Requirements for startup India registration
1.Should be a registered LLP or company. 2.Incorporated after 2011. 3.Turnover should be less than INR 100 Cr in any year. 4.Should be an innovative business model, development or improvement of product/process/service or a scalable business model providing employment opportunities.
Posh Act: Information must be entered on the portal: Firms and organizations that are not registered will face several actions.
How to register? For first time registrants, click on the ‘Register Newly’ button provided on the 7OME PAGE of the portal and enter the requested information and CREATE user Id and password. Then follow the instructions given by the portal and perform DATA ENTRY. Educational institutions, NGO institutions and Business institutions should also register on […]
ULI Unified Loan Interface To Get Loan In One Click
Indian banking industry, a major innovation is unified lending interface called ULI (Unified Lender Interface). As part of digital India, this new system is designed to facilitate the lending process and make loans available to people at EMU. What is ULI? ULI is a digital platform that unifies the entire process of taking a loan. […]
GST on renting of property
a) Residential . Registered person to registered or unregistered person (Exempt) . Unregistered person to registered person(proprietor) (Exempt) . Unregistered person to registered person (other than proprietor) (Reserve charge @18%) b) Commercial . Registered person to registered or unregistered person (GST@18%) . Unregistered person to registered person (Revenue charge@18%) . Unregistered person to unregistered person […]
GST LATEST CLASSIFICATION ON RCM
1.Reverse change on renting of commercial property by unregistered to registered person, the registered person shall pay GST on RCM basis. 2.Ancilliary/intermediate services by goods transport agency. Ancillary service like loading, packaging, warehouse etc. shall be treated as the principal activity. 3.Supply of metal scrap by unregistered dealers-registered recipients shall pay GST on RC
BENIFITS OF MSME REGISTRATION
1.Entity registration as a firm. 2.Opening current A/c in the name of the firm. 3.Collateral free loan from bank up to 5 Cr. 4.Reduction of interest rate up to 1.5%. 5.50% subsidiary on patent & trademark registration. 6.Concession on electricity bills. 7.Protection against delayed payments. 8.Special reservation for manufacture & protection sector. 9.Credit linked capital […]
TYPES OF BUSINESS ORGANIZATIONS
1.PROPRIETORSHIP: . The owner has complete control over the business including all the aspects of operations, finances and decision making. . Sole proprietorships are generally inexpensive to establish and maintain and have low start-up costs. . Doesn’t have corporate tax, and the owner doesn’t pay unemployment tax on their salary. . Easy to wind up […]
Main benefits of MSME & Startup
MSME 1.Protection against delayed payment (MS) 2.Time bound resolution of payment related disputes. 3.CG/RBI policies for promotion & credit. Startups 1. Tax holiday 80-IAC (LLP/CO) 2.Co. entitled to agree tax exemption. 3.No tax audit if turnover doesn’t exceed 10Cr.if not more than 5%of receipt, expenditure is in cash. 4.Concessional tax rate @5% of T/o doesn’t […]
MSME Legal Form – Proprietorships: Pros &Cons
Pros: *Most hassle-free form of organization. *No meetings/filings like LLP/company. *No requirement of audit except otherwise required. *Option of presumptive taxation u/s 44AD ,44ADA,44AE under Income Tax Act. *Exempt from alternate minimum tax of adjusted total income doesn’t exceed Rs 20 lakhs. *Individual/HUF not required to deduct TDS on payments to residents- interest on securities, […]
MSME
What legal forms of organizations can MSM’s adopt. 1.There is no particular form of legal organization to be adopted to be eligible for benefits under MSME Act. It can be *Proprietorship *HUF *Association of persons *Partnership firm *LCP *Company *Any other legal entity *Co-operative society 2.If the entity is a startup, it must be a […]