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Business Finance

How to make and send an awesome GST invoice

Everything you wanted to know about GST Invoice

Goods and Services Tax was conceived in the year 2017  with the intention of simplifying the taxation system in the country. In other words, it has subsumed the indirect taxes in the country. The indirect taxes like state VAT, service charge, etc is subsumed under GST. With the onset of GST, the taxation system has transformed from the source-based taxation system to the destination-based system.

The GST transaction validation happens by a GST invoice. It is a document on the basis of which the seller demands payment from the customer. Further, the types of GST invoice range from delivery challan, credit note, debit note, payment voucher, receipt voucher, bill of supply, etc.

GST Invoice
Create and send an awesome GST Invoice

In this blog, I will take you through the process of creation and sending of GST Invoice.

1. The minimum transaction limit for GST

It is mandatory for any business to issue an invoice if the transaction amount is greater than Rs. 200. If the transaction amount is less than Rs. 200 and the recipient is unregistered, it is not mandatory to issue an invoice. However, if the customer demands an invoice, the onus lies on the seller to provide the same.

2. Components of a GST Invoice form

  1. Customer’s name
  2. Shipping and Billing address
  3. Place of supply
  4. Customer’s and seller’s GSTIN
  5. Shipping and Billing address
  6. Invoice number and date
  7. Item description: Unit, Price
  8. GST split up: CGST and IGST or SGST or UTGST
  9. HSN Code

3. No: of copies of the invoice needed

(a) For Sevices: Original copy remains with the receiver and duplicate copy remains with the supplier.

(b) For Goods:  Original copy remains with the receiver and duplicate copy remains with the transporter. On the other hand, a triplicate copy remains with the supplier.

4. The time limit for issue of the invoice

(a) For General Services: Invoice issue within 30 days of supply of services

(b) For Services involving Banks and NBFCs: Invoice issue within 45 days of supply of services

(c) Normal Goods delivery: On or before the date of delivery

(d) Continuous Supply of Goods: On or before making payment

5. How to personalize the invoice?

The GST invoice is personalized using one’s company logo.

6. Types of GST invoices

(a) Delivery Challan: It is issued for transmitting goods from one place to another, irrespective of its sales.

(b) Credit note and Debit note: A credit note is issued when there is an increase in the original taxable amount while a debit note is issued when there is a decrease in the original taxable amount.

(c) Payment voucher: A payment voucher is issued by sellers when there is an advance payment for the goods or services involved.

(d) Receipt voucher: A receipt voucher is issued by sellers when there is a reverse charge applicable to the transaction.

(e) Bill of Supply: Bill of Supply is issued by sellers when GST is non-applicable on exempted goods, upon goods export or when the seller is covered under the composition scheme.

 

 

For more information, refer:

  1. https://cleartax.in/s/gst-invoice

 

 

 

For more blogs, visit https://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

Categories
Business Entrepreneur

Seven best business presentation tips that everyone should know

TIPS TO ELEVATE YOUR PRESENTATION SKILLS

There are a number of awesome tips to enhance your speaking skills with a business presentation that will take you to the heights of glory forever.

Confusing isn’t it? This is what happens when you are not precise and concise in your business presentation. The essence of any business presentation lies in putting the right words in the right place in the right way. Conveying the message in the right way is an art that cannot be mastered in a single day. It needs structured preparation and consistent practice.

Business Presentation
Business Presentation Tips

In the course of this blog, I shall walk you through some techniques to give an awesome business presentation.

1. Paraphrase content on the presentation

How does it feel like to be bombarded with voluminous information in one shot? Will you ever be able to recollect it? The human brain has limited attention and even limited recollection capability. The more content you present on the slides, the more cumbersome it becomes for the audience to grasp the information. Hence, it is imperative that you only highlight the bullet points on the slide. Elaborate more on the highlighted bullet points.

The way content is articulated holds more weight than the content itself. Make sure that you speak in a lucid, clear and concise manner. Do not beat around the bush. Speak and highlight only the major and appropriate points. It is a basic human tendency to speak more on a topic that is close to one’s heart. Practice hard in front of a mirror to identify and filter out the irrelevant content in your presentation.

