Book keeping and accounting meaning Website link Book keeping and accounting meaning Bookkeeping and accounting are two closely related concepts that involve the recording, organizing, and reporting of financial transactions and information for a business or organization. While they are interconnected, they have distinct meanings: Bookkeeping: Bookkeeping refers to the process of recording and maintaining… Read More »
Turnover Certificate from GST Portal To download a turnover certificate from the GST (Goods and Services Tax) portal, you can follow these steps: 1. Visit the GST Portal: Go to the official GST portal of your country. For example, in India, the GST portal is https://www.gst.gov.in/. 2. Log in to Your GST Account: Log… Read More »
Total Liabilities V/s Current liabilities Understanding the Difference Between Total Liabilities and Current Liabilities In the realm of finance and accounting, understanding a company’s liabilities is crucial for evaluating its financial health. Two key terms often encountered are total liabilities and current liabilities. While they may seem similar, they serve distinct purposes in financial… Read More »
Supporting documents Supporting Documents, To register a trade name for GST (Goods and Services Tax) registration of a proprietorship in India, the following documents are generally required 1.PAN (Permanent Account Number) card of the proprietor: PAN card is a mandatory requirement for GST registration. It serves as an identity proof for the proprietor. 2.… Read More »
Register a Sole Proprietorship Register a Sole Proprietorship, There are numerous advantages to register a sole proprietorship, making it a commonly recommended choice for various legal, financial, and operational purposes. Here are some key reasons why you might want to register your sole proprietorship: Legitimacy and Credibility: Registering your sole proprietorship provides a level of… Read More »
Business Registration Certificate for Sole Proprietorship A sole proprietorship is one of the simplest and most common business structures, especially for small businesses and individuals. It’s a business owned and managed by a single person, and there is no legal distinction between the owner and the business. While setting up a sole proprietorship is straightforward,… Read More »
Applicable GST GST extra as applicable” indicates that the price mentioned for a product or service does not include the Goods and Services Tax imposed by the government. The GST amount will add separately to the quoted price, and the final price will include in it. So the GST amount will add to the quoted… Read More »
Accrued expense definition Accrued expense definition, Accrued expense and outstanding expense are both terms relate to expenses that are incur but not yet paid. However, there is a difference between the two terms: Accrued expense An accrued expense is an expense that has been generate but not yet paid, and has not been record in… Read More »
Understanding “Assigned to the Center” and “Assigned to State” in GST REG-01 Registration When registering for the Goods and Services Tax (GST) in India using the GST REG-01 form, applicants encounter various fields that need to be meticulously filled out to ensure accurate registration. Among these, two fields often create confusion: “Assigned to the Center”… Read More »
GST registration eligibility In India GST registration eligibility depends on businesses and individuals engaged in the supply of goods or services require to register for GST if their annual turnover exceeds Rs. 20 lakhs and Rs. 10 lakhs for businesses in some special category states). For more information to Visit https://www.gst.gov.in/ Some categories of businesses,… Read More »
