While decisions like opening another store or buying equipment are time-bound, working capital is a part of your everyday life as a business owner. You cannot overstate the importance of working capital, as you need it to cover salaries, pay suppliers, and buy inventory. This is why the understanding of different types of working capital …
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If you’re running a small business or managing HR, you already know that staying compliant with government rules isn’t optional but a part of the job. ESIC registration is also a part of this compliance. It is a legally established independent organisation that works under the Indian government’s Ministry of Labour and Employment. The ESIC …
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From infrastructure shortages to trouble hiring people, businesses in India face a variety of challenges. The biggest challenge, however, is to get business financing to run and grow a business. Lack of it makes 67% of Indian MSMEs turn to friends, family, and local lenders to borrow money. If you are running a business, you …
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There is a growing awareness among Indians about the benefits of organic foods and the harms of inorganic foods. This is why there is an increasing number of shelves in grocery stores laden with all-organic food products. You will find a dedicated store in your neighbourhood, as well. All this makes it a perfect time …
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Whether you are running an online shop or a small Kirana store, and no matter the type of business activity it facilitates, you must pay GST to comply with India’s tax regulations. The Goods and Services Tax is an indirect tax in India that replaces excise duty, services tax, VAT and more taxes. GSTIN number, …
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Inaccurate or delayed credit note and debit note inputs account for the majority of invoice discrepancies on the GSTN site. If you have found yourself staring at a tax notice because of a billing error, this might be the result of it, too. This is because businesses attract a penalty of up to ₹25,000 for …
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What is GST Composition Scheme? It’s a simplified tax option designed for small businesses with limited turnover. This scheme allows eligible taxpayers to pay GST at a fixed rate while avoiding complex filings and detailed recordkeeping. However, it does not permit input tax credit (ITC), but offers ease and efficiency. The government introduced the GST …
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Running a business often means dealing with cash flow gaps or needing funds to expand. That’s where business loans come in. They can help you purchase new equipment, hire staff, or scale operations. But not all loans are the same. There are mainly two types—secured business loans and unsecured business loans. Understanding the difference between …
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India’s taxation landscape underwent a major reform with the introduction of the Goods and Services Tax (GST). This unified tax structure replaced numerous indirect levies, bringing consistency to the country’s tax regime. For businesses seeking financial assistance, understanding the GST effect on loans is essential. While the loan amount and interest remain outside the GST …
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Business loans are financial tools that help companies grow, manage cash flow, and address day-to-day needs. Many small business owners view these loans as essential financial support, whether they require funds for expansion, inventory, or working capital. However, business loan myths exist and often discourage entrepreneurs from seeking much-needed assistance. Misconceptions range from the belief …
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GST reconciliation refers to verifying and matching your purchase bills, sales details, and GST returns to ensure everything is accurate. It is a regular activity that businesses should do to avoid mistakes while filing GST. However, if your records and returns do not match, the GST department may issue a notice or impose a penalty. …
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The Reverse Charge Mechanism (RCM) under Goods and Services Tax (GST) shifts tax liability from the supplier to the recipient. Typically, the seller collects GST and deposits it with the government. However, under RCM, the recipient is required to pay the tax directly. This mechanism helps bring unregistered vendors into the tax system, ensuring better …
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