INTRODUCTION

A startup is a newly business setup that is small in nature and initiated by single or a group of individuals. What makes the startup different from other businesses is that a startup presents a new product or service that is not in present at some other place in the same manner. The base of startup is modernisation and innovation. The enterprise which indulge in developing the new product or service or redevelop the current into something better is signifies as startup.

DESCRIPTION

Startup India is a campaign that is established in year 2016 by the Prime Minister Narendra Modi Ji with the intent to boost entrepreneurship. This action plan has various objectives like promotion of bank financing for the startup, to simplify the process for the startup registration and incorporation and along with that aimed to grant many tax aids to newly established startup. But all the advantages and exemptions are on hand to the startups solely if they satisfy below mentioned criteria of an ‘Eligible Startup’.

Eligibility Criteria for startup recognition

Upto a period of 10 years from the date of incorporation, if it is integrated as a private company (as defined in the companies act, 2013) or a limited liability partnership (under the LLP act, 2008) or can say registered as a partnership firm under the provision of section 59 of the Indian partnership act, 1932.
An enterprise shall be consider as a startup only up to ten years from the date of its registration
Turnover of the entity since incorporation shall be less than one hundred crore rupees for any of the previous financial years.

Entity is working in the direction of innovation, development or enhancement of products or processes or services, or if it is a scalable enterprise model with a high manageable of employment generation or can say creation of wealth.

An entity must be newly formed or if in case it’s being registered by way of splitting up or renewal of an existing one then it shall not be considered in ‘Startup’.

Tax exemptions in startup India plan

Startup India tax exemption under section 80 IAC says that a startup may apply for tax exemption after being registered by DPIIT. DPIIT registration certificate and approval of inter-ministerial board allows the startup to avail tax excursion for three consecutive financial years out of its first ten years since incorporation. One entity must be eligible for this exemption if they are incorporated in form of private limited or LLP after 01 Apr, 2016 and they got the certificate of recognised startup.

Tax Exemption under section 56 of the income tax act (Angel Tax)- Unlisted companies raise the capital by way of issuing the shares and the share prices is more than FMV of share sold. Entity after getting registration as startup is eligible to apply for angel tax exemption. An entity must be recognised by a department for promotion of industry and internal trade and the cumulative amount of paid-up share capital and share premium of the startup must not exceed Rs 25 crore after the anticipated share issue.Application for tax exemption procedure after recognised by DIPP

Make signup and create login credentials on the startup India portal.

One has to make an application for startup recognition which is pre-requisite for the next tax holiday request. On positive validation and approval of application, the startup shall obtain a “certificate of recognition” with DIPP number.

From now the registered establishment are eligible to get tax benefit or tax holiday after the approval from IMB (Inter-ministerial Board) and the following landmark is to make an application u/s 80-IAC online.
The application shall be examined for uniqueness, innovation, scalability and significance of sector and other parameters by using the “Technical Agency” who shall put up the case within the next meeting. Before this stage, if some clarification is required to be sought, the utility is moved for resubmission and therefore the query is communicated through email. Each startup gets three probabilities of resubmissions which include the primary utility made.

On approval from IMB in its assembly comprising of various officials, a “certificate of eligibility” is issued to the startup or the application is rejected.

DPIIT number with details of startup application and other tax benefit certificate details is to be feed into ITR at the time of claiming exemption.Rewards to eligible startup under startup India program
3 year tax excursion in a block of seven years The startup registered after April 1, 2016, is eligible for getting a hundred percent tax rebate on profit for the time period of 3 years in a total of 7 years but annual turnover must not exceed 25 crore in any of monetary year.

Exempted long term capital gain tax Section 54 EE of income tax is introduced to exempt taxes on a long term capital gain if such a long-term capital obtains or a phase thereof is invested in a fund notified by using Central Government inside a length of six months from the date of transfer of the asset. The most amounts that can be invested in the long-term specific asset are Rs 50 lakh. Such quantity shall be continued to be invested in the targeted fund for duration of three years. If withdrawn before three years, then exemption will be revoked in the year in which money is withdrawn.

If investment above the fair market value The authority has exempted the tax being levied on investments above the fair market value in eligible start-ups. This must be made by domestic angel investors or family but must not be registered as venture capital funds. If investment done by incubators then also it’s exempt but it must be above the fair market price.

