How to Prepare Financial Statements for Year-End Closing
Preparing financial statements for year-end closing is not just an accounting task—it’s a financial health check for your business.
Read continuallyFlexibility refers to the ability to adjust and modify
one's approach, behaviour, or plans in response
changing circumstances or demands
Market analysis involves examining characteristics dynamics, and trends of a specific market. It helps determine the viability of a product
Customer support teams also interact customers but they are part of the larger customer service department to answer product-related
Mandatory for businesses with turnover exceeding the threshold limit (?40 lakhs for goods, ?20 lakhs for services; lower in some states).
Required for e-commerce sellers, interstate suppliers, and businesses seeking input tax credit.
Registration assigns a unique Goods and Services Tax Identification Number (GSTIN).
Enables businesses to collect GST legally and pass on input tax credit to customers.
Applicable to proprietorships, partnerships, LLPs, companies, and other entities.
Separate registration required for each state from which taxable supply is made.
Special category registrations include Composition Scheme, Casual Taxable Person, and Non-Resident Taxable Person.
Post-registration compliance includes filing of regular GST returns (GSTR-1, GSTR-3B, etc.) and maintaining GST-compliant invoices.
Helps establish business credibility with customers, vendors, and government authorities.
Registration process is online and typically completed within 5–7 working days, subject to verification.
Avoids penalties and ensures legal eligibility to operate and expand within the GST framework.
With skilled professionals backing us, we ensure you get accurate, honest, intuitive tax and financial results you can trust us.
Our in-house, tailored method ensures seamless support at each phase of your financial lifecycle with tax planning, compliance, and advisory.
We are always transparent, responsive, and relationship-oriented, bringing solutions that generate genuine results.
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Contact usAny business with aggregate turnover exceeding ?40 Lakhs (goods), ?20 Lakhs (services), or engaged in inter-state, e-commerce, or specific categories.
Typically 3–7 working days, provided all documents are in order.
Yes, if turnover exceeds the threshold or if providing inter-state services.
Yes. Even if not mandatory, voluntary GST registration is permitted.
GSTIN is the unique 15-digit Goods and Services Tax Identification Number assigned upon successful registration.
Yes. GST registration is compulsory for e-commerce sellers, regardless of turnover.
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