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Input Tax Credit under GST – In a nutshell

One of the most striking changes that the GST rollout has brought is in the mechanism of availing Input Tax Credit. This change is on course to not only eliminate discrepancies but to also push more taxpayers into the tax net. Before understanding the changes done in the mechanism, let’s have an overview of Input Tax credit.  It is the credit a manufacturer receives for paying taxes on the inputs …Read More

Why technology-enabled businesses will lead?

Technology should no more be seen one-dimensionally and as something which is only accountable for the sustenance of a business. Perceiving it merely as a facilitator of daily chores like Accounting or Payroll Management is a mindset that businesses are getting rid of, and rightly so. They are establishing an effective coupling with groundbreaking technologies, to strive towards innovation and excellence. This is a welcome shift in perspectives and business …Read More

Protecting yourself from Ransomware

Ransomware has hit hundreds of thousands of businesses worldwide, especially small businesses, who had never expected to be impacted by such a serious virus threat. For people who are still figuring out Ransomware, it is a type of malware which encrypts the entire system and then the hacker asks for the payment in Bitcoins for decryption. Unfortunately, even if the payment is made, the chances of data recovery is less …Read More

Why GST requires serious planning?

With GST deadline just a few weeks away, significant structural changes are being scripted for India’s tax structure. Underestimating the gravity of such changes and taking GST just as another tax or a tax rate change can backfire in your business in a big way. The implementation of GST will require some serious homework, considering the paradigm shift in the way returns and tax computation will be affected. There are scores …Read More

Discrete v/s Process Manufacturing: Clearing the Fog

Discrete and Process Manufacturing are two different kinds of businesses within Manufacturing. Discrete Manufacturing is all about production of distinct items like computers, furniture, appliances, etc. These are very different from the products of Process Manufacturing which are homogeneous like glue, cosmetics, pharmaceuticals, oil, gas, etc. Products of Discrete Manufacturing can be taken apart as they are assembled by nuts, bolts, etc. This makes the operations of Discrete Manufacturers BOM …Read More