It is not easy to rightly audit finances for small and medium businesses. A financial audit refers to the examination of the financial records of a business. This is done through a systematic review of the transactions, financial statements, accounting books, cash holdings, internal policies, and other sensitive financial data. Financial audits dig deep into […]
Needless to say, accounting software is essential for a flourishing business. In this day and age of modernization where business activities have moved online and the GST taxation system has made e-invoicing mandatory, best accounting software online with GST compliant technology support has become indispensable. FocusLyte is a user-friendly and efficient cloud-based GST compliant accounting […]
In India, the e-invoicing (electronic billing) system has been recently introduced under the GST scheme. This marks a revolution in invoice management. Needless to say, e-invoicing is the present as well as the future of invoicing in India. There are more than a handful of reasons why e-invoicing is advantageous as compared to the traditional […]
Notification on ITC-04 Notification 38/2019-CT dated 31.08.2019 issued waiving requirement to furnish declaration in FORM ITC-04 for the period July, 2017-March2018 and FY 2018-19The declaration in FORM GST ITC-04 of the CGST rules, in respect of goods dispatched to a job worker or received from a job worker, during the period from July, 2017 to […]
The GST Council, in its 37th meeting held at Goa, has come up with various proposals to simplify and strengthen the tax filing system and one such decision is aimed at ensuring taxpayers file their GSTR 1 in time. As per the statement by GSTN, “In order to nudge taxpayers to timely file their statement […]
