Globally, the shift to renewables is happening at a fast pace. The primary sources of renewable energy being utilized include solar energy, wind energy, hydropower, geothermal energy, tidal energy and biomass energy. The shift to renewable energy is happening primarily due to the concerns about climate change and global warming. The other reason is that non-renewable sources such as oil and gas reserves are limited and will not last forever. To avoid a potential global climate catastrophe, use of fossil fuels is being minimized.

While the switch to renewable energy sources is inevitable, it makes us wonder how the oil industry and oil producing nations will manage this change. What will happen to the large workforce that is currently deployed in the oil industry? How will oil-producing nations deal with the threat of losing their primary source of income? How will the citizens of these countries be impacted, who currently have one of the highest per capita incomes in the world? To answer such questions, let us take a look at how the shift to renewable energy sources such as solar energy and wind energy will impact the oil industry and oil producing countries.

Gradual shift, not instant

While renewable energy sources are being harnessed at an industrial scale, it will still be several decades before oil is completely removed from the ecosystem. As per estimates provided by the International Energy Agency (IEA), oil demand is expected to reach its peak by 2025. Beyond that, there will be a steady decline in demand for oil.

However, oil will continue to be used by various industries. For example, sectors like aviation and shipping will take much longer to shift to renewable energy sources. Oil and gas will continue to be used in power plants and even for generating green fuels such as hydrogen. In comparison, the auto industry is expected to switch to electric much faster.

Economic diversification

Oil-rich countries such as Saudi Arabia, Iraq, United Arab Emirates, Iran, Kuwait, Qatar, etc. have stepped up focus on diversifying their economy. This is the only way for these countries to survive the switch to renewable energy sources. For example, Saudi Arabia is making big investments in solar and wind energy. It is also focusing on sectors such as tourism, banking and finance, pilgrimage, global supply chain and logistics and healthcare.

Economic diversification will help absorb the negative impact of the shift to renewable energy sources. People employed by the oil industry can be reskilled and shifted to other sectors. Assets and resources of the oil industry can be repurposed for various industries including renewable energy such as solar and wind energy. As the shift will be gradual, oil-producing nations have ample time to diversify their economies.

Shift in geopolitical landscape

Traditionally, oil-producing countries have enjoyed tremendous clout in the global political landscape. With the shift to renewable energy, oil-producing nations will see a reduction in their global influence. This will create a balance of power among nations. It is not necessarily something that is a negative development for oil-producing nations. As a matter of fact, the change in geopolitical landscape will prompt oil-producing nations to innovate and compete more aggressively, instead of being completely dependent on oil money.

Impact on oil industry workers

As the shift to renewables will be gradual, the oil industry will continue to function for several decades. However, since production is expected to decline gradually, some job losses will be unavoidable. It will be great if oil companies and governments can work together to launch special programs to protect the interests of people employed in the oil industry. As mentioned earlier, reskilling can be a great way to help oil industry workers impacted by the shift to renewable energy sources.

Focus on newer technologies

Fossil fuels are blamed primarily due to their high carbon footprint. However, things can change in the future with new technologies. For example, improved methods of carbon capture can reduce the pollution emitted via the burning of fossil fuels. Similarly, more efficient internal combustion engines can be developed to produce electricity or other green fuels.

Government policy and regulations

The overall impact on the oil industry and economy will depend on how prepared the respective governments are in dealing with the shift to renewable energy sources. With proactive policies and regulations, oil-producing nations can achieve a smooth transition.

Is it safe to invest in green energy stocks?

With the shift to renewable energy sources, one may consider investing in green energy stocks. However, it is important to choose the right stocks that have potential for growth. Some reliable green energy stock options one can consider include Adani Green Energy, Reliance New Energy, JSW Energy, KP Energy, Zodiac Energy, Websol Energy System, Borosil Renewables, NTPC, BF Utilities and Inox Wind Energy. It is important to do your own research and invest as per your risk appetite. For max gains, you may have to choose long-term investments in green energy stocks.

The post What will happen to oil-based economy countries as world shifts to solar, wind and electric? appeared first on Startagist.

When a start-up founder or a business owner initially starts their business, they are accountable for doing several activities from long working hours to juggling between numerous tasks. They are typically considered a one-man army.

With careful planning and execution, startups have the potential to succeed and make a significant impact on the economy.

How to plan & run your Start-up?

Start small and grow gradually. Don’t try to do too much too soon. Start with a small product or service that you can deliver well, and then grow your business gradually as you gain traction.

Focus on your customers. Put the needs of your customers first and always be looking for ways to improve your product or service.

Be flexible and adaptable. Things don’t always go according to plan in the startup world. Be prepared to adapt your business model and strategies as needed.

Legal and Regulatory Compliance. Entrepreneurs must comply with a wide range of legal and regulatory requirements, including tax laws, labour laws, and environmental regulations. Failure to comply with these requirements can result in penalties, fines, and legal action against them.

Build a strong support network. Surround yourself with people who believe in you and your business. This could include family, friends, colleagues, or mentors.

Stay positive. No matter what challenges you face, stay positive and focused on your goals. Believe in yourself and your ability to succeed.

Don’t give up. Starting a startup is hard work, but it’s also incredibly rewarding. Don’t give up on your dream, even when things get tough.

Difficulties of Start-ups

Lack of supportive network. Though Indian entrepreneurs often have a strong network of family, friends, and colleagues but rarely get support from them in their entrepreneurial journey. This is due to the fact that there is a stigma attached to entrepreneurship in India, and many people believe that it is a risky and uncertain career path. Hence Indian entrepreneurs lack the emotional and financial support they need to succeed.

Lack of funding. Indian entrepreneurs often have limited financial resources. This can make it difficult to start and grow a business, and it can also lead to stress and anxiety. Startups in India often have difficulty raising capital, especially from traditional sources like banks. This is due to a number of factors, including the high risk associated with investing in startups, the lack of understanding of startups among banks and other financial institutions, and the regulatory hurdles involved in raising capital.

Lack of talent. India has a large pool of skilled workers, but it can be difficult for start-ups to find the right talent, especially in technical areas. This is due to the fact that many of the best and brightest engineers and other technical professionals are attracted to large, established companies that offer more stability and higher salaries.

Lack of access to information. Indian entrepreneurs often lack access to the information and resources they need to succeed. This is due to the fact that there is a lack of entrepreneurship support infrastructure in India, and it can be difficult for entrepreneurs to find the information and resources they need to get started.

