Short answer: Issue a credit note when the value or tax on an earlier invoice has to come down. The usual cases are goods returned by the customer, an invoice showing more value or tax than correct...
GST mistakes rarely announce themselves. A missed registration, an ITC claim that does not match GSTR-2B or an unpaid reverse charge can sit quietly for months, then arrive as a notice with tax, 18%...
The break-even point is the level of sales at which your startup stops making a loss and starts making a profit. To calculate it, divide your fixed costs by the contribution you earn on each unit...
Accounting software is one of the cheapest ways a startup can avoid expensive mistakes. It records every transaction in one place, creates GST-ready invoices, matches your bank entries, and gives you...
Most startups do not fail because the idea is bad. They fail because the cash runs out before the revenue arrives. To manage startup finances well, track cash every week, know your burn and runway...
Good accounting in the first month saves you from a mess in the first year. If you separate your money, record every transaction, track tax dates and review your numbers monthly, you will always know...
If you are starting a business in India, GST affects almost every part of it: when you must register, what you charge your customers, how much tax credit you can claim, and even how your business...
Short answer: Getting a GSTIN is only the start. A Indian Startup founder must also invoice correctly, file returns on time, reconcile input tax credit (ITC) every month, handle exports and imported...
The GENESIS Scheme (Gen-Next Support for Innovative Startups) is a Government of India initiative launched by the Ministry of Electronics and IT (MeitY) to support technology startups, especially in...