CountMagic

Gurugram, Nov 15 : Rashmi Khetrapal has been appointed an Independent Director of the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) for two years, an official said on Wednesday. “In pursuance of Section 149(10) of the Companies Act of 2013, Rashmi Khetrapal is appointed Independent Director on the Board of Director of HSIIDC, Panchkula, with immediate effect for two years,” Industries and Commerce Department Principal Secretary Sudhir Rajpal said in an official order. Rashmi Khetrapal is founder of CountMagic.com , a Goods and Services Tax billing software company aimed at making businesses simple in the new tax regime. She is a chartered accountant, apart from being an entrepreneur. This article has also been published in  Yahoo This article has also been published in  Suryaa , This article has also been published in  ThePeoplePost  This article has also been published in  DailyWorld  This article has a...

Since the demonetisation of high value currency in November last year, the government has been pushing for digital payments to move towards a less-cash economy as well as enhance tax base. The government is working on launching the second phase of promoting digital payments from January, according to an official source. "A committee under DAVP (Directorate of Advertising and Visual Publicity) is working on plans to start promotion of digital payments from January onward," an official source told PTI. "Information and Broadcasting ministry along with Meity (IT ministry) are involved in firming up this plan," he said. The logo and jingle are being prepared and the next meeting of the DAVP panel is expected to be held within a week to submit the plans, he said. "There is a proposal that every ministry should come up with its plan to promote digital payments," he added. Since the demonetisation of high value currency in November last year, the gov...

While the first quarter of demonetisation created initial disruption in the Indian economy, industry as well as consumers eventually witnessed the positive impact of demonetisation within the first year of its implementation. Some industry experts now claim that, this indeed, was a master stroke for the industry. According to them, though the growth slowed down for a quarter but eventually it proved be a boon to the economy. Sharing the success story of demonetisation for the commercial real estate industry, Puneet Chandra- Founder and CEO, Skootr said, “Demonetisation and efforts from the government to restrict black money and its digital policy has boosted the confidence of legitimate businesses. Economic stability and a consistent political environment are directly proportional to business sentiments in the country. I feel this has turned a lot of businesses internationally very positive about India; as a result, we see a lot of traction in the commercial real estate industry....

Digital push provides more training opportunities demonetisatio he consultancy sector is one area where demonetisation of high-value notes and implementation of the Goods and Services Tax (GST) seem to have had a positive effect. Consultancy firms have seen an increase in demand, say industry members. Sumit Peer, founder and CEO of Aurelius Corporate Solutions, a leading knowledge solutions integrator, said, “Our business has improved a lot, with more training opportunities on Enterprise Resource Planning (ERP) customisation and automation of homegrown Customer Relationship Management (CRM) solutions. We have seen good demand on programmes like SAP-GST from all segments of the market.” Rshmi Khetrapal , founder of Count Magic , a GST software company, said demonetisation and GST has helped create transparency and increase tax base and revenue. “A large number of shell companies have been identified. This has helped our business grow much faster. India was a largely cash-driven...

Today all the tax payers are taking lot of the time for reconciling the GSTR2 report with Purchase Invoice by checking one by using the offline utility software provided by the GST Portal, but here I am introducing the new utility created in the Microsoft Excel Format which will helps us to convert the Json File which is created by the GST Portal to Microsoft Excel Format and it will helps us to reconcile the data by using Vlookup formula in the less time and you can relax in the GSTR2 filing process. Step-1 Download the GSTR2A Report from the GST Portal Step-2 Download the Offline Utility software of the Json file convertor to Excel using the below link (It will work only above version of Microsoft Excel 2010 and above) Step-3 Convert the Json file to CSV Format by uploading the file to site https://json-csv.com/ Step-4  Convert this to CSV Format Step-5 Copy and Paste  the data in  the CSV File to the Excel Utility and pasting same using Paste ...

The third GST Council meeting since the implementation of Goods and Services Tax in India brought a spate of good news for exporters and small businesses, but also had something to offer to consumers as well, albeit less than what was widely expected. The GST Council, headed by Finance Minister Arun Jaitley, reviewed the rate of tax under GST on as many as 27 goods and services, mostly lowering the tax on these items of common use. However, the number of items discussed for a review of rates in Friday’s meeting in New Delhi was far lower than the 60 items under review, on which the government was expected to cut taxes. The council responded favourably to the the call by small businesses to lower the compliance burden by allowing them to file returns only once in a quarter instead of once every month as is required at present. Further, for exporters reeling under tight liquidity conditions due to tax refund claims aggregating to Rs 65,000 crore stuck with the government, the GST...

Since the passing of the GST Constitutional Bill by the Rajya Sabha in August last year, the country has been preparing itself for the new tax regime. The new GST law is India’s biggest tax reform initiative which is expected to improve compliance levels, increase government revenue, and create a common playing field for the businesses by amalgamating a host of central and local taxes. On the face of it, GST seems to be a mixed bag with some of the necessities becoming cheaper, while the others might get more expensive. While in the longer run the Goods and Service Tax might have a favorable effect on most of the sectors of the economy, in the short run, as with the most of the reforms, the benefits seem to be limited. Based on the experience of GST implementation in other countries, India could observe an inflationary impact at the onset of the reform, which might fade away once the legislation sinks in. Things that might get costlier: The present rate of service tax is 15 p...