Cultural barriers. Indian entrepreneurs often face cultural barriers that can make it difficult to start and grow a business. For example, Indian culture is often seen as being risk-averse, and this can make it difficult for entrepreneurs to take the risks that are necessary to succeed.

Competition. The Indian startup ecosystem is growing rapidly, and the competition is fierce. This can make it difficult for start-ups to stand out from the crowd and attract customers.

Regulation. The Indian government has a complex regulatory environment that can be a challenge for startups to navigate. This is especially true for start-ups that are working in industries that are heavily regulated, such as financial services and healthcare.

Some of the challenges in client management

Limited resources. Small startups often have limited resources to devote to client management. This can make it difficult to properly track and manage client relationships and to provide the level of service that clients expect.

Lack of experience. The majority of startups may not have the experience in-house to effectively manage clients. This can make it difficult to identify and meet client needs, and resolve issues.

Time constraints. Startups often have tight deadlines and limited time to devote to client management. This can make it difficult to stay on top of client relationships and to provide the level of service that clients expect.

Communication challenges. Startups may have difficulty communicating with clients. This can lead to misunderstandings and delays.

Client expectations. Startups often have to deal with high expectations from clients. This can be challenging for startups that are still trying to establish themselves and build their reputation.

Client churn. Startups are more likely to experience client churn than larger companies. This is because they may not have the resources to provide the level of service that clients expect.

Tips for Startups to overcome the challenges of client management:

Prioritize client management. Small startups need to make client management a priority. This means setting aside time and resources to properly track and manage client relationships and to provide the level of service that clients expect.

Outsource client management tasks. If startups do not have the resources or expertise to manage clients in-house, they can outsource these tasks to a third-party client management firm.

Use technology. There are a number of technology solutions available to help startups manage clients. These solutions can help to automate tasks, track client relationships, and provide insights into client behavior.

Build strong relationships with clients. Startups need to build strong relationships with their clients. This means communicating regularly with clients, understanding their needs, and working together to resolve issues.

Manage client expectations. Startups need to be realistic about their ability to meet client expectations. They should set clear expectations with clients and communicate regularly about progress.

Retain clients. Startups need to focus on retaining clients. This means providing excellent service and going the extra mile to meet client needs.

Despite these challenges, there are also a number of social and psychological factors that can help Indian entrepreneurs succeed. These include:

A strong work ethic. Indian entrepreneurs are known for their hard work and dedication. This is a key factor that has helped many Indian entrepreneurs succeed.

A positive attitude. Indian entrepreneurs are typically optimistic and have a strong belief in their ability to succeed. This positive attitude is essential for entrepreneurs, as it helps them to overcome challenges and setbacks.

A sense of purpose. Many Indian entrepreneurs are driven by a sense of purpose. They are passionate about their businesses and believe that they are making a difference in the world. This sense of purpose can help entrepreneurs stay motivated and focused on their goals.

However, entrepreneurs can overcome any challenge by nurturing the qualities like resilience, perseverance, patience, and taking action with hard work, dedication, and a positive attitude.

The post Entrepreneurship & Indian Startup Ecosystem- A brief study appeared first on Startagist.

The government has made a collection of whooping 10.12 Lakh Crores in the FY 2020-21 amidst the pandemic situation in India.

However, there has also been many fraudulent cases reported for incorrect claiming of Input Tax Credit under GST, fake invoices and many more. The primary thing to look at here is that many professional are indulged in these tax scams ranging from Chartered Accountants to lawyers to even tax advisors.

It has become necessary to verify the person you are getting in business with.

GST number online verification is the most primary task that the taxpayer should do to identify a genuine taxpayer and a fraudulent or dummy supplier.

In this short article, we will be discussing some steps you can take to verify the genuineness of your suppliers.

Verify GST supplier by details on tax-invoice

The preliminary investigation that any responsible taxpayer should consider is to verify the GST details mentioned by the supplier on the tax invoice.

If the tax invoice from your supplier misses any of the following mandatory fields, then it should be an alarming sign for you that the tax invoice is fake:

• Name, address and GSTIN of the supplier;
• Tax Invoice number;
• Date of issue;
• Name, address of the business and GSTIN of the recipient;
• Shipping & billing address;
• Place of supply;
• HSN code or SAC code;
• Items details like-
  • Description of goods & services
  • Quantity of the goods sold
  • Standard unit of measure (Kg, tons, litre)
  • The aggregate value of supplied goods or services

• The taxable value of the supply of goods/ services;
• Tax rates & tax amounts properly segregated (CGST, SGST, IGST or CESS);
• Signature of the supplier.

Every recipient should check these details as the first step of the preliminary investigation in the best of his interests.

If discrepancies are found in the details, you should immediately contact the supplier and ask for an explanation. If it’s a genuine mistake, insist he rectifies it as soon as possible.

But, if the supplier tries to hide things and give you vague answers, then it is better to blacklist that supplier from further transactions.

If everything on the invoice looks well & good, you should proceed with some other checks as discussed below.

GST Verification online via GSTN

GSTIN of the supplier should be verified online via the GSTN network.

Following are some of the essential details about GSTIN and the process to verify your supplier’s GSTN.

• GSTIN is the acronym for ‘Goods and Services Tax Identification Number.’
• GSTIN is the 15 digits alphanumeric number issued at the time of GST registration to every taxpayer.
• The format of the GSTIN number is explained below:

To understand the meaning of each value, see the given table below:

If any discrepancy is found in the GSTIN number should raise the flag that this supplier is not a genuine one, and you should immediately stop all the transactions with that supplier.

Tax experts advise the taxpayers to use the automated GST filing software so that the defaulting suppliers can automatically be notified.

This helps you in claiming 100% Input Tax Credit under GST.

GST verification online via GST portal

There are two ways to verify your supplier on the GST portal:

1. Using GSTIN or UIN of the concerned supplier

Step 1: Log on to the GST Portal, and navigate to Home >> Search Taxpayer >> Search by GSTIN/UIN.

Provide the GSTIN of the supplier in the highlighted box.

You’ll get the results as follows after hitting ‘Search.’

2. With PAN details of the supplier

If a supplier is new to the GST structure, it is possible that he may not have received the GSTIN or UIN yet.

In this case, the GST portal allows you to check the credibility of your supplier using his PAN card details on the GST portal.

