Essential Elements of Sales Invoice
Invoice is necessary for every business as you need it if you are selling and purchasing some goods or services. Every company or business is required to keep it in records. This is the reason it is considered an important document. Some important elements need to be included in every invoice. But one should take […]
E-invoicing under GST
GST council had implemented this e-invoicing feature in its 35th meeting which applies to the special category of individuals. Many people misunderstood this term as generation of invoice on GST portal but this is not so. E-invoice is a process of submission of already generated invoices on an e-invoice portal. E-Invoicing in detail is the […]
Must Have features for a billing software
Every business needs complete software that can make their tasks easier. But it is difficult to find such complete software. Customized software is preferred that can be changed according to the requirements. A software generally comes with a long list of features that are not required for every business. There are just a few features […]
Are Winnings from Online Betting taxable in India?
Following an increasing internet penetration in India, more and more Indians are beginning to make use of so-called online betting sites which allow users to place bets on popular sporting events from India and around the world and potentially win money. As with all activities that have an element of income-earning potential, the inevitable questions […]
GST Returns for Persons Registered under Composition Scheme
Details, as furnished in Details of outward supplies in Form GSTR-1, will be available to the composite dealer in Form GSTR – 4A. The dealer can add, correct or delete such details. After such addition, correction or deletion quarterly return in Form GSTR-4 is to be furnished. Form GSTR-4 shall include- (a) invoice wise inter-State and intra-State inward […]
GST on Hotels – A Complete Guide
Services provided by the hotel is a taxable service in GST. The place of supply will always be the state/union territory where the hotel is located even if the guest is a registered person and has GSTIN of another state. Therefore, a hotel has to charge SGST and CGST always. The guest can take input […]
Composition Scheme for Service Providers in GST
Introduction Composition scheme under GST law is for small businesses. This is to bring relief to small businesses so that they need not be burdened with the compliance provisions under the law. An option has been provided to the eligible taxpayer who can opt to pay a fixed percentage of turnover as fees in lieu […]
Invoice Terms and conditions for Indian Businesses
When a buyer receives an invoice from the seller, he expects it to be accurate with all the necessary details and an easy to read format. All the elements of the invoice should be properly places with the market standards like total amount is expected to be on bottom right. An important element of the […]
What is POS software and how it is different from Billing Software.
What is a POS software? POS stands for Point of Sale. A point of sale system, or POS, is the place where your customer makes a payment for products or services at your store. For example: When you go to Dominos and the counter person clicks on screen and select the items you orders and […]
GST Returns – Types of Return, Due Dates, How to File
Which GST Returns are required to be filed? (From 1st January 2021) A registered person is required to file following returns: GSTR-3B (Quarterly or Monthly) GSTR-1 (Quarterly or Monthly) GSTR-9 (Annual Return) Along with these returns, there are two forms IFF and PMT-06 which can be filed by persons filing returns on quarterly basis. These […]