INTRODUCTION

Small Industrial Development Bank of India (SIDBI) purpose is to arrange finance facilities for MSME sector and to provide short term lending to businesses. It was recognized on April 2, 1990, through an act of parliament. To arise as a single window for gathering the monetary and developing requirements of the MSME sector SIDBI loan was introduced as preferred brand and consumer pleasant institution for improvement of shareholder’s wealth through new technology stage.

DETAILED DESCRIPTION OF TOPIC SIDBI

SIDBI stands for Small Industries and Development Bank of India, that mostly emphases on the promotion, funding, and expansion of the micro, small and medium enterprises. It was established in 1990 with the chief objective of supporting the MSME sector by enabling them with cash flow. MSME gets help from bank in getting funds for business development, commercialization and marketing of products with innovative technologies. SIDBI proposes custom-made monetary products under several loan schemes and serve services to meet the demands of various business projects.

To be the main financial institution for small medium sector, SIDBI has devoted its means towards progression of an energetic MSME ecosystem. SIDBI’s initiatives have remained aligned to the national goals of poverty alleviation, employment generation, lighting entrepreneurship and fostering competitiveness in MSME sector.SIDBI’s Objectives

SIDBI follow the major objectives which are development, promotion, coordination and financing. Main points are here, To cover monetary support to supplemental security income and other sectors. Supplemental security income program generate welfares to incapacitated adults and children who have restricted revenue and resources.

SIDBI delivers indirect funding through banks, NBFCs, SFCs and other financial institutions.
SIDBI purposes to generate stability in the economic sector by firming credit flows and encouraging skill development.Modes of Finance

There are three mode of financing

• Direct finance: In the form of assistance to MSME sector in term loan and working capital.
• Indirect finance: The indirect assistance to core lending institutions comprising banks, state level financial institutions, etc. having an extensive network of divisions all over the country. The main purpose of this scheme is to upgrade the credit flow in MSME sector.
• Micro finance: This scheme provides micro finance to small business persons for business establishment.Main purpose of SIDBI

The foremost functions of SIDBI are:

• To assist financial institutions in lending to small-scale industries to confirm their monetary health.
• To offer direct loans to companies categorized in the small and medium enterprises sector.
• To carry out marketing initiatives for small-scale industries on a global scale.
• To offer venture funding possibilities for industries in the small and medium enterprises sector.
• To help in promotion of employment and upgradation of technology in the sector.

Benefits of availing a loan from SIDBI

• To offer loans as per the requirement of the business and at attractive interest rates.
• Benefit of a relationship manager to advice businessmen on the type of loan they should apply for.
• No collateral or security for loans up to 1 crore.
• To provide sufficient capital for the business.Stand-Up India for Financing SC/ST and Women Entrepreneurs
  Small Industries Development Bank of India (SIDBI) – Stand up India scheme facilitate bank loans between 10 lakh and 1 crore for set up a greenfield initiative to the minimum one women entrepreneur or reserved caste or tribe (SC/ST). These people must be indulge in manufacturing, trading or service sector. Shareholding and controlling stake (not less than 51%) must be required to be held by either a SC/ST or women entrepreneur if enterprise is non-individual

Suitability for loan

Qualified applicant who is a women business person or schedule tribe, schedule caste must be age of more than 18 years.

Merely Greenfield project are qualified for finances under this scheme. The primary or new first time project of the person in manufacturing or services or trading sector will be indicated as Greenfield.
In circumstance of non-individual enterprises, 51% of the ownership and controlling stakes would be detained by either SC/ST and/or women entrepreneur.
Borrower must not be in defaulting to any financial institution or bank.

INTRODUCTION

Under Pradhan Mantri Mudra Yojana (PMMY), an arrangement launched by the Hon’ble Prime Minister on April 8, 2015 for specified the advances upto 10 lakh to the small business having non-corporate structure and transact in non-farming activity. Mudra stands for Micro Units Development and Refinance Agency Limited, which is an NBFC, which is associated for the improvement of micro initiative division in the country, It also aims at refinancing support to banks for advancing to small units to ensure loan necessity.