Step 1:  Visit the GST portal i.e. https://www.gst.gov.in/. >> Search Taxpayer >> Search by PAN

With this facility, you can access the supplier details corresponding to the PAN card details provided.

To Summarize

This article has provided you with some primitive measures that you can take to identify genuine suppliers and fake suppliers.

Suppose you are using any GST filing software like GSTHero. In that case, you will have no worries regarding the GST compliances or getting into any fraudulent transactions with a sketchy supplier.

However, at a primitive stage, every taxpayer must follow the steps mentioned in this article so that you can prevent the mishap way before it occurs.

Getting into a fraudulent transaction can have profound tax implications leading to civil proceedings and even cancellation of your GST registration.

So it is always good to be cautious and alert about the compliances and changing rule of the GST.

Stay updated; stay ahead.

The post GST Number Verification Online | Steps To Identify Genuine & Fraudulent Suppliers appeared first on Startagist.

GSTR-3B should be submitted by all those businesses liable to file the monthly returns of GSTR-1 or GSTR-3.

Taxpayers can easily file their GSTR-3B online through the GSTN portal.

This short article will discuss the GSTR-3B filing due dates and discuss some of the most common errors that taxpayers make while filing their GSTR-3B return.

GSTR-3B due dates

Common mistakes while GSTR-3B filing

Rectification of GSTR-3B is not possible under GST.

Hence, it is essential that the taxable person needs to file all the returns with utmost accuracy.

General mistakes that the taxpayers make while GSTR-3B are listed hereunder-

1. Delayed or non-filing pf GSTR-3B returns before the due date.

• This is the fundamental mistake that the taxpayers make, which applies to all the type of GST returns.
• The taxpayers should file their GSTR-3B returns well before the due date for their existing filing category.
• The GSTR-3B due date for the taxpayers opting for quarterly filing is different than those opting for monthly filing.
• It is advised that the on-time or beforehand filing of GSTR-3B under GST should be taken seriously to avoid the penalties afterwards.
•  With the timely filing of GSTR-3B return or any other GST return for that matter, the taxable person can easily avoid payment of GSTR-3B late fee as well as interest.

2. Non-filing of GSTR-3B form for ‘NIL’ returns

• There has always been a misconception amongst the taxpayers around the NIL return filing.
• Taxpayers assume that there is no need to file the return for that tax period when there are no transactions for a particular month or quarter (i.e., no inward supply, no outward supply and no input tax credit).
• However, this is NOT TRUE.  It should be noted with due diligence that NIL return filing is made MANDATORY under GST.
• Failure to file a NIL return in Form GSTR-3B results in late fees on a per-day basis until the NIL return is not furnished.
• The Government has introduced NIL return filing via SMS to 14409 to ease the taxpayer’s efforts further and encourage him to file the NIIL returns in his GSTR-3B form.

3. Clerical mistakes while GSTR-3B filing

• While filing GSTR-3B returns under GST, the taxpayer should carefully mention the tax amount; the Input Tax Credit  undr GSTclaimed and amounts of the outward & inward supplies.
• Rectification of GSTR-3B is NOT ALLOWED once the return is filed. Hence, the taxpayers should furnish the data with utmost accuracy and diligence.
• Clerical mistakes are a big NO while filing your GSTR-3B returns. Hence, it would be best to use an automated GST filing software for all your GST returns filing process.

4. Not mentioning the Debit notes & Credit notes details

• This is a particular mistake that we would like to focus your attention on.
• Furnishing correct outward supplies is an essential part of GSTR-3B filing.
• However, many a time, the details about the debit notes/ credit notes issued during the tax period are left out.

• As shown in the screenshot above, taxpayers need to furnish their credit & debit note details in column-a of Table 3.1 of the GSTR-3B form.

5. Incorrect furnishing of export figures in GSTR-3B

• Table 3.1 of the GSTR-3B form covers the details of outward and inward supplies as shown below:
• Column 3.1 (b) & column 3.1(c) will carry these details of the export figures.

• The values of exports and the value of supplies to Special Economic Zones are supposed to be reflected in column 3.1(c) off the GSTR-3B form.
• Furnishing incorrect details can take a toll on your uninterrupted Input Tax Credit claim under GST.

6. Furnishing details of Input Tax Credit for normal purchases

• GSTR-3B form is a comprehensive document where you need to furnish every detail for a particular tax period.
• GST Input Tax Credit claimed in that tax period must also be mentioned in the GSTR-3B form.
•  Table 4 of the GSTR-3B form comprises the columns where you have to furnish your Input Tax Credit details.

• Table 4 of the GSTR-3B, column A gives the classification of available Input Tax Credit into five types.
• However, there is no separate classification in column A of Table 4 for the Input Tax Credit available against the ‘Normal Purchases’.
• The taxpayers often miss adding the details about their Input Tax Credit on ‘Normal Purchases’ due to the absence of the specific column.
• The taxpayers should note that they should add the ITC details on ‘Normal Purchases’ in the ‘All Other ITC‘ section in column A.
• Interestingly, many taxpayers either omit to add these details in GSTR-3B or add them incorrectly in other sections between one & four.

Taxpayers should be very keen when they furnish the details in their GSTR-3B form under GST.

As mentioned earlier, it is not possible to edit the GSTR-3B form once it is filed. SO, it is better to take precautionary measures for filing accurate details rather than dealing with the further tax implications.

Tax advisors and GST experts have time and again suggested the taxpayers use an automated solution for all their GST returns filing tasks. This reduces the chances of errors and helps you be accurate and claim maximum Input Tax Credit under GST.

To sum it up

GSTR-3B form under GST is an essential document in the GST return filing process of the entire financial year.

Hence, utmost diligence should be observed to eliminate possible mistakes during the GSTR-3B filing online.

Taxpayers can use an automated solution like GSTHero to completely automate their GST return filing experience and eliminate possible human errors.

Follow the tips given in the article to help you minimize human errors while filing the GSTR-3B returns in GST.

Stay updated; stay ahead!

The post GSTR-3B Filing Under GST | Steps To Avoid Mistakes During GSTR-3B Filing Online appeared first on Startagist.

With the aggregate turnover coming down to 50 Cr. the number of taxpayers under the e-Invoicing system has increased drastically. The government intends to bring this aggregate turnover bar much lower so that it could engage more & more businesses under e-Invoicing.

