A Reddit user sparked a debate among netizens and finance experts after being charged a hefty 18% GST on his restaurant bill. The viral post claimed that it should be 5% GST, it seems they are away from the truth. Some netizens also claimed the restaurants are taking advantage of complex GST rules and filing… Continue reading GST on Restaurant Food: GST on Food Items and How to Spot Overcharges
Accounting Software for Restaurants: 5 Key Benefits!
Steering a food service business isn’t only about good food and full tables – It also caters to tight margins, massive transactions, and crystal-clear financial clarity. Leveraging manual bookkeeping and outdated spreadsheets in the food and beverage industry silently drains out time, money, employee efficiency, and growth potential. That’s when accounting software for restaurants enters… Continue reading Accounting Software for Restaurants: 5 Key Benefits!
Steps and Procedures for GST Cancellation: A 5-Min Read!
GST registration opens the gateway to a simplified compliance management, but what if business no longer needs it? Would you cancel it? Doesn’t matter if your business is shutting down, switching operations, or simply the revenue is going down, GST cancellation becomes important in such scenarios. But do you know improper cancellation can cause unnecessary… Continue reading Steps and Procedures for GST Cancellation: A 5-Min Read!
Master Account Reconciliation: Understanding the Meaning, Types and Process
Have you ever been in a situation where bank balance does not match with account balance? Even if the mismatch is of only a few thousand rupees it could throw you into panic mode. On a daily basis, countless businesses face this problem and the solution is quite simple i.e account reconciliation. In this blog… Continue reading Master Account Reconciliation: Understanding the Meaning, Types and Process
QRMP Scheme: Definition, Quarterly Filing Dates, and Expert Tips!
Every evolving compliance landscape demands efficiency and simplicity at every stage- especially for startups and medium-sized businesses. To align with these GST compliance requirements, the Indian government introduced the QRMP scheme (Quarterly Return Filing and Monthly Payment Taxes). This game-changing initiative under GST strikes the perfect balance between regulatory compliance and operational ease. The QRMP… Continue reading QRMP Scheme: Definition, Quarterly Filing Dates, and Expert Tips!
What is EBITDA? A Simple Guide to Understanding and Calculating It
If you have ever switched to a financial markets news channel then it is highly likely that you might have heard the lingo ‘EBITDA’ many times from the panelist. Isn’t it? So what’s the hype about EBITDA in business? Do you want to know the significance of the same in your business? That’s what we… Continue reading What is EBITDA? A Simple Guide to Understanding and Calculating It
What is Form 26AS And How to Download It?
Imagine you have a personal tax passbook that records your income statements, TDS deductions, advance tax payments, and high-value transactions in one place. Does this sound convenient to you? That’s where Form 26AS comes into play! You must be wondering what is Form 26AS? This article will take you through all the key areas of… Continue reading What is Form 26AS And How to Download It?
Latest GST Rates in India 2025-26: Structure, Types & Item-Wise Slabs
GST, a singular tax system, adopted in India in 2017 as a part of ‘One Nation. One Tax’ initiative led by the Central Government. It has replaced several indirect taxes such as Value Added Tax (VAT), Service Tax and Excise Duty. This triangular tax structure was making accounting difficult, businesses needed to pay high compliance… Continue reading Latest GST Rates in India 2025-26: Structure, Types & Item-Wise Slabs
Explained: Input tax Credit under GST (ITC)
India’s indirect taxation system has evolved from Zakat and Value Added Tax (VAT) to Goods and Services Tax (GST). In this transition many changes are implemented for the benefit of small and medium businesses and to encourage ‘Ease of Doing Business’ in India. One of the prominent positive changes is Input Tax Credit under GST.… Continue reading Explained: Input tax Credit under GST (ITC)
What is Invoice Management System: A Complete Guide!
Invoices form the core of a business, ensuring smooth cash flow and organized financial records. Manually managing invoices is time-consuming, tedious, frustrating, and error-prone. Lost bills, missed payments, and compliance-related issues mess up business operations. An invoice management system becomes a game changer for businesses that deal with massive transactions. Whether you are a newbie… Continue reading What is Invoice Management System: A Complete Guide!