DESCRIPTION

Mudra loan

The Mudra loan is distributed under the Pradhan Mantri Mudra Yojana to micro and small initiatives having non corporate background and deals in non-farming Sector. From this initiative one can get loan upto Rs.10 Lakh. The major block to the progress of entrepreneurship in the non–corporate small business sector is deficiency of economic funding. Further in excess of 90% enterprise of this sector does not have formal bases of finance. Indian government has fixed up mudra bank through a legislative enactment for catering to the needs of the segment for bringing them in the mainstream. All non-corporate small business segments consist of firms like proprietorship or partnership which is running as small industrial units, service sector units, are eligible for help under mudra.Approach of Pradhan Mantri Mudra Yojana

In this segment, minimum 60% of funding would flow to initiatives. Partner mediators of mudra panel have to challenge to follow the following outline:

• Primary businesspersons, youth entrepreneurs aged up to 30 years and women industrialists shall be cheered and special schemes shall be planned for such entrepreneurs.
• Highlighting shall be on cash flow based advancing and not security based lending. Collateral securities, etc. shall be evaded.
• Recompense responsibilities shall be stretchy and framed according to the business cash flows of the entrepreneur.Classes of mudra loan

There are three structures, namely Tarun, Kishor, and Shishu.

• Shishu: It’s a plan which offers loans upto Rs 50 thousand. This is for initial stage of business.
• Kishor: This scheme offers loans more than fifty thousand and upto Rs 5 lakh for businesses that is already recognized and looking for extra finance.
• Tarun: This is suitable for sound firmed business and this Scheme offers loan amount upto Rs. Ten lakh
  These arrangements are scheduled to support in meeting the requirements of different business activities and areas. Loans upto 10 lakh can be issued by banks without collaterals. No subsidy is allowed to be given in this yojana.Objectives of mudra loan

Mudra loans can be taken for a variability of motives that help in generating employment and producing revenue. The loans are extended mainly for,

Community, personal service and social activities: The activities for community, personal service and social activities include medical shop and motorcycle repair shop.
Transportation automobile: Mudra grant financing for procurement of transport vehicles for goods as well as personal.

Food Products Sector: Further down the food products sector, mudra loans can be availed for actions like achar-papad making, small service food stalls, etc.

Business Loans for Shopkeepers and Traders

Mudra loans can be availed by individuals who require financing for successively their shops, business and trading activities that helps in producing income.

Financing of machinery for micro units

Mudra loans are comprehensive for the setup of micro enterprises by buying the necessary machinery.Eligibility for mudra loan

Person who have their own business and deals in non-farm activities like trading or manufacturing and need an amount to ten lakh can smear up for mudra loans. This loan can be availed from

NBFC

• Public sector banks
• Private sector banks
• Regional rural banks
• Small banks

Micro finance institutionsBenefits of taking mudra loan

The key benefits of taking mudra loan:Economic services can be obtained at affordable interest rates by micro-small businesses

Business loans can be taken for small amount and credit guarantee of the borrower is reserved to the government, so if borrower is incapable to refund the amount, the government will be liable to all sums.
Financial assistance is accessible through this system in regions where people have no access to basic funding facilities.

The time period for repayment can be extended up to 7 years.

businesswomen have the advantage of loan at reduced interest rates.

The mudra loan arrangement is in association with the “Make in India” operation which the government has originated to nurture invention, smooth investment in the country.Mudra card

A debit card issued against the mudra loan account for working capital portion of the loan known as Mudra card. Mudra card can be usage by the borrower in manifold withdrawal and credit facilities to manage the limit of working capital efficiently and keep the interest burden minimum. Mudra card helps in creating the credit history for the borrower and digitalization of mudra transactions. This card can be worked throughout the country for cash withdrawal from any ATM and also make payment through any sales.

INTRODUCTION

Startup India scheme is an initiative by government of India which aims to support entrepreneurs and create jobs via G2B Portal. This government to business (G2B) Portal is a platform where online applications are filed for access to number of government to business services. The importance of the scheme was to form a strong system for encouraging innovation in the country.

DESCRIPTION

There is a prescribed criteria for the entity to get register itself under the startup scheme. Before proceeding for the DPIIT registration we need to first understand what a startup is? A start up is a small business started with the objective to solve a problem. These are the small business entities like (companies, LLP, firms etc.) which are generally functioned by the promoters or an individual. Startups provide jobs opportunities to the people which help in the economic development of the society. Startup India defines those business that has been newly formed or has been in existence of 10 years or lesser. This has been specified for biotechnology firms that the limit is 10 years of operation from the date of registration in India and for the other industries the limit is 7 years to get recognised under startup.