Businesses need not be afraid of the e-Invoicing structure, on the contrary, the businesses should look forward to this step as an effective measure to bring transparency to the taxation structure.

In this article, we shall discuss some of the checklist points to be prepared for the GSTR-1 filing after you have generated your e-Invoices.

Changes in the post the e-Invoicing under GST world

e-Invoicing under GST has changed the invoice generation process.

It would be more correct if we say that, the e-Invoicing system has ‘streamlined the invoice generation by adding a government authentication factor to it.

I’ll explain the major changes that have happened post e-Invoicing under GST  in the table given below:

Fields Impacted in GSTR-1 after e-Invoicing under GST

1. Auto-population from e-Invoice data

e-Invoicing under GST has one of the benefits that the fields in the e-Invoice generated will get auto-populated in the GSTR-1 of the taxpayer.

There are 4 sections, in the taxpayer’s GSTR-1 which will get auto-populated from your e-Invoice.

1. B2B
2. CDNR
3. EXP
4. CDNUR (related to export invoices)

Thus, GSTR-1 will now be easier to file as the major fields will be auto-populated right from your e-Invoice generation data.

However, it is necessary to be careful as any differences found in GSTR-1 & the e-Invoice generation can lead to a tax complication and further probe will be given to the concerned tax officer.

Manually checking every entry can be cumbersome and also introduce a human error in the GSTR-1 draft.

Taking assistance of an GSTR-2A reconciliation tool can help you reduce your efforts and give you a detailed report of all the missing values.

2. Nil / Exempted & Non-GST Supplies

• On the sale of nil, exempted and Non-GST supplies, a ‘Bill of Supply’ is issued.
• It is important to note that, ‘Bill of Supply’ is NOT included under the e-Invoicing system.
• According to the rules of e-Invoicing under GST, separate documents to be issued for taxable supplies and Nil, exempt and non-GST supplies when there is a transaction between two registered parties.
• Tax invoice is mandatory for all the taxable supplies whereas, Bill of Supply is required for all the nil rated, exempt & non-GST supplies of goods or services.

• To make GSTR-1 auto-population more simple keep the following things in mind while  e-Invoice generation:
  • Generate IRN for regular tax invoices, credit notes & debit notes, only. Do not send ‘Bill of Supply’ for IRN generation as this will further complicate the GSTR-1 auto-population.
  • If a transaction involves supplies of taxable as well as nil rated or exempted supplies, there should be two sets of documents supporting this claim.
  • It is important to note that, all the invoices sent to the IRP portal by the taxpayer will be used by the GSTN to auto-populate your GSTR-1.

3. B2C Transactions

• B2C transactions are NOT eligible for an e-Invoice generation.
• Hence, these B2C invoices have to be uploaded in the GSTR-1 by the taxpayer as these will NOT get auto-populated.

B2C invoices can be classified into two types as shown in the table:

The reporting of B2C transactions remains unchanged in GSTR-1 post-e-Invoicing under GST.

NOTE:  One compliance requirement is added for the companies with an annual aggregate turnover above 500 Cr.

This makes self-generated & dynamic QR code generation, mandatory for all B2C transactions.

This step is taken towards encouraging digital payments in the country.

Note 2: Businesses can use eInvoice software to differentiate between B2B and B2C transaction when you are generating e-Invoices in bulk.

4. Advances- Tax Paid

• These should be uploaded by the taxpayer in his GSTR-1.
• GST applies on the advances received from the customer & also on the subsequent invoice issued on those invoices.
• Taxpayers tend to adjust the invoices issued against advances with the tax they have already paid.
• In the GSTR-1, there are 2 different columns to report these transactions.
  • Advances Received
  • Advances Received Adjusted
• Transactions for these advances received & adjusted are reported at an aggregate level i.e. Taxable values and tax values aggregated at Place of Supply (PoS) and tax rate level.

According to the previous method of GSTR-1 reporting, this flow remains unchanged for reporting the invoices against the advances from the customers.

In a Nutshell

GSTR-1 filing has become easier post-e-Invoice introduction.

GSTR-1 is an important document as the Input Tax Credit of the recipient is dependent on a Supplier’s GSTR-1.

However, the supplier must file his GSTR-1 on time and also more accurately.

While furnishing your transactions for IRN generation you should take utmost care that you provide accurate data without leaving any gaps between the e-Invoice data and the auto-populated fields in the GSTR-1.

Tax experts suggest using an eInvoice Solution for matching the entries and making the reconciliation a true success by removing all the gaps.

The post How To Prepare Your Business For GSTR-1 Filing Post e-Invoicing Under GST? appeared first on Startagist.

Fake invoice generation and then claiming ineligible ITC has been a serious issue and thus causing loss of revenue to the Government.

Thus, claiming Input Tax Credit in a proper way is necessary to be compliant with the GST laws.

We will discuss the role of 4 major forms in claiming Input Tax Credit:

1. GSTR-1
2. GSTR-2A
3. GSTR-2B
4. GSTR-3B

This article shall answer a basic query amongst the taxpayers regarding which GST return form should be referred for claiming eligible Input Tax Credit

What is GSTR-2A, GSTR-2B & GSTR-3B in GST?

First thing first, let me introduce you to these 4 GST return filing forms in short.

1. GSTR-1

• This form contains all the invoice details of all the outward sales a Supplier has made.
• Due date to file this return – 11^th of the succeeding month.
• GSTR-1 is to be filed monthly or quarterly as per the scheme chosen by the taxpayer.
• Filing of GSTR-1 is a MUST for all the registered taxpayers except few exceptions like Composition Dealers, Input Service Distributors, etc.

2. GSTR-2A

• GSTR-2A is an auto-generated draft, which gets generated every month.
• GSTR-2A is a purchase-related tax return & is generated by the GST portal for every registered business.
• GSTR-2A of the Recipient is generated based on the GSTR-1, GSTR-5, GSTR-6, GSTR-7 & GSTR-8 of the Supplier.

3. GSTR-2B

• GSTR-2B is generated by the recipient every month as per the GSTR-1 filed by his supplier.
• GSTR-2B can be considered as a standard document for finding your eligible ITC.
• GSTR-2B can be generated on the 12^th of every month.
• GSTR-2B remains static, unlike the GSTR-2A.
• Applicable to normal taxpayers, casual taxpayers as well as the Special Economic Zones (SEZs).

