Delay in Payment of GST

IGST for Advertisement Services

Here is the latest GST News- GST Interest  on delayed payment of taxes.The Government has started sending out notices for recovery of interest on delayed payment of GST. GST interest has been on the radar of the GST department for a long time. This move comes after the GST collections have been below par this […]

How to Manually File GST Refund Claims

Manually File GST Refund

The Government of India is introducing new policies for the benefit of the nation. Last year in November government introduced Demonetization to prevent hoarding of black money and in July 2017 it introduced Goods and Services Tax, a group of indirect taxes which replaced a lot of indirect taxes levied by State and Central Government. […]

GST FAQs on Composition Scheme

GST FAQs on Composition Scheme

Our second part in the GST FAQs series deals with the Composition Scheme which was introduced under the Goods and Services Act keeping the best interests of small businesses in mind. SMEs often face the challenges of maintaining various compliances with the statutory bodies of the country in a timely manner. Composition Scheme permits the taxpayer […]

GST FAQs on Services – All You Need to Know

GST FAQs on Services

The Central Board of Excise and Customs have curated a list of Frequently Asked Questions on the Goods and Services Tax that were received from various sources and based on further scrutiny & development, those questions were converted into short FAQs.

Valuation in GST – Rules for Supply of Goods or Services

Valuation in GST

Section 15 of the CGST Act and Determination of Value of Supply, CGST Rules, 2017 contains the provisions related to the valuation in GST for the supply of goods or services made in different circumstances and to different persons. Valuation in GST Every fiscal statue makes provision for the determination of value as the tax […]

Accounts and Records under GST

Accounts and records under GST

Section 35 of the CGST Act and “Accounts and Records” Rules (hereinafter referred to as rules) provide that every registered person shall keep and maintain all records at his principal place of business. It has cast the responsibility on the owner or operator of warehouse or godown or any other place used for storage of […]

CGST Rate Schedule Notified By The Government

CGST rate schedule

On 28th June 2017, under sub-section (1) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government notified the CGST rate schedule applicable to goods. This notification shall come into force with effect from the 1st day of July 2017. As per the Goods and Services Tax Regime, […]

Ways to File an Appeal under GST

Appeal Under GST

Previously, we spoke about the various Anti-Profiteering rules under GST Law. Today we will be talking about the ways of filing an appeal under GST regime. Laws, in general, impose two kinds of obligations. The first obligation is related to tax and the second obligation is related to the procedure. Any registered taxpayer’s compliance with […]

The most frequent problems that business owners face are to do with accounting & regulatory compliance. Entrepreneurs view time invested in doing both as unproductive time.

34, Manikanta Sankeerana

Complex, 1st Floor Gangamma Temple St.