This initiative of identifying and encouraging the startups are taken by our government of India. This has been done in consonance with the Make in India Campaign. By getting registration under DPIIT, the startup will get benefit of self-certification and compliance under 9 environmental & labour laws. If the entity wishes to wind up the company they can do so under 90 days under Insolvency & Bankruptcy Code 2016. Further there are multiple exemptions and/or rebates available such as:

• Tax exemption on capital gains & on investments above fair market value.
• Exemption from requirement of earnest money deposit in government tenders.
• Income tax exemption for a period of 3 consecutive years
• In case of patent and trademark filing there is rebate of fee upto predefined limit.
• Further while applying for government tenders, the requirement of minimum capital or turnover or experience has to be fulfilled by the entity as specified. But if the business entity is recognised as Start-up by DPIIT then, such entities can apply for tenders as specified even if they don’t fulfil such requirements of minimum capital, turnover etc.

Conditions required to be fulfilled for getting registration under DPIIT

• It should not be older than ten years from the date of incorporation.
• It should be incorporated either as a private limited company or a registered partnership firm or a limited liability partnership.
• Since incorporation, yearly turnover should not surpass Rs. 100 crore for any of the financial years.
• It should not have been formed by splitting up or reconstruction of already established business. New entity must be formed.
• It should have innovative business, development or improvement of products or processes or services, or it should be generating employment and creating the wealth for the economy.Benefits and rewards of the registration

Following are the benefits of getting recognised which will straightaway uplifts the startups:

• First and foremost is the tax exemption which any recognised startup can claim.
• There will be lot of income tax benefits for the period of three years.
• Save the money as well as time
• Investment exemptions can be availed.
• Concessions on all the capital gains can be availed.
• Fund by the government to help the startups.
• Self-certification and no inspection for three years.

INTRODUCTION

A Recognized startup from the inter-ministerial board is treated as an eligible business for tax exemption. Their business must involve in innovation, creation, development and deployment of new products, services or processes. With the intent to make available a competitive platform and help them in development, an eligible startup shall be allowed a deduction of taxes and other various benefits so that they can convert the business idea into fruitful business.

DESCRIPTION

India is developing and has just become the third leading startup supportive economy. It is creating step by step and will soon become the most exposed tech startup center on the planet. To support and sustain new businesses in india, the administration has declared a few projects through which they can profit benefits, one of them being the startup india program. The fundamental point of this activity is to make a situation that helps new businesses in the nation and pushes for the advancement of business people. Here’s a glance at the tax benefits these new companies can make and how they can utilize these projects to fuel their development.

Exemption under section 80IAC for startups

Section 80-IAC provides tax incentives of amount of profit that is 100 percent. It helps to start the development and provide a viable podium to startups in India.PIIT stands for Department for Promotion of Industry and Internal

Trade

DPIIT setup the inter-ministerial board whose work is to validate the startup for allowing tax related benefits. The board shall validate them for tax exemption on profits as per the section 80-IAC of income tax act. A DPIIT authority provides recognition to startup that makes them eligible to apply to the inter-ministerial board for complete tax deduction on the profits and gains rises from business. Start-up must be engaged in innovation, creation or improvement of products or services or accessible business model with a great potential of employment generation or wealth formation.

Eligibility

The entity must be newly incorporated after 01 April 2016, in the form of private limited company or a limited liability partnership. Any entity which is shaped from the practice of reconstruction then it’s not allowed here to get benefit. Turnover of the entity must not exceed 25 crore annually in the preceding year related to the assessment year for which deduction is claimed under section 80-IAC. Entity must be recognised with DPIIT.Deduction amount
Allowed deduction as per section 80 IAC of the income tax act would be 100% for 3 years income out of 7 years from the year of is registration. The intention to provide exemption is just to support small startup. A startup has to accomplish all the conditions for claiming the deduction as specified in section 80-IAC. These turnover limits for claiming deduction is not determined by DPIIT notification but section 80-IAC of income tax act mandates the provision of turnover limit.Exemption under section 56 for startups (Angel Tax)

With the intent to give more relief to new startups, indian government has decided to relax the eligibility criteria for startup and respite the norms of angel tax by increasing the turnover limit from 25 crore. This helps them to grow and make stable in economy. An entity will be considered as startup if its turnover has not more than 100 crore instead of 25 crore in any of the financial year since incorporation. Ministry of government is taking all these steps just to promote and strengthen the startup ecosystem in economy as startup plays a very significant role in GDP as well.