4. GSTR-3B

• GSTR-3B is a consolidated summary of all the outward as well as inward supplies of any registered taxpayer
• Businesses with an annual aggregate turnover of less than 5 Crore can file this GSTR-3B quarterly.
• GSTR-3B should be filled by all the registered taxpayers who are eligible to file monthly GSTR-1, GSTR-2 & GSTR-3.

As we know the basic uses of these forms, we can now find their interlinking and also determine the use of these forms in claiming Input Tax Credit under GST.

Understanding Rule 36 (4) of CGST Act, 2017

The verbatim of this rule is read as follows,

Input tax credit to be availed by a registered person in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers under sub-section (1) of section 37, shall not exceed 10 % of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under sub-section (1) of section 37.

Do not worry; we will simplify this rule with the help of an example.

Let’s look at an example:

SUPPLIER	RECIPIENT
·         Suppose, Appu the Supplier sells some goods of 1, 00,000. ·         He collects 18% GST from the Recipient. ·         Total amount collected= 1,18,000 ·         He files this detail of collecting 18,000 in his GSTR-1.	·         As the Supplier correctly filed his GSTR-1, ·         Raju the recipient will get the Input Tax Credit of Rs 18,000. ·          These ITC details of 18,000 shall get auto-populated in his GSTR-2A & GSTR-2B.

Now, Raju, the Recipient’s GSTR-2A & GSTR-2B will get auto-populated based on the Supplier’s GSTR-1.

So the Recipient now can avail an Input Tax Credit under GST based on his GSTR-2A & GSTR-2B.

Suppose, Raju has one more Supplier ‘GoGo’

SUPPLIER	RECIPIENT
·         Service of Rs.50,000 provided to the Recipient. ·         12 % GST collected from the Recipient. = 6,000 ·         Total amount collected = INR 56,000 ·         But, he has never filed GSTR-1 for this transaction.	·         Supplier Gogo does not file his GSTR-1 for this transaction; hence the ITC details will NOT get reflected in the recipients GSTR-2A & GSTR–2B. ·         The recipient will NOT be able to avail of this ITC of INR 6,000.

From this example, we can make certain conclusions as follows:

1. Eligible ITC of Raju as per his books of Accounts:

• Eligible ITC as per books = 18,000 + 6,000 = ₹ 24,000

What is the ITC available as per GSTR-2A & GSTR-2B of the Recipient?

• ₹ 18,000 only.
• As the Supplier GoGo has NOT filed his GSTR-1, the same data is NOT reflected in the GSTR-2A & GSTR-2B of the Recipient Raju.
• Hence, his eligible ITC becomes only ₹ 18,000 & NOT  ₹ 24,000

Role of GSTR-3B:

Now, the role of GSTR-3B comes into the picture.

Now, the question is how is the Recipient Raju going to avail ITC in his GSTR-3B?

In this case, Rule 36(4) of the CGST Act, 2017 tells that,

The maximum eligible ITC for the Recipient will be calculated as:

Eligible ITC auto-populated in GSTR-2B + 5% of eligible ITC

From the example, we can calculate it as follows:

Maximum Eligible ITC =   ₹ 18,000 + 5% of 18,000 = 18,000 + 900 = ₹18,900

Taxpayer’s Dilemma: Should I refer GSTR-2A or GSTR-2B?

Many taxpayers are still unaware of some important facts about availing the maximum eligible Input Tax Credit.

Should I refer to my GSTR-2A or GSTR-2B for claiming Input Tax Credit, this is the most common question among the taxpayers.

Let’s continue with our previous example:

In short, When a Supplier delays his filing of GSTR-1, the following 2 things happen:

1. The data of this transaction will NOT reflect in the GSTR-2B of the Recipient.
2. Although the Supplier has filed his GSTR-1 returns AFTER the due date, hence, these transaction details will REFLECT into the GSTR-2A of the Recipient.

Now, with GSTR-2A you can claim the ITC of ₹ 84,000.

But, with GSTR-2B you can NOT claim the ITC of ₹ 84,000.

Now, the taxpayer is confused! Whether he should claim this ITC in GSTR-3B as per his GSTR-2A in the current month OR Input Tax Credit as per his GSTR-2B in the next month?

CBIC Clarifies

In the light of clearing this confusion, CBIC has recently cleared that in this case,

The CBIC has clarified that the Input Tax Credit MUST BE AVAILED as per the invoice details available in GSTR-2B.

The invoice details in the GSTR-2A shall not be used to avail of the ITC.

From this, we can now infer that the invoice details in your GSTR-2B shall prevail for claiming your eligible Input Tax Credit.

In Conclusion

We understood that the invoice details in your GSTR-2B should be considered as final when you are claiming Input Tax Credit.

Any discrepancies found later in the ITC availing process may attract serious implications and can also go up to suspension of your GST Registration.

Properly claiming Input Tax Credit is very important.

Failure in doing so may result in the blocking of your working capital.

Informing your GST defaulting Suppliers is a very primary task every taxpayer should do to keep the flow of the working capital in proper order.

Using an GSTR-2A Reconciliation Software can help you in claiming up to 100% of your eligible Input tax credit. This will make your task much easier and will save you a lot of time & efforts.

The post Input Tax Credit under GST: Role of GSTR-2A & GSTR-2B in Claiming ITC appeared first on Startagist.

The introduction of e-Invoicing has been a successful implementation in the GST structure as it has helped in benefiting the taxpayers in multiple ways.

e-Invoicing shall apply to all the B2B transactions & documents like Credit Notes, Debit Notes, RCM Invoices, Export & SEZ Invoices, B2B Invoices & B2G Invoices.

In this brief article, we shall specifically focus on the impact of e-Invoices on the Special Economic Zones & certain specific provisions made for the transactions carried out between the business entities located in the SEZs.

Stick till the end to learn more…

What is a Special Economic Zone?

Special Economic Zones (SEZ), are the geographical regions of the country that are classified by the government as special economic or trade zones.

These regions enjoy very simple tax & legal compliance regulations.

These regions enjoy certain privileges compared to the other business centers to develop the region by encouraging more investment which in turn will lead to more employment creation.

The region which is marked as a Special Economic Zone (SEZ) is considered as a foreign territory for trade & operation purposes. From this fact, we can understand that, any supplies made FROM or made TO the business located in Special Economic Zone, is considered as an inter–state supply and Integrated GST (IGST) is levied upon it.

