Step by Step Guide for GST Registration

Step by Step Guide for Registration as a Tax Collector on the GST Portal

Step by Step Guide for Registration as a Tax Collector on the GST Portal with Screenshots. How to Register as Tax Collector at GST Portal www.gst.gov.in. All you need to know about Online GST Registration as Tax Collector at GST Portal. GST New Registrations are started from 25th June 2017 (25-06-2017), Here we provide detailed guide for Online Registration as Tax Collector (E-commerce) at GST Portal with Screenshots…check more updated from below…

How can I apply for Registration as a Tax Collector at Source?

What are the steps involved in applying for Registration as a Tax Collector (e-commerce) on the GST Portal?

For registering yourself as a Tax Collector on the GST Portal, perform the following steps:

1. Access the https://www.gst.gov.in/ URL. The GST Home page is displayed.

2. Click the REGISTER NOW link.

Alternatively, you can also click Services > Registration > New Registration option.

3. The New Registration page is displayed. Select the New Registration option.

4. In the I am a drop down list, select the Tax Collector as the type of taxpayer to be registered.

5. In the State/UT and District drop down list, select the state for which registration is required and district.

6. In the Legal Name of the Tax Collector (As mentioned in PAN) field, enter the legal name of your Tax Collector as mentioned in the PAN database.

7. In the Permanent Account Number (PAN) field, enter PAN number.

Note: In case you don’t have PAN, you can apply for PAN. To do so, click the here link.

8. Legal Name of the Tax Collector and PAN will be validated against the CBDT database.

9. In the Email Address field, enter the email address of the Primary Authorized Signatory.

10. In the Mobile Number field, enter the valid Indian mobile number of the Primary Authorized Signatory.

Note: Different One Time Password (OTP) will be sent on your email address and mobile number you just mentioned for authentication.

11. In the Type the characters you see in the image below field, enter the captcha text.

12. Click the PROCEED button.

After successful validation, you will be directed to the OTP Verification page.

13. In the Mobile OTP field, enter the OTP you received on your mobile number entered in PART-A of the form. OTP is valid only for 10 minutes.

14. In the Email OTP field, enter the OTP you received on your email address entered in PART-A of the form. OTP is valid only for 10 minutes.

Note: OTP sent to mobile number and email address are separate. In case OTP is invalid, try again by clicking the Click here to resend the OTP link. You will receive the OTP on your registered mobile number or email ID again. Enter both the newly received OTPs again.

15. Click the PROCEED button.

16. The system generated 15-digit Temporary Reference Number (TRN) is displayed.

Note: You will receive the TRN acknowledgment information on your e-mail address as well as your mobile number. Note that below the TRN the expiry date of the TRN will also be mentioned. Click the PROCEED button.

Alternatively, you can also click Services > Registration > New Registration option and select the Temporary Reference Number (TRN) radio button to login using the TRN. 

PART B:

1. In the Temporary Reference Number (TRN) field, enter the TRN generated.

2. In the Type the characters you see in the image below field, enter the captcha text.

3. Click the PROCEED button. The Verify OTP page is displayed. You will receive same Mobile OTP and Email OTP. These OTPs are different from the OTPs you received in previous step.

4. In the Mobile / Email OTP field, enter the OTP you received on your mobile number and email address. OTP is valid only for 10 minutes.

Note: OTP sent to mobile number and email address are same.

In case OTP is invalid, try again by clicking the Click here to resend the OTP link. You will receive the OTP on your registered mobile number or email ID again. Enter the newly received OTP again. 

5. The My Saved Application page is displayed. Under the Action column, click the Edit icon (icon in blue square with white pen).

Note:

• Notice the expiry date shown below in the screenshot. If the applicant doesn’t submit the application within 15 days, TRN and the entire information filled against that TRN will be purged after 15 days.
• The status of the registration application is ‘Draft’ unless the application is submitted. Once the application is submitted, the status is changed to ‘Pending for Validation.’

6. The Registration Application form with various tabs is displayed that must be filled sequentially. PART-B of the form has four sections that must be filled sequentially.

On the top of the page, the four tabs are displayed – Business Details, Authorized Signatory, Office Address of Tax Collector, and Verification. Click on the relevant  tab to enter the details.

