Understanding Sales Order vs Invoice is very crucial for Indian businesses that involve structured sales and dispatch and billing process. These two documents have different uses during the sales cycle.…
Accurate bookkeeping is dependent on appropriate classification of expenses. A common area of confusion is the difference between a regular expense entry or prepaid expenses journal entry. Both involve payment…
The section 43B(h) of Income Tax Act is very important for Indian businesses in respect to payments made to MSME vendors. This section has the effect of ensuring that expenses…
The deferred revenue journal entry is a concept that is very essential for Indian businesses that receive payment before rendering goods or services. It is an obligation to provide products…
The EVC in GST is a common practice for conducting authentication for filling returns, submitting applications, and making compliance on the GST portal. Traders, MSMEs, startups and service providers have…
Every movement of goods under GST is based on precise data regarding transport. The pin to pin distance GST establishes the validity duration of an e-way bill and whether the…
GST invoicing decisions making in India is largely dependent on one of the basic rules that businesses tend to underestimate. The Place of Supply under GST is the issue of…
Running an Indian business involves a lot of payments to the contractors for their work or labour. The section 194C of Income Tax Act provides for payment of tax to…
The section 112A of income tax act plays an important role in taxation of long term capital gains from equity investments in India. This provision has a direct impact on…
Indian businesses are dealing with daily currency fluctuations, changes in interest rate and price volatility. Exporters charge in dollars in hedge accounting, manufacturers borrow at floating rates and infrastructure companies…
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