Understanding Exports & Imports in SEZ

As the SEZ units are considered as foreign territories, the supplies made TO & FROM these units are termed as IMPORTS & EXPORTS respectively.

Before moving ahead with the applicability of e-Invoicing for Special Economic Zones, it is very important to know certain terminologies that we will be using in the article ahead.

What does EXPORT mean in SEZ?

• Exporting goods or services outside India from an SEZ unit.
• Supplying of goods or services from one developer in SEZ to another unit of the same SEZ or different SEZ within the country.

What does IMPORT mean in SEZ?

• Importing of goods or services from a region outside India, by any mode of transport.
• Receiving of goods or services from one developer in SEZ to another unit of the same SEZ or different SEZ within the country.

Working of e-Invoicing in SEZ

As mentioned in the above segment, we know that all the supplies made to the SEZ are considered as the Exports/Imports.

Hence, the e-Invoice Generation will apply to all the supplies MADE TO the SEZ units.

However, the e-Invoice generation will not apply to the supplies MADE FROM the SEZ units.

• e-Invoicing on IMPORTS to SEZ – YES.
• e-Invoicing on EXPORTS from SEZ –NO.

A. Supplies made TO SEZ units.

According to the current eligibility criteria of the e-Invoicing system, the businesses with aggregate turnover above 500 Crore are mandated to generate the e-Invoices by furnishing all the invoice details on the Invoice Registration Portal (IRP).

If your business falls under this category and you are making a supply to a business located in the SEZ, then it will be mandatory for the supplier to create the invoices of such supplies in the specified Schema & upload them to the IRP for unique Invoice Reference Number (IRN) & QR code generation.

This has been mandatory for all the businesses that are eligible for e-Invoicing and are supplying goods or services to the SEZ unit. Also, these businesses must generate the e-Invoice with a unique IRN from the IRP portal.

GST e-Invoicing Covers- Supplies to SEZ (with or without GST payment), Exports (with or without GST payment), Deemed Exports (with or without GST payment).

B. Supplies Made FROM SEZ units.

About the GST Notification (Central Tax) No. 61/2020 dated 30^th July 2020, all SEZ units/developers are EXEMPTED from generating e-Invoices for their supplies.

If your business is located in the Special Economic Zone and you fall in the aggregate turnover bracket eligible for e-Invoicing despite it you will not be mandated by the government for the generation of IRNs for any of your invoices.

E v-Invoices will not be required to be generated for the supplies received from the Special Economic Zones.

However, as per a recent notification, e-Invoicing will apply to SEZ in special cases, it is applicable if they have specified turnover and fulfill other conditions for an e-Invoice generation.

Special Case:

There are some instances where e-Invoicing applies to the businesses in SEZs.

To understand this better, let me give you an example.

Consider a business entity ‘Action Software Pvt. Ltd.’ This business is located in the SEZ ‘Business Hub’ in Pune city.

Now consider that the SEZ unit, SEZ Developer, and the regular Domestic Tariff Area (DTA) are registered under the same legal entity.

This means that they have the same ‘Permanent Account Number’ (PAN).

Also, the business entity has an aggregate turnover that exceeds 500 Crore.

In this case, the SEZ unit will be exempted from generating the e-Invoice but the SEZ Developer and the DTA will be required to carry out e-Invoicing.

Note:

The recipients of the goods or services are required to identify SEZ Units & SEZ developers as separate entities, considering that they display unique traits & IRN requirements.

e-Invoicing under GST & its Impacts on GST Refunds

When the business entity lies in the Special Economic Zone, the regulations related to e-Invoicing are different as discussed in the above sections.

The same holds for the GST Refunds.

Exports & SEZ transactions do attract refunds & with e-Invoicing impacting these transactions, it will also have an impact on the refunds.

The businesses which are eligible and fall under the prescribed turnover bracket have to furnish the data of the invoices, credit notes & debit notes on the IRP.

These invoices should be related to the exports of the SEZs.

The businesses which are liable to e-Invoice generation of Export & SEZ Invoices must report their Invoices to the IRP & generate IRN for their invoices, credit notes & debit notes.

The IRNs corresponding to these e-Invoices will be helpful for the businesses while claiming the refunds.

Hence, it is more likely that the Government will process the refund request sooner & in real-time. As the e-Invoices generated on the IRP portal are authenticated by the Government and are also accurate if the reconciliation of invoices is done before uploading.

Additionally, IRNs will be helpful for businesses while claiming the Refunds as the e-Invoices are accurate, validated & authentic documents.

So the chances are that the Government will process the refund request sooner & in real-time as the invoices are also created accurately & in real-time.

In Conclusion

In this article, we have discussed the specific provisions made concerning the e-Invoicing system for the Special Economic Zones (SEZs).

e-Invoicing is one of the important features added to the GST structure and it has been nothing but success since its inception.

e-Invoicing has multiple benefits including the claiming of maximum Input Tax Credit.

Hence, proper and accurate uploading of the invoice data on the IRP is very important.

You can use some e-Invoicing Software which will allow you seamless e-Invoice generation with a fully automated process and no human intervention.

This will reduce the probable errors which can be introduced when a business opts for manual uploading of all the invoices on the IRP to generate corresponding IRNs.

It is always better to take measures first than to suffer the heavy consequences later.

Until the next time…

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In this article, we will discuss 7 best expense tracker apps to manage your finances. With the help of these apps, you will able to keep track of your monthly expenses and efficiently manage your finances. Expense tracker apps help you to reach a new level of financial knowledge and preparedness. If you are also one of them who wants to track your budget/ expenses then of these expense tracker apps is likely a great fit for you.

QuickBooks

Are you one of them who is running a small business? When someone runs a business they have attempted many of the ways for both the personal and business finances with the help of the expense tracker app. In some of the cases, it leads with the messy reporting, unclear results and several troubles for understanding that what is going on with both sides of the financial life. If you forget to manage the finances between the personal and business that can lead to many problems due to the taxes as well as it might also harm your personal finances if your business is ever sued. So here we are providing the best expense tracker app for managing your finances and expenses with the QuickBooks program. If you want to use QuickBooks then it comes with the various versions as well as with the editions.  It all depends on your computer and business needs. QuickBooks is considered as one of the best options that come with several options to meet with your entire business management. Thus it includes the expense tracking, contract management and payroll. You can get all these functions in the one application.   