2. Visual content

Do you recollect your childhood memory of reading comics? Have you ever wondered why we prefer comics over plain reading material? It is due to the illustrated visual content. Illustrated visual content is always a cynosure to every human eye. With visual content, the message sent out is more captivating and everlasting. Research suggests that the human brain has the ability to absorb and process visual content in an effective manner. Hence, make sure that you use ample visual content in your presentation. Keep the message visible, visible in the most attractive and direct manner.

3. Audience interaction during the presentation

Do you want your audience to take a power nap during your presentation? Or do you want them to admire your content throughout your presentation? If so, keep them active and energized. A thought-provoking question can do wonders. It will make them feel like an active part of the presentation. Also, short activities during the presentation will keep up the enthusiasm amongst the audience. For example, give an opportunity to a person in the audience to share his views and experiences on a topic.

4. Storytelling technique

The art of storytelling has been in vogue since the time immemorial. We all love grandma’s stories. But, have you ever wondered about the reason behind its efficacy? It never ceases to rekindle fond memories in all of us. The technique in which the story is narrated leaves a lasting impression. Similarly, the storytelling technique when adopted in business presentation breathes fresh air into the life of a presentation. Take the audience along a gripping description with smooth narration. Keep them yearning for more. Create suspense, add emotions and drama to make the emotions more lively.

5. Credible support materials

Building trust with your target audience is very important to send across the right message in an effective manner. There should be credibility in every word you speak and in every fact you put forth. Also, ensure that you do not use an exaggerated tone until and otherwise required. Cite the source of your information. In other words, give appropriate links to the audience to help them with further research on the topic.

6. Creativity in the content of the presentation

How does food taste without the spices? Bland, isn’t it? Similarly, creativity is the spice of the presentation. It makes the content more palatable. There are ample ways to bring in creativity. You could introduce startling statements between slides to keep up the audience’s interest and attention. You can pepper your presentation with quotes and humor. Also, you can narrate personal incidents to make the delivery more lively.

7. Summary slide in the presentation

A quick recap is essential to effectively wind up your presentation. It acts as a call back to the audience. They will recollect the major points and take home a concrete message. Preferably, summarise the major points in concrete, lucid, simple and concise fashion. Also, a summarised conclusion in commensuration with the beginning gives a well-built structure to the presentation. It keeps the audience hooked, they will seamlessly connect between different transitioning ideas.

For more blogs, visit https://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

 

Categories
Business climate change startup Uncategorized

How businesses can combat climate change?

Small steps can make a large difference

What is the first thing that comes to your mind when you think about climate change? Amazon burning, India flooding, Antarctic melting, climate change brings in front of our eyes vivid pictures of the destruction.

Climate change refers to the natural or human-induced changes in the earth’s weather patterns. It is a result of factors like incessant use of fossil fuels, deforestation, the release of greenhouse gases, etc. Further, natural causes like varied solar radiation, variation in the earth’s orbit and rotational axis also contribute to climate change.

Climate change and Business
Simple steps by businesses to combat climate change

It is better to act before it is too late. We, as a business group can take significant steps to effectively combat climate change. In the course of this blog, I shall walk you through some simple steps through which businesses can combat climate change.

1. Use of cloud to combat climate change

Businesses can cut down on unnecessary hardware setup by working on the cloud. It is centralized, safe and secure. Further, it brings in the convenient transfer of information amongst the employees. Overall, it will reduce the number of trees being cut down, thereby reducing deforestation.

2. Transportation for employees

Reports suggest that air pollution due to personal vehicle use is set to increase by over 60% in the coming decades. Large businesses can ensure that the employees are provided a transportation medium like office bus or van. This would cut down immensely on carbon dioxide emissions.

3. Efficient lighting to combat climate change

Simple steps in your office like replacing all light bulbs with CFL lights would work wonders. Incandescent bulbs generate a large amount of heat resulting in the cooling system to work harder, thereby generating greenhouse gases. On an average, CFLs consume 70% less power as compared to incandescent bulbs. Also, this would avoid the harmful effect of disposing mercury present in the incandescent bulb. 

