Category: Finance and Accounting
-
How to Calculate GST in Excel Automatically: Step-by-Step Guide with Formulas and Examples
Since the implementation of GST (Goods and Services Tax) in India on 1st July 2017, businesses have been required to calculate, collect, and report GST accurately for every transaction. While advanced accounting software handles this automatically, thousands of small businesses, accountants, and MIS professionals still rely on Microsoft Excel for daily billing, tax calculation, and…
-
Top 5 Excel Templates for GST Return Filing : Simplify Your Tax Compliance with Smart Excel Tools
The Power of Excel in GST Return Filing For millions of Indian businesses, GST (Goods and Services Tax) compliance is a monthly and quarterly ritual. Whether it’s filing GSTR-1, GSTR-3B, or reconciling purchases with GSTR-2A, maintaining accuracy and timeliness is crucial. However, manual data entry and portal-based preparation can be time-consuming and prone to errors.…
-
Step-by-Step Guide: How to File GSTR-1 in Tally Prime Accurately and Easily (Complete Tutorial)
Filing GSTR-1 is one of the most important responsibilities for every GST-registered business in India. It is a monthly or quarterly return that contains all the details of outward supplies (sales) made during the period. Tally Prime, one of India’s most trusted accounting software, simplifies this process by automating data compilation and helping users file…
-
GST Return Filing Basics for Beginners – Step-by-Step Guide, Types of Returns, and Common Mistakes to Avoid
The Goods and Services Tax (GST) system has revolutionized India’s indirect tax structure since its launch in July 2017, merging multiple taxes like VAT, Excise, and Service Tax into one unified framework. Every business registered under GST must file GST returns to report their sales, purchases, and tax liabilities to the government. According to the…
-
How to Check HSN and GST Rate Wise Stock Items in Tally Prime: Step-by-Step Guide with Report Analysis and Practical Examples
For every GST-registered business in India, accurate reporting of HSN (Harmonized System of Nomenclature) codes and GST rates for stock items is essential for compliance and audit readiness. Tally Prime makes this process simple through in-built reporting tools that allow users to analyze inventory according to HSN codes and applicable GST rates. In this comprehensive…
-
Why Income Tax Refunds in India Have Dropped 16% — Causes, Risks, and What You Can Do
In recent months, many taxpayers in India have been surprised: income tax refunds that once felt reliably timed and generous are shrinking. According to reports, refunds have fallen by about 16 percent compared to last year. That kind of decline prompts serious questions: Is your return delayed? Is your refund being reduced? What factors are…
-
Why the New PF Rule Will Hurt Your Retirement: How Changes in EPF Withdrawal Will Impact Compounding and Long-Term Savings
In recent rule updates for the Employees’ Provident Fund (EPF), a significant policy shift is causing alarm among financial experts and retirees. The changes make it easier to withdraw your PF corpus after just 12 months of unemployment—but advisors warn that tapping your savings early will severely erode the power of compounding, ultimately weakening retirement…
-
10 Smart Hacks to Maximize Rewards When Paying Insurance Premiums in India (Earn Up to ₹5,800 or More
Paying insurance premiums—be it life, health, motor, or property—is a non-avoidable expense for many households. But what if you could turn that mandatory spend into a reward-earning opportunity? Many Indians are missing out on extra cashback, reward points or savings worth ₹5,000–₹6,000 or more annually by not optimizing how they pay their insurance premiums. In…
-
Recent Changes in GST Compliance 2025: Relief for Small Businesses on GSTR-9 and GSTR-9C Filing
The Goods and Services Tax (GST) compliance framework in India continues to evolve, providing significant relief to small and medium businesses. Recently, the GST Department announced key changes affecting annual GST returns (GSTR-9) and reconciliation statements (GSTR-9C). These changes are aimed at reducing the compliance burden for small taxpayers, making the system more business-friendly while…
-
GST Filing 2025: Complete Guide for GSTR-1 & GSTR-3B Corrections and Deadlines for Financial Year 2024-2025
As the GST filing deadline for the July-September 2025 quarter approaches, businesses must ensure their GSTR-1 and GSTR-3B returns are accurate. This period represents the final opportunity to correct errors from the financial year 2024-2025, particularly for quarterly filers. Filing errors or mismatched entries can lead to complications in annual returns, such as GSTR-9 and…
-
Government Shutdown 2025: Impact on Student Loans, FAFSA, and the U.S. Education Department
When the United States experiences a government shutdown, the effects extend far beyond Washington, D.C. For students, parents, and educational institutions, one of the most pressing concerns is how the shutdown impacts federal financial aid, student loans, and the Department of Education. With the 2025 shutdown dominating headlines, it is crucial to understand what this…
-
Still Waiting for Your Income Tax Refund? Here’s How to Check ITR Status Online
Filing income tax returns (ITR) is a crucial annual task for every taxpayer. But once you have filed your return, the next important step is to track whether your income tax refund has been processed or not. Many taxpayers often face anxiety while waiting for their refunds, especially when there are delays. If you are…