Yearly Archives: 2017

Drug companies fear double tax on old stocks

Drug companies fear double tax on old stocks

Many drug makers are worried that they may end up paying goods and services tax (GST) on medicines on which they have already paid earlier taxes like excise and sales tax. Under the current law, pharmaceutical companies that have stock lying with them that is older than 12 months are not entitled to a set off against GST liability. This…

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GST’s real gain is efficiency and sustainability

GST’s real gain is efficiency and sustainability

The implementation of the Goods and Services Tax (GST), considered to be the most important policy change in India since economic liberalisation, has the potential to bring about large-scale economic impact. The initial commentary on the GST has revolved around benefits in terms of uniformity of tax structure, removal of cascading effect, efficient tax administration and improvement in government finances.…

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Accounting Software & Business Growth

Accounting Software & Business Growth

There is nothing worse than a business that doesn’t have a strong grip on its financial situation. A good business accounting ERP software is programmed in such way that it would enable you to manage your businesses financial transactions. With ERP and accounting software it is easier to stay organized, ensuring that you know where you stand at all times…

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Blockchain: An opportunity for accountants? Or a threat?

Blockchain: An opportunity for accountants? Or a threat?

The emergence of blockchain technology has led to a concern in the CPA profession that is perfectly understandable. Technological advances can threaten people’s livelihoods in any number of professions. The development of the internet had a devastating effect on newspaper journalists, and some experts say self-driving vehicles may cause huge job losses among truck drivers. Blockchain, meanwhile, has implications for…

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GST and Rural Economy

GST and Rural Economy

Most of the awareness programs on GST by our Government held in urban areas. However, the traders of rural areas are still unaware about benefits of proper accounting and taxation. Most of the rural traders are still not using any type of accounting software for their business. Our government has now started many initiative programs to educate the traders on…

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