Deduction amount

When a startup receives any consideration upto Rs 25 crore by all the investors for the issue of shares then if these startups are recognised by DPIIT then their consideration will be exempt under section 56(2)(viib) of the income tax act. For getting exemption, eligible startups are required to file a declaration form by with DPIIT and further it will be transmit to CBDT.

Eligibility

Entity must be private limited company and recognised by DPIIT. For getting DPIIT registration one can visit the startup india portal. If the turnover of the entity for any financial year is upto the amount of 100cr then it would be treated as startup. Cumulative amount of paid up share capital and share premium after the proposed issue must not exceed 25 crore rupee in case of startup. For being eligible for exemption under Section 56(2)(viib), a startup is not required to make investment in any immovable property, capital contribution to other entities or investment amounted to more than 10 lakh rupee in any transport vehicles, make loans and advances, and in some other assets except in the regular sequence. This investment can be done in normal course of business.

INTRODUCTION

As there are problems faced by the MSME’s with respect to the funding, keeping this problem in mind, our government of India has brought up an initiative to launch the Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGS) to provide security free loans to the micro and small enterprises. Both the prevailing and the new msme’s are qualified to be covered in the scheme. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a trust established by the government of India, Ministry of Msme’s and SIDBI (Small Industries Development Bank of India) for the purpose of implementation of Credit Guarantee Fund Scheme for SME’s and MSME’s.

DESCRIPTION

There is a prescribed eligibility criteria, eligible institution for obtaining the funds, eligible credit facilities etc. MSME’s were facing a lot of issues related to the funding and non-availability of the funds in a timely manner and also high rate of interest was charged by the financial institutions. To resolve this problem our government of India in consonance with the Ministry and other regulators and institutions has launched this scheme of the Credit Guarantee Fund Scheme. This is protection specifically for the MSME’s as they are the backbone of the Indian economy. Whatever loan facility is provided the trust charges the fees for the same amounting to 1% per annum of the credit sanctioned.Benefits under the scheme

The eligible credit facilities are: providing the loan facilities of up to 200 lacs even to the entrepreneurs of Jammu and Kashmir, North-eastern states of India etc. either without collateral security or third party guarantee.
Providing of funds and composite credit schemes.

If the credit facility is up to 50 lakhs then credit guarantee is provided amounting to Rs. 75% or 80% of the credit to a maximum of 62.5 lakhs or 65 lakhs.

In case of default has been done by the borrower of the credit facilities extended by MLIs, then trust provides the guarantee of up to 50/ 75 / 80/ 85 % of the amount plus interest on such amount. Other penalty charges, service charges or any other dues are not covered under the guarantee.

Rehabilitation help is also provided by the lender (institution) but within the credit limit of 200 lacs for the units covered Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and becoming sick due to issues which are not in the control of management.

Special benefits provided to the women entrepreneurs who are running the MSME’s.Eligible MSMe’s for the scheme

All the existing as well as new MSME’s providing the business as specified under this scheme like MSME’s engaged in the activity of manufacturing, retail trade, educational or training institution, service sector etc. Now prescribed NBFC’s can avail credit facility scheme. Only 75 percent of the fund is allowed to a maximum of Rs. 50 lakhs for the period of five years. And the eligible lenders are: All the Banks and Financial institutions, scheduled commercial banks and some regional rural banks which are Sustainable Viable as classified by NABARD, Private or public sector banks, Small Industries Development Bank of India (SIDBI) etc.

Non-Eligibility

The trust has the right to reject the application for the credit facility and guarantee cover on the grounds as mentioned in the scheme. MSME’s not engaged in manufacturing activity, services and retail trade, educational or training institution are not eligible to avail this facility and if any application is received from such msme’s then the application liable to be rejected by the trust as this is the first criteria which is to be fulfilled by the msme sector.