Mint

Mint is one of the oldest and an app that has full-featured expense tracker app options. Every entrepreneur knows that mint is one of the best-known apps for personal finance tools around. There are several features that come along with the Mint app. We all know that mint is an expense tracker app that is free of cost, it helps to support the wide range of the banks and the lenders. In the financial software world mint is comes in the most trusted names. Mint allows you to receive the budgeting, expense tracking, credit monitoring and the bills. 

Wally

With the help of the expense tracker app wally, you can get insights into the spending habits by using artificial intelligence and some of the other technologies. It is one of the best focus that helps properly for focusing on all the expenses and it ensures by the feedback. It also provides social features for the purpose of the shared expenses.  

Personal Capital 

If you are not able to control your money regarding expenses then personal capital is considered as one of the best options. It comes with better charts and the graphs for your finances. It is known for the full-featured investment app that is free personal finance dashboards that is available for anyone who signs up and is packed with the features. If you are busy in your work then it allows you to automatically tracks and categorizes every expense that you make on linked credit or the debit card.  No time to record? Then it is a perfect app to fit with your all the requirements by showing your monthly cash flow with the ability to break all the expenses according to the category and helps to dig in the deeper.

Clarity Money

Clarity Money is one of the best financial apps that is available for both the online and mobile interfaces. Clarity Money has an easy to navigate design, a wide range of the accounts supported. It also includes the features of recording the spending, savings and subscriptions.  According to each month, you can able to track the spending over time. You can compare your last month budget to this month with the easily available options. Clarity Money can track and cancel subscriptions, track your credit score, and automatically add to savings on a regular basis.

YNAB

When we talk about the budget and the needs then why not we talk about the YNAB. YNAB stands for the You Need a Budget. The folks behind this app worked hard to build an app specifically focused on budgeting and expense tracking. The app takes a unique philosophy to budgeting. Users are forced to give a job to every dollar they earn, whether it is related to savings, expenses or investments, and the app uses that to show user budgets. The original version allowed for manual expense tracking only, though the newer update allows you to automatically import expenses from a linked bank account as well. It isn’t perfect for everyone, but if you want to start budgeting and need help getting the process moving, YNAB is likely a good fit for your needs.

Mvelopes

How much money do you have to spend this month at coffee shops? How about clothes? Most budgeting and expense tracking apps are designed to tell you what happened after you spend your money. Mvelopes takes a different approach and offers spending forecasts and suggestions to keep you from going overboard on your next visit to the mall, or Amazon, or wherever else you like to spend money. Envelope budgeting is a style of budgeting where you literally put cash in envelopes at the start of the month, and you can spend until your envelopes are empty. Mvelopes takes that experience online, offering users digital envelopes to store their spending money each month.

The post 7 Best Expense Tracker Apps to Manage your Finances appeared first on Startagist.

Being a part of the startup ecosystem, I had the opportunity to meet a lot of startup enthusiasts and entrepreneurs, and hear out their experiences and stories. Some were happy, some stressed, and some nervous. It was a great learning experience for me as it helped me to figure out why people succeed, why they struggle or fail in their entrepreneurial journeys.

In one such closed group meeting, I came across a technologist who had started his own tech firm two years ago after spending more than 20 years with one of the industry’s biggest players. He mentioned that while working on a particular project in his previous organization, he figured out a gap in the offering that no one cared about. He then reached out to his clients and asked them if they will be happy to get this gap filled in. On receiving a positive response, he decided to call it quits one day and with a couple of other like-minded people (technologists again), started his own firm.

It took the team close to six months to come up with the product. And when he approached the same set of clients, they were happy to see the gap filled in, just that there was one issue – no one was ready to pay for it. On further interaction, clients shared that while they were happy with the solution offered, they didn’t feel the need to spend extra money on the same. They were happy to consider it if it was offered free of cost to them (as an add-on to the existing product).

At that time, the gentleman realised he missed out on one of the most important aspects of doing business – the product saleability. And that prompted me to think, “What should come first, the product, or a thorough Market Research?”

As an entrepreneur, we constantly think of challenges that we face — in our daily lives, or in our working environment, and try to figure out a solution that can be offered to the consumer. We choose a solution, depending on how we feel the big the gap is. For instance, some people feel there is a lot can be done in social media, and hence focus on that, and some feel they can help consumers in selecting certain products better, and hence their focus lies there.

As far as my interaction with different entrepreneurs is concerned, the idea usually stems out from the mind of an individual (typically the founder), and s/he leads it to next steps. I figured out in most of the cases, it was an individual’s thinking of a gap that resulted in a product.

So what’s wrong with that? Nothing, just that most of the times, these individuals refuse to validate their thinking with reality. They are so sure and confident of their idea that they don’t feel the need to cross check if it will be accepted well in the market. Personal egos and rigidity sometimes take over practical thinking and that’s where the most important step before launching a product is missed out – doing a thorough market research before turning one’s dream product into reality. This is what had happened with the gentleman whom I met in that forum.

And that’s where I strongly feel, the first step to kick start any idea is to get it validated and be assured that one is moving in the right direction. Here are a few steps that a budding entrepreneur must take in order to ensure he/she is moving in the right direction:

Acceptance of the solution/product in a closed group

You have identified what you are going to work on, and are confident that it’s the need of the hour. But before beginning to work on it, you must validate if the market also feels so, and if there is a genuine demand for it. Start checking with your friends, explain them why you are thinking on these lines and how will it benefit the end users. Talk to people who have faith in you, and who will give you a genuine feedback. Please ask them to answer candidly, and ensure they just don’t respond to please you. An initial check will help you in determining if you are on the right path or not.

Acceptance of the solution/product in the market

Once you have gained confidence of the product’s acceptance in your closed group, please don’t stop. Now is the time to do a reality check. Move out of your comfort zone now and do a thorough market research. You may use an MR agency or if the budget doesn’t permit, use your relationships to talk to reach out to maximum potential end users. This will be the acid test as their acceptance will determine whether it makes sense to explore the idea further or not.

Mere acceptance is not crucial, saleability is

Many times, I have heard people saying – wish this product had this feature, wish I had something that could do this, and I’m sure you would have heard that too. Generally, I ask them immediately – will you pay for this, and in 90 per cent of the cases the response is a straight “No”.
And that’s the difference between accepting a product and paying for it. A lot of people may revert saying that they love the product, but then you immediately need to ask if they are willing to pay for it or not.

