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The basic responsibility of the Virtual CFO (Chief Finance Officer) [...]

The most important thing to start with ITR filing is getting the required documents together. Documents you would need would vary depending on the types of income you have.

Shops can do manual billing under GST and Net connectivity is needed only at the time of filing monthly return and can be managed from a cyber cafe.

As a relief to the taxpayers earning not more than Rs 5 lakh the maximum penalty will be Rs. 1000.

The technology should help you to seamlessly prevent, detect and correct the exceptions before the filing of return and reconcile your books with GSTN.

From taxation being imposed on the manufacture or sale of goods and provision of services under the present system, it will move to GST being levied on supply of goods and services.

There are about 80 lakh excise, service tax and VAT assessees as present, of which 64.35 lakh have already migrated to the portal of GST Network -- the company readying the IT backbone for GST regime.

Transactions fees in financial services are likely to become more expensive in the new GST regime as they will now be subjected to 18% tax.

Tax rates have been finalised for 1,211 items with a majority of items being kept under 18 per cent rates.

One must always record daily transactions on a real time [...]