GST Software

Startup India is a national campaign aimed at boosting the spirit of entrepreneurship in the country. According to the government of India, a startup is an entity that is in business for less than 7 years, has a turnover of less than 25 crores and is headquartered in India. The government has made an action plan that is aimed at encouraging bank financing for startup ventures and encourage startups with job creation. It is focused on removing the hurdles that come in the way of creating a developed startup. The scheme was announced by the prime minister on his 15 August address from the Red Fort. The government wishes to make home grown startups that will put India on the global map and provide employment for millions of unemployed in the land. The scheme is an encouraging one and with additional incentives for the lower caste which include SC and ST. During an event promotion of April 5 the subsequent year, the prime minister launched additional benefits for backward caste and al...

Startups are the spotlight of today. Entrepreneurs are the talk of the town and have the same aura as some of the actors. They feature on magazine covers and earn millions within a few minutes. The new age businesses are getting more attention and the governments is also encouraging the process on its part by taking initiatives and making schemes like Startup India which aims to capture the spirit of entrepreneurship in the country. They have made lives easier and millions of people use their services making them widely popular in the process. They are creating hundreds and thousands of new jobs and putting India on the global map. Last year India ranked third on the list with most startups after the mighty Americans and the royal British. Startups have touched the core of young India and from taking rides in Ola to ordering products on Flipkart, our own homegrown startups are a part of our regular lives. But they are not fool proof and several steps must be taken to ensure that th...

The launch of ‘Startup India, Stand up India’ has opened up opportunities for the wannabe entrepreneurs and many of them are waiting for their wings to spread out. They want their ideas to float in the world and they are waiting to showcase what they have got. They must be willing to take the entrepreneurial leap and start their own ventures. But the most experienced professionals will tell you that it is a tricky choice to be an entrepreneur. There are many things that you have to take along and think about to succeed. There is an equally lengthy list of things you must NOT do at any cost if you want your venture to survive. So in a bid to empower the budding entrepreneurs, viable and most informed business decisions are to be taken. Here are a few things that you need to avoid like a plague if you want your venture to succeed. 1. Half prepared entry This is one of the most elementary mistakes a budding entrepreneur can make. You need to keep certain factors to ensure that you a...

How can you compare India to Silicon Valley? There is similarity in what is happening in India today to what was happening in the US a decade ago. Startups were starting to grow in the US at that time and this is the same phase India is going through at this moment of time. India is moving ahead with its entrepreneurial scene phenomenon. But is India becoming like Silicon Valley. This one is a difficult one to answer. We can say that India is emerging with its startup cult but it is not safe to compare it to the technological paradise, Silicon Valley. It will be unfair to say that India is becoming like Silicon Valley. We are in development stage and stand fourth in the number of startups only after the US, UK and Israel. So it is safe to say that India is emerging as a startup hub. Entrepreneurship and technology are becoming global phenomenon and are spreading like a global virus throughout the globe. The Silicon Valley is not only the hot sun but it’s becoming bigger and bigge...

India needs a revival and that didn’t seem to happen until the startups came in. India needs 10 million jobs a year and data shows that it is the startups that come to the aid for creating new jobs in the country. Most of the new jobs are created by the startups. They are also the centres of innovation. Thus, with innovating new things, startups are a great way to enhance employment opportunities. They also bring in the technological enhancement they bring to the country. This leads to a value addition which in later times yields more employment opportunities. With more startups coming up India can aspire to be the world leader all the people want it to be and not only remain a cheap outsourcing destination for cheap IT services. Startup companies are the most dynamic individual companies since they bring new competitive dynamics in the economic system. They bring competitiveness in the market. Therefore, the economy stays healthy, vital and diligent. Startup companies are vital be...

Everyone loves startups. Who doesn’t? I mean they have opened the doors of possibilities to make life easy and comfortable and do things that couldn’t have been done had those startups not been present. They have made the never thought before things easy to do. They have created demand for things that never existed. Now they have become more of a ‘need’ than a ‘want’. Millions of Indians use them use these apps on persistent basis and now you need not sweat it outside to get things done. All can be done from home with the internet. Almost everything can be delivered at your doorstep at easy. India has slowly been switching from the traditional business to these startups. Talking about The Fault in Our Startups, there is a flaw that no one seems to have sorted and I still cannot wrap it around my head how no one has raised any argument about that. If it is fixed, it would open doors for a new customer data base and would raise the revenue exceptionally. So what do all the big startu...

