Knowledge2Health

Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. The GST was introduced in India in 2017 to replace multiple indirect taxes such as VAT, Service Tax, Central Excise Duty, and others. GST is a consumption-based tax, which means that it is levied on the value added at each stage of production and distribution, from the manufacturer to the end customer. The GST has simplified the indirect tax system in India by removing the cascading effect of taxes. The cascading effect refers to the tax on tax, where the same tax is paid multiple times on the same product or service. The GST has eliminated this by allowing businesses to claim input tax credit (ITC) on the taxes paid on their purchases. This has made the taxation system more transparent and efficient. Why is GST necessary for every business? Compliance: GST has made compliance easier for businesses by introducing a single tax system. Earlier, businesses had...

Starting a business can be a daunting task, but it can also be incredibly rewarding. With careful planning and execution, you can turn your entrepreneurial dreams into a successful reality. In this blog, we will outline the steps you need to take to start your own business. Step 1: Identify Your Business Idea The first step to starting a business is to identify a product or service that you are passionate about and that fills a need in the market. Conduct market research to determine if there is demand for your product or service, and to identify your target audience. This will help you to refine your idea and ensure that it has the potential to be profitable. Step 2: Create a Business Plan Once you have identified your business idea, the next step is to create a business plan. Your business plan should include details about your target market, competition, pricing, marketing strategies, and financial projections. This will serve as a roadmap for your business, and will help you to...

Larsen & Toubro (L&T) is a name that has become synonymous with engineering, construction, and technology in India. Founded in 1938 by two Danish engineers, Henning Holck-Larsen and Søren Kristian Toubro, L&T has grown to become a multinational conglomerate with a presence in over 30 countries. In this blog, we will take a closer look at the journey of L&T, the challenges it faced, where it stands today, and how young entrepreneurs can learn from its experiences. Establishment and Early Years Holck-Larsen and Toubro met while working for the Tata Group and decided to start their own company. They secured a loan of Rs. 50,000 from the Industrial Finance Corporation and set up Larsen & Toubro in Bombay (now Mumbai). The company initially focused on electrical and mechanical engineering, and its first major project was the construction of a dairy plant in Bombay. Over the next few years, L&T secured several government contracts for construction and engineering proj...