Charging and Collection of Tax under CGST Act 2017

Business Details tab:

The Business Details tab is selected by default. This tab displays the information to be filled for the business details required for registration.

a) In the Trade Name field, enter the trade name of your business.

Note: Trade name of the business is different from the legal name of the business.

b) In the Constitution of Business drop-down list, select the type of constitution of your business. This will be validated with the CBDT Database for a match with the PAN entered in Part A of the form.

c) Select the Date of Liability to Deduct / Collect Tax using the calendar.

d) In the District drop-down list, select the district of your business.

e) In the Sector/ Circle / Ward/ Charge/ Unit drop-down list, select the appropriate choice.

f) In the Commissionerate Code, Division Code and Range Code drop-down list, select the appropriate choice.

g) Click the SAVE & CONTINUE button. You will notice a blue tick on the Business Details section indicating the completion of the tab information and notice the Profile indicating the percentage completion of the application form. 

Authorized Signatory tab:

This tab page displays the details of the authorized signatory. You can enter details of up to 10 authorized signatories, enter all the details of the authorized signatory and click SAVE AND CONTINUE at the bottom of the screen.

Office Address of Tax Collector Tab:
The third section is the Office Address of Tax Collector. Please enter the following details:

a. Address
b. Contact Information
c. You must also enter details of any other GST Registrations in the same state if applicable
d. Nature of Possession of Premises (to be selected from the dropdown)
e. Upload the supporting document in the prescribed format for proof of Nature of Possession of Premises
f. Click SAVE AND CONTINUE.

Verification tab:

This tab page displays the details of the verification for authentication of the details submitted in the form.

• a) Select the Verification checkbox.
• b) In the Name of Authorized Signatory drop-down list, select the name of authorized signatory.
• c) In the Place field, enter the place where the form is filed.
• d) After filling the enrolment application, you need to digitally sign the application

using Digital Signature Certificate (DSC) or E-Signature. Submission of application with the details is NOT completed unless DSC or E-Signature is affixed.

Note:

• For E-Sign and EVC you must update your Aadhaar number in the Applicant Details section.
• After submission, you cannot make any changes to your application.

In Case of DSC:

• a) Click the SUBMIT WITH DSC button.
• b) Click the PROCEED button.

Note:

• Make sure your DSC dongle is inserted in your laptop/ desktop.
• Make sure emSigner (from eMudra) is running on your laptop/ desktop with administrator permissions.

To check if the emSigner is running on your laptop/ desktop, perform the following steps:

• 1. Click the item tray.
• 2. Double click the emSigner icon.
• 3. Click the Hide Service button to minimize the dialog box.

g) Select the certificate and click the SIGN button.

Note: To view the details of your DSC, click the View Certificate button.

You will receive the acknowledgement in next 15 minutes on your registered e-mail address and mobile phone number. Application Reference Number (ARN) receipt is sent on your e-mail address and mobile phone number.

You can track the status of your application using the Services > Registration > Track Application Status command.

Impact of GST on Indian Economy

In Case of E-Signature:

e) Click the SUBMIT WITH E-SIGNATURE button.

f) Select the checkbox for declaration..

Note: OTP will be sent to your e-mail address and mobile phone number registered with Aadhaar.

g) Verify Aadhaar OTP screen is displayed. Enter the OTP received on your e-mail address and mobile phone number registered with Aadhaar.

h) Click the CONTINUE button.

The success message is displayed. You will receive the acknowledgement in next 15 minutes on your registered e-mail address and mobile phone number. Application Reference Number (ARN) receipt is sent on your e-mail address and mobile phone number.

In Case of Electronic Verification Code:

a) Click the SUBMIT WITH EVC button.

b) Enter the OTP sent to email and mobile number of the Authorized Signatory registered at the GST Portal and click the VALIDATE OTP button.

Note: OTP will be sent to your mobile phone number registered with Aadhaar.

c) Verify OTP screen is displayed. Enter the OTP received on your mobile phone number registered with Aadhaar.

d) Click the CONTINUE button.