Some survey statistics show that those startups that had a mentor performed almost 3 x better, compared to those startups that did not have one! Startup mentors are invaluable resource for a startup, and can most often be the reason for your startup’s existence.

Be it whatever stage you are in, you need that guiding force which comes in the form of a business mentor! At the same time, you will need to ensure that your mentor fits your purpose, passion and other aspects as below
value system

• business ethics
• commitment
• openness and
• responsive to feedback, etc.

Generally in India, there is no any separate law made for sole proprietorship business registration, however, you can start your business without any registration, but in the opening of bank accounts, a banker can demand following registration documents as per nature of business:

1. Shops & Establishment Act

2. GST Registration

3. MSME Udyog Aadhar

1. Minimum 2 Designated Partners

2. If a body corporate is a Partner, it has to nominate a natural person as its Nominee

3.The Partners and Designated Partners can be same person

4.There is no concept of share capital, but there has to be some sort of contribution from each Partner

5.DPIN ( Identification Number) for all the designated partners 6. Digital Signature Certificate

1. Minimum 7 Shareholders

2.Minimum 3 Directors

3. At least 1 of the Directors shall be an Indian Resident

4. The Directors and shareholders can be the same person

5. Minimum Authorised Share Capital to be Rs.5 Lacs

6. DIN ( Director Identification Number) for all Directors

7. DSC ( Digital Signature Certificates) for Directros, Shareholders & Witness

8. 1 Witness for MOA/AOA subscriber.

1. Mininum Shareholders should be 7

2.Minimu directors should be 3

3. Minimum Authorised Capital Rs.5.0 Lacs

4. It must have minimum 200 members

5. It must also ensure that net owned funds are Rs.10.0 Lacs or more- “Net Owned Fund” means the aggregate of paid-up equity share capital and free reserve as reduced by the accumulated and intangible assestes appearing in the last audited balance sheet

6. It must also ensure that the ratio of net owned funds to be deposit is not more than 1:20.

1.Societies are governed by Societies Registration Act

2.7 persons are required to form a society with no upper limit

3.Complete renewal of members is possible and objects can be modified easily

4.The legal requirements are much simpler than in the case of a trust or Section 25 companies

5.Members have to file an MOA on non-judicial stamp paper, setting out the objectives of the society before the registrar of societies in the state in which the society is set up 6.Society has a more democratic set up with membership and an elected body to manage the society. Due to democratic procedures, the society can be taken over by elements opposed to the founding members.

The GST journey in India began in the year 2017, and since then, it has come a long way in shaping our economy. All matters like registration, form filing, application for refund, etc. are taken care of by our skilled and efficient Chartered Accountants. It is our sole purpose and duty to take part in and to give way to a robust and open discussion surrounding accountable GST, increased transparency and the ensuring of taxation in an increasingly digitized and globalized world.

GST Registration

• GST Registration for new Assessee
• Regular Routine Work
• Filing of monthly and quarterly GST returns and annual compliance return
• Assistance in deposit of GST to electronic cash ledger
• Consultancy on GST on regular basis
• Refund of GST from GST Department
• Bond and Letter of Undertaking (LUT) related work for Exporters

Requirements

1.Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax, etc.

2.Businesses with turnover above the threshold limit of Rs. 40 Lakhs (Rs. 20 Lakhs for North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand)

3.Casual taxable person / Non-Resident taxable person

4. Agents of a supplier & Input service distributor

5. Those paying tax under the reverse charge mechanism

6. A person who supplies via e-commerce aggregator

7. Every e-commerce aggregator

8. Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

1.Any FBO with an annual turnover of not more than Rs. 12 Lakhs.

2.Petty retailer dealing in food products

3.Any person who manufactures or sells any food article by himself

4. Food sale is done by the temporary stall holder

5.Any individual who distributes food in any religious or social gathering except a caterer

6.Small-scale or cottage industries dealing in the food business

1.Suitable For Both Small And Large Organisations

Standards make market access easier, in particular for SMEs. They can enhance brand recognition and give customers the guarantee that the technology is tested and reliable. ISO registration is as effective for small organizations as it is for large organisations reaping major benefits. Your business generally becomes more efficient and productive, giving you an edge over your competitors. You can also enjoy marketing benefits from ISO certification because you can reassure customers that your business follows the highest quality standards