4. Waste segregation at source

Businesses can create a culture of proper waste segregation at source. Segregation of waste into wet, dry and chemical categories brings in a focused approach to waste management. This encourages a culture of recycling and reuse as well.

5. Use of renewable sources of energy to combat climate change

It is encouraging to see that businesses have adopted renewable sources of energy like solar, wind energy, etc to power their business. For example, Intel has over18 on-site solar plants with an installed solar capacity of approximately 7,000 kW.

6. Investment in green initiatives to combat climate change

Some businesses adopt passive measures by investing in green initiatives. It takes the form of investments in initiatives like recycling, biofuel production, tree plantation drive, etc.

7. Encourage recycling

Businesses could introduce centralized recycling bins to encourage employees to discard recyclable items light bulbs, batteries, aluminum cans & bottles and magazines are some items which could be easily recycled.

8. Measures at an individual level to combat climate change

Small measures by employees like switching off the light, turning off the tap, using paper cups instead of plastic cups and digitization of documents produce significant effects on the health of the earth in the long run.

9. Regular awareness campaigns

Monthly awareness and sensitization campaigns work wonders in the long run. It brings in a sense of business responsibility cum accountability to combat climate change.

For more blogs, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

 

 

Categories
Business Digital marketing Entrepreneur inspiration startup Uncategorized

7 tips to work from home with efficiency

Productivity with flexibility

The present-day workplace is becoming more and more flexible. Employees are preferring the work from home mode to maintain a proper personal-professional life balance. Interestingly, work from home comes with advantages ranging from a flexible schedule, reduced commutation costs as well as spending some quality time with your loved ones. On the other hand, work from home comes with its own set of challenges like an increased distraction or reduced productivity.

Work from home
Some tips to work from home with efficiency

But, don’t worry, in the course of this blog, I will walk you through seven tips to boost your work productivity while working from home.

1. Cloud storage for work efficiency

It is good to store all the important office documents on the cloud server. By doing so, you can log in from any device and complete your task. In this way, you can avoid the overdependence on office workstation. Work anytime, anywhere, without compromising on your data.

2. Official attire

Have you felt sleepy in your pajamas while working from home? Were you lazy to change? Dressing makes a lot of difference in one’s attitude and work. The better dressed you are, the more confident and attentive you are.

Hence, when you are working from home, try to be dressed in the formal, official outfit. It will give you a real office feel. Also, this makes you work with more seriousness.

3. Work – Friendship management

When you work from home, there is a chance of some friend dropping by to meet you. How can you avoid such unexpected run-ins and meetup? One can come out with a definite schedule to meet one’s friend. Make meetup plans for the weekend. Talk it out with your friend and make a mutually agreed schedule.

4. Regular office communication

There are chances of getting distracted when you are working from home. Hence, make sure that you are in regular touch with your colleagues. Connect to them via hangout, WhatsApp or email to get work updates. This will give you an office environment and keep you on your toes.

5. Customized work area

Do you have a dedicated area to work at your home? Having a separate room as your work area is essential to have maximum productivity. Even if it is not a proper work setup, a solitary room is required to keep up your focus.

6. Minimize social media usage

Social media is a necessary evil in the present-day world. Imagine doing your company job via Facebook and Whatsapp. In addition, social media has brought the world closer. But, it can become a nuisance when you work from home. Unending chats on Facebook or Whatsapp leads to a reply chain running over hours.

Now, you might ask, what if I am the social media handler of my company? The answer is simple. Turn off your message notifications. Only respond to company page updates on your social media. Train your mind to respond to personal social media stuff at a definite time of the day. Eventually, you will see the productivity gains from this exercise.

7. Calendar Maintenance

Planning is the first step towards completing your task with efficiency and effectiveness. Excel sheet is a simple way to create focussed plans with flexible updation features. Also, google calendar provides customized calendars for different business settings.

Make use of either of the above application while working from home. Plan meticulously and scrutinize your plan every week for optimum results.

For more blogs, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in