Introduction to Goods and Service Tax (GST)

Introduction of  Gst means Goods and Service Tax. Has been introduced to substitute various indirect taxes imposed by Central and State Governments in a way to clarify the indirect tax system. It is a tax which is made on the sale, making and the practice of the goods and services. It is an individual tax that is lived on the supply of the goods and services. Right from the manufacturer to the customer. GST means is a consumption-based tax conclusively shown by the end consumer of goods or service. Businesses [...]

By | 2019-05-18T08:40:18+00:00 May 18th, 2019|GST|Comments Off on Introduction to Goods and Service Tax (GST)

Meaning, Factors and Best ways to Bill Discounting

Bill discounting is a source of working capital finance for the seller, who is providing goods on credit. It is an arrangement between the seller and a financial institution. Here the seller sells the sales bill to the institution before it becomes due. This institution would provide a discounted amount for holding on to the bill until it becomes due. Once due, the institution recovers the amount from the buyer. Generally, the bank or other institutions provide for 80% of the invoices, those are maturing within 90 days. In the world of start-ups, [...]

By | 2019-04-23T06:28:25+00:00 April 23rd, 2019|Business Loan, loan|Comments Off on Meaning, Factors and Best ways to Bill Discounting

8 Techniques to promote your business in India

Introduction We all are pretty much aware of the traditional techniques that the business owner adopts to put their products or services in front of their customers. TV Ads are most prevalent when businesses are at the start. But it takes a lot of money. There are many other techniques also through which you can promote your business without spending a lot of money. In this article, we will discuss how to promote business with free marketing techniques. Apart from this, all you need to spend time on it. How to promote business [...]

By | 2019-04-12T13:19:19+00:00 April 12th, 2019|Others|Comments Off on 8 Techniques to promote your business in India

What are Fixed assets | Why is it considered important while preparing balance sheet

Introduction Fixed assets are the asset which a company holds for a long period of time and use it to manage its operations and conduct business. These assets are not sold in the current financial year. For instance, let's say a company buys a building worth Rs.50 lakh for its operations. Now, the company uses this building to further its business and generate revenue. The total worth needs to be mentioned in the balance sheet of the company. The term 'fix' is used to indicate its long term bond with [...]

By | 2019-04-11T12:44:34+00:00 April 11th, 2019|Others|Comments Off on What are Fixed assets | Why is it considered important while preparing balance sheet

Everything you should know about writ petition

Definition A writ petition is a written formal order to carry out a function/command. In India, the Supreme Court and High court has the authority to file the writ petition. The high court uses Article 226 and the Supreme court uses Article 32. It is done to safeguard your fundamental rights. Orders, warrants, directions are all such examples of writs. Even, Parliament can extend its power to issue writs for any other courts. Types There are in total of 5 types of writ petition a court can order. These are: Habeous Corpus [...]

By | 2019-04-08T13:28:48+00:00 April 8th, 2019|Others|Comments Off on Everything you should know about writ petition

What is legal heir certificate | How you can obtain it

What is a legal heir certificate? When an employee (could be an earning/retired central government or state government) passes away unexpectedly, then a legal heir certificate is issued. In layman's term, to transfer the benefits of the employee to his/her heirs, the necessary document involved is a legal heir certificate. This certificate establishes a relationship between the deceased and the legal heirs. After obtaining the death certificate, a person can apply for this certificate. You can take the services of a lawyer to carry out this process. Also read: Death claims [...]

By | 2019-04-08T13:21:18+00:00 April 8th, 2019|Others|Comments Off on What is legal heir certificate | How you can obtain it

How to measure and maintain cash flow

Introduction When a company operates, there is cash flow. The expenditure and income combine to formulate the cash flow. When there is income it is called inflow of cash and when there are expenditures, then it is called outflow of cash. The difference between both of these comes to be known as either positive cash flow and negative cash flow. The company has to take care of its cash and always remember "Cash is King" There are 2 types of cash flow: Positive Cashflow If the flow of cash in [...]

By | 2019-04-08T13:12:56+00:00 April 8th, 2019|Others|Comments Off on How to measure and maintain cash flow

How to avail Bharat QR code services

Introduction Bharat QR (Quick Response) code is a 2-dimensional machine-readable code made up of black-white squares of different size. These are scanned by the smartphone camera. According to the RBI, Bharat QR code is used to standardize payments using QR code throughout the country. Mastercard, VISA and American Express have collaborated with National Payment Corporation of India (NPCI) to launch and push Bharat QR code alternative to payments. After demonetization, the Indian government has made its priority to make payments online initiative. For this, the government has launched UPI (Unified Payments Interface) for [...]

By | 2019-04-08T11:55:24+00:00 April 8th, 2019|Others|Comments Off on How to avail Bharat QR code services

Why a businessman opts for bank guarantee

Overview Bank guarantee comes in place of a debtor in case he/she is unable to make payments to the creditors. Bank would perform the duties of a debtor for a commission, which varies between 0.5-1.5% of the guaranteed amount. It has become a necessity to obtain a guarantee when the transactions are huge and instead of going for any 3rd party, the bank becomes an easy way out. The parties involved are Bank Debtor Creditor Must read: What are the benfits of good credit score Documents Required to apply for a [...]

By | 2019-04-08T11:24:18+00:00 April 8th, 2019|Others|Comments Off on Why a businessman opts for bank guarantee

11 important points about Krishi Kalyan Cess

Swachh Bharat Cess introduced by the prime minister of India was an initiative to bring about cleanliness in the country. Likewise, Krishi Kalyan Cess was launched in order to contribute extra support to farmers for producing agricultural activities. The finance minister suggested the Krishi Kalyan Cess in February 2016 Budget. The KKC was implemented on 1 June 2016. KKC adds on extra 0.5 per cent to people service tax load. After the new addition, the service tax rate on all the services one use reaches 15 per cent. Krishi Kalyan [...]

By | 2019-04-08T08:14:45+00:00 April 8th, 2019|Others|Comments Off on 11 important points about Krishi Kalyan Cess