2.Increase In Efficiency, Productivity And Profit

ISO International Standards help businesses of any size and sector reduce costs, increase productivity and access new markets. For small to medium sized enterprises (SMEs), standards can help to: Build customer confidence that your products are safe and reliable, Meet regulation requirements, at a lower cost, Reduce costs across all aspects of your business, Gain market access across the world

3.Improved Customer Retention And Acquisition

ISO Certification is the proof to your stakeholders, customers and staff that you keep your promises, that you provide consistent, reliable and fit for purpose solutions, Issues are identified and resolved quicker, in many cases without the customer even knowing, Improve the customer / supplier relationship by responding proactively to customer feedback and also the time and cost is saved for both the organization and customers. Customers are far more likely to contact a company if it uses an ISO 9001 logo in the marketing of its products

4.Better Internal Management

Through ISO certification there is benefits increased for the staff and employees which increases job security through enhanced business performance, Improves job satisfaction as employees are clear about what to do and how it is to be done, Boosts morale and motivation through improved training capabilities. Better utilisation of your time though improved resource management

5.Consistent Outcomes, Measured And Monitored

ISO certification helps to improve the credibility of business with a current & new client which leads to creating niche market for business. ISO certification implementation enhances functional efficiency of an organisation. ISO certification agency helps you develop SOP’s & work Instructions for all your processes. ISO implementations help to manage the resources effectively, as you become able to utilize all your resources to its maximum extent

6.Globally Recognised Standard

ISO was founded with the idea of answering a fundamental question: “what’s the best way of doing this?” It isConsistent, transparent, targeted. ISO standards have a lot in common with the principles of better regulation. Developed through the consensus of globally established experts, regulators and governments count on ISO standards to help develop better regulation. Not only do they help save time, they are essential tools for reducing barriers to international trade.

ESI registration is mandatory once a company or any other entity employs 10 or more low-earning employees i.e. less than Rs.21000.00.The ESI scheme provides tremendous benefits to the employees and has a large network of dispensaries, and hospitals throughout the country for facilitating fast and efficient medical care. All entities are required to mandatorily apply for the ESI registration within 15 days of the ESI Act, 1948 becoming applicable to them. After the registration ESI Returns have to be filed twice a year.

The following documents are required for the filing of the returns:

1. Register of Attendance of the employee

2. Form 6- Register

3. Register for wages

4. Register of any accidents which have happened on the premises of the businesses and

5. Monthly returns and challans

Indian Patent Law follows first to file system. A provisional application is an application which can be filed if the invention is still under experimentation stage. Filing a provisional specification provides the advantage to the inventor since it helps in establishing a ―priority‖ date of the invention. Further, the inventor gets 12 months‘ time to fully develop the invention and ascertain its market potential and to file the complete specification.

NSIC Registration is also known as single point registration. As we know that governments are major buyers of various products. Government procurement is being carried out with tender process so NSIC is the playing role of mediator between governments and sellers.

This certificate is enabling to the seller to sold the goods to the different government agencies.

Benefits of the NSIC Registration:

• Issue of the Tender Sets free of cost;
• Exemption from payment of Earnest Money Deposit (EMD);

In tender participating MSEs quoting price within price band of L1+15 per cent shall also be allowed to supply a portion upto 25% of requirement by bringing down their price to L1 Price where L1 is non MSEs.

Every Central Ministries/Departments/PSUs shall set an annual goal of minimum 25 per cent of the total annual purchases of the products or services produced or rendered by MSEs. Out of annual requirement of 25% procurement from MSEs, 4% is earmarked for units owned by Schedule Caste /Schedule Tribes and 3% is earmarked for the units owned by Women entrepreneurs.

In addition to the above, 358 items are also reserved for exclusive purchase from SSI Sector (List is given below in download section).

Validity Period of G. P. Registration

The Registration Certificate granted to the Micro & Small Enterprise under Single Point Registration Scheme (Revised), 2003 is valid for Two Years and will be reviewed and renewed after every two years by verifying continuous Commercial and Technical Competence of the registered Micro & Small Enterprise in manufacturing / producing the stores for which it has been registered by NSIC.

Note: The registration Fee is based on the Net Sales Turnover as per latest audited Balance Sheet of the Micro & Small Enterprise for the Registration, Renewal and any other amendment etc