Best billing software in kerala

GST – Analysis and Opinions Updated on  Oct 24, 2018 - 06:36:58 PM GST  has brought in ‘one nation one tax’ system, but its effect on various industries is slightly different. The first level of differentiation will come in depending on whether the industry deals with manufacturing, distributing and retailing or is providing a service. Impact of GST on Manufacturers, Distributor, and Retailers GST is a boost competitiveness and performance in India’s  manufacturing sector . Declining exports and high infrastructure spending are just some of the concerns of this sector. Multiple indirect taxes had also increased the administrative costs for manufacturers and distributors and with GST in place, the compliance burden has eased and this sector will grow more strongly. But due to GST business which was not under the tax bracket previously will now have to register. This will lead to lesser tax evasion. Impact of GST on Service Providers As of M...

What is GST Return? A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under  GST , a  registered dealer  has to file GST returns that include: Purchases Sales Output GST (On sales) Input tax credit (GST paid on purchases) To file GST returns, GST compliant sales and purchase invoices are required. You can generate  GST compliant invoices  for free on  ClearTax BillBook . 2. Who should file GST Returns? In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year. The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The other return GSTR 3B will get auto-populated by deriving information from GSTR-1 filed by you and your vendors. There are separate returns requir...

Saving via a retirement plan is a popular way to efficiently reduce taxes. Contributing money to a traditional IRA can minimize gross income up to $6,500. As of 2018, if meeting all qualifications, a filer under age 50 receives a reduction of $5,500 and a reduction of $6,500 if age 50 or older. For example, if a 52-year-old male with an annual income of $50,000 who made a $6,500 contribution to a traditional IRA has an adjusted gross income of $43,500, the $6,500 contribution would grow tax-deferred until retirement. There are several other retirement plans that an individual may use to help reduce tax liability. 401(k) plans are popular with larger companies that have many employees. Participants in the plan can defer income from their paycheck directly into the company’s 401(k) plan. The greatest difference is that the contribution limit dollar amount is much higher than that of an IRA. Using the same example as above, the 52-year-old could contribute up to $24,500. As of 2018, if u...

Aster Billing

VAT and GST are used inter-changeably as the latter denotescomprehensiveness of VAT by coverage of goods and services. France was thefirst country to implement VAT, in 1954. Presently, more than 160 countries haveimplemented GST / VAT in some form or the other. The most popular form ofVAT is where taxes paid on inputs are allowed to be adjusted in the liability at theoutput. The VAT or GST regime in practice varies from one country to another interms of its technical aspects like ‘definition of supply’, ‘extent of coverage ofgoods and services’, ‘treatment of exemptions and zero rating’ etc. However, at abroader level, it has one common principle, it is a destination based consumptiontax. From economic point of view, VAT is considered to be a superior system oversales tax of taxing consumption because the former is neutral in allocation ofresources as it taxes value addition. Besides, there are certain distinct advantagesof VAT. It is less cascading making the taxation system transpar...

Trademark registration is a type of intellectual property protection, under which a word or visual symbol used by a business to distinguish it goods or services from other similar goods or services originating from a different business can be protected. To register a trademark, a trademark application must be filed by the applicant with the relevant Trade Mark Registrar in the prescribed format. Once a trademark application is filed, the Trade Marks Registrar would process the application and issue an Examination Report. Among the outcomes, the Trademark Examination Report could allow for the trademark application to be advertised before registration or the Trademark Examiner could raise an objection for registration of the mark. In cases wherein the Trade Mark Registrar raises an objection for registration of a trademark, the applicant has an opportunity to submit a written reply for the objection raised. The reply to the Trademark Examination Report should contain reasons, fact...

10 Easy Steps to Improve Your Billing Process Right Now ASTER BILLING FOR A small business, billing can often be a nightmare. Even after the tedious process of sending out the invoices, there’s no guarantee of on-time payment.It’s a time-consuming cycle. However, it is an essential part of the business. That is why it’s important for small businesses to have an efficient invoicing system in place.Are you a business owner looking to get paid on time and worry more about your business than the bills?  Here are 10 easy steps for improving your billing process right now. 1. SET YOUR TERMSBefore you start working with a client, you should both agree on a set of terms. It’s the basis for good customer relations, it helps you avoid surprises, and increases your chances of getting paid on time.The terms should clearly state:whether you bill hourly or by the project;your fee and any additional fees;when the project is to be completed;the types of payments you accept;a timeframe in...

View: Why govt should reduce GST tax slabs to 4 per cent, 16 per cent & 24 per cent  Finance minister Arun Jaitley says there's scope to reduce slabs for Goods and Services Tax (GST). Reducing the tax slabs does make perfect sense. It would simplify the tax system: make it transparent, efficient and tax payer-friendly.  We currently have four slabs fixed for GST, a low rate of 5 per cent, two standard rates of 12 per cent and 18 per cent, and a high rate of 28 per cent. It would make sense to drop middling 12 per cent and 18 per cent rates and opt for 16 per cent  It would make sense to drop middling 12 per cent and 18 per cent rates and opt for 16 per cent as the standard rate to be levied on most items. It would also be desirable to reduce the peak rate.  Note that apart from the four-rate slab structure in the GST regime, we also have 0 per cent on certain items of mass consumption, 3 per cent on gold and jewellery, and additional cess on high-end consumpti...