New product features, statutory payroll updates, modern leadership playbooks, and workforce intelligence.
Section 17(5) of the CGST Act blocks input tax credit on passenger vehicles, construction of buildings, many employee benefits and personal consumption, with specific exceptions. What is blocked, what can still be claimed, and examples.
Interest on late GST payment is 18% a year, calculated on the tax paid in cash, not the full liability. Interest also applies on input tax credit wrongly claimed and used. Examples, how GSTR-3B shows it, and the difference from late fees.
Under CBIC Circular 140/10/2020, salary paid to directors who are employees is outside GST, while sitting fees, commission and other amounts paid to directors are taxed at 18% under reverse charge, paid by the company. How to classify, pay and report.
How to record GST in your books: separate CGST, SGST and IGST input and output ledgers, entries for sales, purchases, reverse charge and returns, and the monthly set-off entry that matches GSTR-3B.
An e-invoice can be cancelled on the Invoice Registration Portal only within 24 hours of generating the IRN, and only in full. After that, use a credit note or amend the details in GSTR-1. Common mistakes, the right correction for each, and why the invoice number cannot be reused.
A five-day month-end close for Indian small businesses: cut-offs, bank and UPI reconciliation, GST and TDS, receivables and payables, stock, accruals and a one-page report. With a day-by-day plan.
Profitable businesses run out of cash when receipts lag and payments bunch up. How to build a 13-week cash flow forecast, which Indian statutory payments to include, an example around the festive season, and how to update it weekly.
A practical collections process for Indian businesses: clear credit terms, a reminder schedule from day one, escalation steps, interest on late payment, MSME protections, and when to use legal notice. With templates and an ageing review.
Stock must be valued at the lower of cost and net realisable value, using FIFO or weighted average. How to value closing stock, handle slow-moving and damaged items, and reverse GST credit on goods lost, destroyed or written off.
A step-by-step plan to move from desktop accounting software such as Tally to a cloud accounting and billing system mid-year: the cut-over date, opening balances, masters, open invoices, GST continuity, and a parallel run.
A cash credit limit is only as useful as your drawing power, which banks work out each month from your stock and receivables statement. How drawing power is calculated, why debtors over 90 days drop out, how to reconcile with GST data, and common mistakes.
Micro and small enterprises registered on Udyam can claim payment within 45 days and compound interest at three times the RBI bank rate on delays. Since 15 October 2025, new delayed-payment cases are filed on the MSME ODR portal. Who can file, how, and what to prepare.
