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In India, the GST on car purchasing ranges from 5% to 40% depending on the vehicle’s fuel type, engine capacity and length. From 22 September 2025, small petrol, CNG, and...

AI accounting software is equipped with artificial intelligence to handle repetitive accounting tasks and helps in understanding financial transactions. It is useful for India’s small and medium-scale businesses in invoicing,...

Under the periodic inventory system, purchases are recorded throughout the accounting period, but inventory records are updated only after a physical stock count. The business then values closing stock and...

A GST registration is required for a sole proprietorship if the turnover exceeds the specified limit or falls under compulsory registration norms. The proprietor needs to apply using his/her PAN...

The GST Ghatak list helps businesses in Gujarat to find the State Tax jurisdiction under their principal place of business. Currently, Gujarat is divided into 103 Ghataks. While registering the...

When businesses have more inventory on hand to sell or use, it is considered to be excess. Obsolete Inventory is Stock that is no longer saleable or usable. Both inventories...