If you’re a small business owner in India, GST compliance is non-negotiable. One missed due date, and you could end up paying a GST return late fee, interest, or both—cutting into your profits and increasing stress.
The best part? …
- By Fathima
- 20-03-2025
- 4 min read
Every business faces a delicate balancing act when it comes to inventory. Too little means disappointed customers and missed sales opportunities. Too much ties up valuable capital and warehouse space. Striking the right balance is the key to effective inventory …
- By Fathima
- 17-03-2025
- 4 min read
Every business that deals with goods movement—whether for sales, repairs, or stock transfers—needs proper documentation. While invoices are widely known, Delivery Challans are equally important for ensuring smooth and compliant transactions.
In this blog, we’ll break down what a delivery …
- By Saudamini Chandarana
- 13-03-2025
- 4 min read
India’s digital payment landscape has undergone a transformative journey, with the Unified Payments Interface (UPI) at the forefront of this revolution. Launched by the National Payments Corporation of India (NPCI) in April 2016, UPI has redefined how Indians transact, making …
- By Saudamini Chandarana
- 12-03-2025
- 5 min read
Goods and Services Tax (GST) compliance is crucial for businesses in India. While timely GST payments keep businesses compliant, any delay can result in penalties and interest charges. The tax department imposes late fees and interest when a business fails …
- By Fathima
- 06-03-2025
- 4 min read
Imagine standing at your bank, ready to open an account, but pausing at a crucial question: a savings account or a current account? This decision might seem trivial, but choosing the right account can greatly impact how you manage your …
- By Fathima
- 03-03-2025
- 3 min read
In business and personal finance, the terms “debtors” and “creditors” represent essential financial relationships that form the foundation of credit transactions. These concepts define the two sides of financial obligations in any credit arrangement—those who owe money and those who …
- By Saudamini Chandarana
- 28-02-2025
- 4 min read
Starting April 1, 2025, businesses that receive input service invoices for multiple branches must compulsorily register as an Input Service Distributor (ISD) and distribute Input Tax Credit (ITC) accordingly. The ISD mechanism ensures that ITC from shared services, such as …
- By Saudamini Chandarana
- 27-02-2025
- 5 min read
Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services across India. Introduced on July 1, 2017, GST replaced multiple indirect taxes such as VAT, service tax, and others, simplifying business tax …
- By Fathima
- 25-02-2025
- 4 min read
Imagine you’re running a retail store, and you’ve just received a shipment of electronics from your supplier. Upon inspection, you notice that several items are damaged. How do you formally communicate this issue and request a refund? This is where …
- By Ram Prasad Dutt
- 24-02-2025
- 5 min read
Indian bank names often come across as a puzzle of letters – SBI, HDFC, ICICI, PNB – but what do these abbreviations actually mean? Whether you’re opening a new account or simply trying to understand India’s banking sector, knowing the …
- By Ram Prasad Dutt
- 22-02-2025
- 8 min read
Welcome to the OPEN Glossary! Whether you’re new to financial services or just need a refresher, this guide is designed to help you navigate the world of OPEN with ease. Financial terms can often feel overwhelming, but this glossary breaks …
- By Ram Prasad Dutt
- 21-02-2025
- 2 min read
Managing financial paperwork doesn’t have to be complicated. Among the various documents you’ll handle, cash memos stand out as particularly useful tools for tracking your transactions. Let’s explore what makes these simple documents so valuable for both businesses and individuals.…