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How to register for service tax in India

Service tax is a kind of indirect tax, which means its charged on the goods and services your business provides and not on the profit you make.  Service tax registration is necessary only when the value of services your business provides exceeds 9 lahks in the year. When your turnover crosses 10 lakhs, you must start charging service tax on …

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What is INC29 and How to Fastrack your company Registration in India

INC-29: Single-Form Company Registration The business of starting a company is finally about to get easier for Indian entrepreneurs. This is on account of the introduction of an integrated form, known as INC-29, which could reduce the processing time for company registration to as little as 48 hours according to the MCA. While this is unlikely to be fulfilled, for …

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What are the Taxes an Ecommerce Startups has to pay

What taxes do I need to pay and what taxes are the manufacturer’s liability? Moreover, on which amount should I (and the manufacturer) pay the taxes? E-commerce is the buzzword nowadays. Because of the convenience it offers of buying things sitting in your home or office it is becoming increasingly popular. Many big and small companies are riding on the …

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How to Apply for Importer Exporter code Online


Simple Steps to apply for IEC (Importer Exporter Code) Online. Before going ahead you can read this What is and How to start a Import Export Business in India What is IEC Code ? IMPORTER EXPORTER CODE ( in short IEC ) is a ten digit number granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, …

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How to Start an Import export Sole Proprietorship business in India


We have much covered already on Sole Proprietorship which you can check out here http://www.startupfreak.com/tag/sole-propreitor/  And if you wish to start your business in import export sector then this section will be of help What is Import/Export Business ? Import/Export Business also called as International trade is the exchange of capital, goods, or services across international borders or territories.  As the owner …

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What is the difference between Trademark, Copyright and Patent


When you start a new business, you are essentially creating something new unless it is a franchise or rented business. And if you have created it from scratch you would also like to protect it from being copied or take advantage of by other business entities/individual. According to the Universal Declaration of Human Rights, “everyone has the right to the …

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What is Service Tax Registration and who should pay it in India


As on 1st May, 2011, 119 services are taxable services in India. These taxable services are specified in Section 65(105) of the Finance Act,1994. And there are 17 specific services which are exempt from service tax mentioned in the Negative List .Service tax is applicable  to the whole of India, except the State of Jammu & Kashmir. What is Service Tax Service …

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What is Excise Duty and its Types

Collection of revenue is very important for functioning of any government and is prevalent since time immemorial. Different types of taxes are imposed by government viz income tax, corporate tax, property tax, sales tax, excise tax, custom tax, and service tax. These taxes help government to run administration to meet socio-economic objectives of government What is Excise Duty ? Excise …

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How to open Current Account in a Bank as Sole Proprietor


How to get a current bank account for my business? This is the Query we get almost everyday, so thought lets put some light on it. First of all its not mandatory to have a current account if you are doing business, its just that if your business handles lot of cash or handles lot of transactions per day or …

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What is, Why to, How to Trademark Registration in India – Simplified


If you have started business and have stared getting market for your product then you will want to know what is Trademark and Why to and How to apply for it. Before investing in  advertising and running big campaigns it is recommended to file your trademark / servicemark in India. You are protected the moment you submit your application for trademark …

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