Author: Mehul Jagwani

2024 was a transformative year for the indirect tax system in India, i.e. GST. We witnessed unprecedented reforms in the GST, such as the Amnesty Scheme, the re-introduction of the form GSTR-1A, the implementation of the Invoice Management System (IMS), and the facility to declare negative tax liability. These were the major updates in GST… Continue reading GST Updates 2025: Everything You Need to Know About New Changes in GST

The success of any business depends on the profitability of the products or services a company offers. The profitability of a business is a function of sales price and the cost incurred. Increasing sales prices beyond a specific limit can give you an edge over your competitors and may capture your market share. So, as… Continue reading Comparing Financial and Cost Accounting Systems in Management

Have you ever tracked your order on e-commerce marketplaces to see when it will get delivered? How does it feel knowing the latest status of your order? It feels like you are informed, right? How would you feel knowing that a similar system is implemented in the GST registration process? Yes, you read that right.… Continue reading ARN Number: What is ARN & How to Check GST Registration Status Online

International Financial Reporting Standards (IFRS) is a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB); these accounting standards or frameworks are accepted by India.  In 2011, the Institute of Chartered Accountants of India released a concept paper on the strategy of adoption of IFRS in India. This move was… Continue reading International Financial Reporting Standards: Gateway to Foreign Investment

Imagine this: Mr. A, owner of ABC Enterprise. It happened once; he remembered that a payment of Rs. 50,000 was pending from Mr X’s end (who happens to be Mr A’s client). He checked his bank account statement but could not find any credit entry from Mr X. Then he decided to follow up with… Continue reading From Paper to Proof: Role of Cash Receipts in Accounting

‘Invoicing’ and ‘billing’ are the widely used terminology in accounting. Normally, they are used interchangeably even in accounting practice, but the reality is that both the terms are distinctively different. This revelation might shock you, or you may think we are factually incorrect, right? Read this blog until the end and decide what is right… Continue reading Invoicing and Billing: The Twin Pillars of Business Finance