We all love freebies, don’t we? But when it comes to paying for a product, we start calculating as end users. This might be the most tensed and nervous exercise for you, but don’t worry, if you pass this critical test, your half battle is won and the solution has a green signal from the consumers.

Please note that in some cases, the users may not pay for the product but you may earn revenue out of it through other mediums (e.g. sponsorships, etc). In such a case, you may touch base with the relevant audience that would be bringing the revenues and have their buy-in on the concept.

Backward calculation

The product is validated, the users have accepted it, and are willing to pay for it, too. Now is the time to prepare your business case. Plug in the costs that you may incur, and the revenue that you will generate. It will help you to ascertain whether your product is business-ready or not (in terms of profitability). It may not be perfect, but if the figures don’t match, you may need to re-think your strategy.

A mentor on board always helps

As an entrepreneur, you are always excited, and raring to do more than you can execute. It’s natural, and that’s when you need to have someone who can guide you, helps you in refining your thoughts, and ensure things are executed in the right manner. A mentor can be a huge asset and can keep a track of the overall picture while you delve yourself into operational nitty-gritty. Mentors can give you insights with their own experience and also help in connecting with investors, partners, valuable resources and a lot of other people who might be able to add value to your business.
So before you start working on your product, tick mark all the above points to ensure you have got it right. Trust me, these are very difficult steps but are critical to ensure you don’t face any difficulties once you are into it. While there would be lots of learnings in the journey, that may result in certain change in strategies too, the rock solid base created by you will keep you afloat in the long run.

The post Here are 5 tips for launching a saleable product appeared first on Startagist.

The aim behind the government’s action was to combat tax evasion, counterfeiting and corruption. The government claimed that eliminating large denominations would make it harder to hide large amounts of cash. The abrupt nature of the move and the prolonged cash shortages that followed created disruptions throughout the economy, threatening the economic output of the country. The move was heavily criticized as poorly planned and unfair, and was met with protests, litigation, and strikes.

As a result of demonetization and its adverse effects on the economy, The Asian Development Bank cut its growth estimate for India for the financial year ending March 31 to 7% from 7.4%. JP Morgan expects growth to decline by half a percent to 6.7%. The cascading effect of demonetization – drop in sales, layoffs (in sectors like construction, textiles & jewelry) have all taken a big hit on the economy. According to some estimates, the cost for merely swapping out the demonetized currency is around 1.28 trillion rupees, or about $19 billion.

But not everyone lost out, e-wallet firms such as Paytm, Oxigen and MobiKwik turned out to be lucky winners and they won big. As per government data, the number of daily transactions has shot up from 17 lakh (November 8, 2016) to 63 lakh (December 7, 2016), a growth of 271%.

Huffington Post: In a single master stroke, the government has attempted to tackle all three malaises plaguing the economy—a parallel economy, counterfeit currency and terror financing.

According to a study titled Indian m-Wallet Market, within 12 days of the announcement Paytm raked in over 7 million transactions worth Rs 120 crore a day and was doing more transactions than the combined average daily usage of credit and debit cards in India. Now that is some serious business gain, all thanks to demonetization.

A lot of people were thankful for e-wallet firms for helping them tide through the tough days post demonetization, and rightfully so, but they failed to see how with every transaction they were losing the value of their money. Let me explain this using an example:

Mr. X buys Rs. 10,000 worth of goods online and he pays for it using an e-wallet. When the payment gateway receives the money, its charges TDR (transaction discount rate), on an average it will be 2% + service tax on transaction value. So payment gateway takes Rs. 230 ((10000*2%)*(1+15%)) out of Rs. 10,000. In most cases, the company pays 50% (Rs. 115) of its payment charges to the bank and the rest (Rs. 9770) to merchant. Upon receiving payment, the merchant will supply material to Mr. X. When the merchants supplies the product, the cost incurred (Rs. 230) is charged to Mr. X (either directly or by decreasing the value of the product to Rs.9,770 instead of Rs.10,000). Here is a visual depiction of the above transaction:

If we calculate the TDR for a large number of transactions we find that after about 70 transactions, 80% of the initial amount is lost as transaction fee alone (and 90% is lost after 100 transactions). Cash, on the other hand, does not lose its value in transactions. So going cashless does comes with its inherent problems, costs that the average Indian may not be aware about.

Is going cashless completely secure?

Although going cashless does seem like the way forward, we need to stop & think if it is completely secure. In December, Paytm servers were down for 1-2 hours, affecting a very large number of transactions. Paytm, in an official communication has also admitted to some fraudulent Paytm users who were part of an online scam. United Payment Interface (launched by RBI) uses a double factor authentication and is considered more secure according to bankers.

The Wall Street Journal: The long-term effects of India’s demonetization gambit remain unclear, largely because no other major economy has attempted such an experiment except during a crisis. But with growth slowing and job losses rising, the short-term prognosis appears grim.

Some experts feel it is RBI’s inefficiency when people pay small amounts like 10/20/50 using e-wallets, the institution should have done more to distribute smaller denomination notes post-demonetization. e-wallets are similar to carrying a self-signed cheque, very vulnerable to fraudsters. India is far behind other nations when it comes to dealing with debit/credit card frauds, we can only hope it is in a better state for e-wallet hacking and frauds.

Another talking point among experts is ownership, the single largest shareholder of Paytm is Alibaba, the world’s largest e-commerce company that is based in China. Although the idea seems far-fetched there are some who believe that with some pressure, Alibaba could get access to consumer spending and behavior patterns from Paytm. In a world where information is power, this idea should not be taken lightly.

Demonetization may have its pros & cons, and we are all more or less aware of it, but the flip side of it and its boost to e-wallet companies makes for a great case study. Some of the issues that may arise can be addressed:

• The government can revise or enforce existing laws to ensure that parties outside the country (such as Alibaba) do not get access to sensitive data.
• Data security must be regulated by an independent government agency that must set the rules & guidelines and enforce them from time to time. There must be necessary protocols put in place for cases of consumer fraud and the agency must be bestowed with necessary powers to handle such incidents.
• The government can encourage the use of UPIs and use its low transaction fee as a selling point.
• The government must bring about regulation in the transaction rates charged by e-Wallet firms and need to reduce these rates drastically. According to reports, this digital payments market will soon touch 2,000 trillion by FY 2021-22, even a small percentage of this market will be quite substantial.

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Image Credit: Pixabay

The author is Founder Director of SpingforthCap.com, a full service mid-market investment bank

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