Entrepreneurship is traditionally thought of as the process of designing, launching and efficiently running a business idea. Entrepreneurs start by offering a new product, service or process at a small scale and gradually wish to reach a wider section of society and rake in positive reviews and hefty revenues. The people who create such kinds of offerings are called entrepreneurs and considered the next gen superheroes. Whenever a new kind of product is offered, it usually has some novelty attached to it and that is one of the aspects that helps them to make it big. Be it the idea or the quality of service, the design, logo, packaging whatever it is that makes it a hit with the people and makes it a brand in the longer term. However, in order to remain catchy, it must be exclusive to the company and in order to be that way, it must be protected and at this point in time he thinks about getting a trademark or a copyright on the product. So as soon as the idea is conceived and he t...

Ever thought of patent trolls and how they can affect your business? No. Let’s find out. Suppose you create an amazing product through a brilliant idea & the right execution but all of a sudden you are slapped with a frivolous lawsuit of patent infringement and you have no idea what they are talking about. Or think of it this way. You created an amazing app that is running high on android. Your app is paid and you are rapidly increasing in value but some lawsuit claims that you have used the payment method without their permission and now you can either pay them a litigation fee or they can drag it out in court which will affect your reputation as well as cost you a hell lot of money. And there is a little option that you have. A patent troll is type of business which does not use the patent that it is granted and does not think about doing anything with the patent but instead goes around buying old patents and then sue people using those services for far beyond the actual valu...

Starting a business be accompanied by potential legal issues that are often overlooked by the first time entrepreneurs. Many details seem worthless in the start and don’t seem to be pressing at the start and can mean the difference between success and failure. As they say, ‘ well begun is half done’. If there are legal issues in the beginning, it can lead to downfall in the later stages of the company. Here are the 5 common legal mistakes entrepreneurs make: 1. Making handshake deals with clients and vendors Never take anyone’s word for granted. Always put pen to your deals. Don’t naïvely assume that everyone will work in good faith and everything will go as per the plans. This is often not the case when things go wrong. The entrepreneurs and the vendors and clients are different people with different thought processes and different things might be going on in their minds. Keep a written record for every dealing you make. 2. Choosing the wrong business structure Whether yo...

Understanding copyright law can be a daunting task. It can be confusing for business owners but the costs of copyright infringement can be quite high. You can be asked to pay a huge fine for using someone’s intellectual property without asking them. There is a heavy penalty for copyright infringement. You might have great idea and you might want to protect your work and safeguard it. Here are the 7 biggest myths business owners believe about using copyrighted material that can help you plan: 1. I can use small amount of copyrighted material without a problem. There is no safe percentage or portion of work that can be copied without permission. Using even a few seconds of songs or few lines of text without prior permission can be termed as copyright infringement. And for this the person involved in copyright infringement can be heavily penalised. 2. I can copyright my idea. Copyright protects original works of authorship in a tangible medium of expression. Books, music, soft...

Is it mandatory to register a company before starting a business in India? No, it ain’t! You need not do it. There are many other ways to start a business in India that most of the people are not familiar with. The simplest way to start your own business is to acquire a tax license. There are several others ways to do it. Registering a company in India is not always a good idea in this part of the world. Here are the 5 reasons why you should not register a company in this part of the world. 1. Costly Affair A startup already has limited funds and it would not like to waste them by company registration. Since it has many ideas and limited money, it would focus on value addition. Using that money in company registration is a poor idea as it is a costly affair. This will also further annual compliances and the penalties that come along make it worse. 2. Complexities of Companies Act Once you are registered as a company, then you have to follow the stringent and binding provision...

Patent is a form of intellectual property which is a set of exclusive rights provided by a nation to an assignee or investor for a short period of time in return for public disclosure of his invention. The rules and regulations that govern the process of granting a patent vary from one country to other according to national laws as well as international agreements. However, obtaining a patent has several restrictions and thus some standards must be met in order to secure it. The patent claims must meet relevant requirements such as usefulness, non-obviousness and foremost novelty. A patent on a technology prevents others from making, using, distributing, importing, selling it without the permission of the inventor. Obtaining a patent on your novel invention is an obvious step but there are several steps that must be kept in mind while giving it a go ahead. Evaluate your idea Before you decide to launch your patent, think about all the possibilities attached with your product. Y...

A patent is a set of rules and regulations which gives the owner the rights to prevent others from making, selling, distributing or importing without the permission of the owner. Patents are awarded by the government and are affected by national laws and international treaties. They can be awarded to investors, individuals, groups or corporations. As a patent is exclusive, it comes with several limitations. First of all, there are two types of patents, a provisional patent, which comes with an expiry date which is usually one year, the second kind is utility patents whose existence depend upon the negotiations between the authority and the value that comes with the product. There are a few things that must be kept in mind while filing for a patent because some unnecessary negligence on your part may make your patent process unfruitful. Evaluate the eligibility of your idea It is easy to obtain a patent if your idea is a machine, a process, a manufactured product or an improveme...