We wanted to give our readers something informative yet different and thought what better way for that than with a quick recap of the major events from 2016 to early 2017 from across the globe, India and us at KredX. 2016 has been quite a rollercoaster ride for the world and us in India. From terrifying events to groundbreaking changes and new opportunities, it certainly was a mixed bag of emotions. Let’s take a look back at some of the most impactful stories from the last year and early 2017.
It’s common knowledge that businesses face cash crunches and issues with capital from time to time. With money issues comes a myriad of other issues that may lead to defaulting of loans and economic offences. Such issues can come knocking on your door anytime, whether you are a seasoned businessman or a first time entrepreneur. And nobody wants to find themselves tagged as a “big time” economic offender. So what can you do to ensure that you don’t find yourself in such a situation?
Post GST into effect, SMBs in India will not use multiple points and application software for accounting, but rather upload invoices on the GST Network (GSTN). GST will completely restructure the way India does business. As the name suggests, GSTN is a network for Indian Businesses to upload their invoices for Tax processing and availing tax benefit.
In a decisive battle against black money, Narendra Modi government yesterday announced the invalidity of the legal tender of Rs.500 & Rs.1000 preceded by the release of Rs.2000 currency notes. This ruling will have far-reaching consequences on the Indian economy in both short and medium term.