Flipkart gearing up to deal with the GST bill

The Indian offline and online retail ecosystem will be strengthened and organized with a comprehensive roll out of policies such as FDI and GST. The recently passed Goods and Services Tax bill is expected to address several key issues faced by e-commerce companies today.

In India, the e-commerce segment has successfully attracted customers by throwing away products at discounted rates. Moreover, by conducting regular shopping deals, the companies managed to catch the attention of customers. Moreover, the government has pushed smaller companies to regain space in the online sector with Digital India initiatives.

Flipkart made changes in the pattern for GST

According to sources, Flipkart has formed a core group to study the implications of GST. Moreover, the company has made few refreshed changes in the overall working patterns as per the guidelines framed by the government.

Detailed to-do list for the GST framed

As per reports, Flipkart has framed a detailed to-do list for the GST mandate, which the company is planning to rollout in April 2017. It showcases the modifications made the management around the various operational aspects which include training across the network of sellers on its platforms.

Responding to media, a spokesperson of Flipkart disclosed that the main priority of the company over the next few months would be to make the required changes to its ERP system.

Flipkart to provide training for sellers and internal staff

Moreover, the company has reportedly established partnerships with consultants to provide training for both sellers and internal accounting staff. In the meantime, the company will also actively engage with the government during deliberations in the law-making process.

According to proposed GST guidelines, each and every online marketplace should collect taxes at the source and pay it on behalf of registered sellers on their platform. However, this is a significant roadblock for many e-commerce companies because they lack clarify on the aggregators versus the operator’s model. As per the newly launched GST policy, aggregators need not have to pay tax while operators have to.

Meanwhile, Flipkart is gearing up to open a new warehouse in Lucknow. With this, the company will have a total of 18 fulfillment centers across India. Flipkart also hired 1000 temporary employees to cater to the demands of the large section of people due to the upcoming Big Billion Days and festive season.

Impact of GST on Traders

On October 14th, 2016 the Confederation of All India Traders (CAIT) signed an MOU with Tally Solutions in order to train their member businesses – roughly 6 lakh traders all over the country, on the subject of GST. While the focus is largely to enable the trading community to appreciate and accept the importance of digital technologies, this association will serve as a guiding light to traders all over the country as we have embraced GST from 1st July.

The fact that one of the largest trading associations in the country has chosen to educate themselves a full 8 months in advance, goes on to show the impact GST is bound to have on the millions of traders in the nation. Here’s understanding in a little more detail, how life will change for a trader post GST.

Points of Delight

Increased threshold limit for registration

In the current indirect tax regime, INR 5 – 20 lakh is the threshold limit for VAT registration in most states. In Goods and Service Tax, a unified threshold limit of INR 10 lakhs for special category states (Uttarakhand, Himachal Pradesh, Sikkim and the 7 NE states) and INR 20 lakhs for rest of India will come about – which means that more number of traders are expected to get tax relief. This will especially help the case of start-ups and new businesses, who can leverage on the increased limit, to concentrate more on setting up the business, rather than take the tension of compliance in the early days.

Composition levy increased

In the current system of indirect taxation, the composition scheme levy is INR 50 Lakhs in most states. In recently held GST council meetings, the proposed composition threshold limit was increased from INR 50 lakhs to INR 75 lakhs, while that for Special Category States remained at INR 50 lakhs. For any trader, this extra margin of INR 25 lakhs is definitely a huge positive sign, as all he would need to pay is a floor rate of 1% GST computed on his turnover or 5% GST if he is running a small restaurant. Also, more good news might await the Indian trader – as per the recommendations of the GST council, the government may further increase the threshold limit of 75 lakhs to a maximum of 1 crore.

Availability of ITC for Excise

Currently, most traders across the country have only VAT registration, and are not registered under excise. As a result, a trader is not eligible to take Input Tax Credit (ITC) for excise, which is ultimately passed on by him as cost to his buyer, leading to increased costs. Post GST, the cascading effect of taxes will be eliminated – as CGST will be levied as an equivalent of excise. Since the full credit of input CGST will be available, there will be an unrestricted flow of ITC across the chain. An SME can thus utilise the same to off-set his tax liability – all, with a single registration itself.

Availability of ITC for input services / business expenses

Currently, traders were not allowed ITC on tax paid for input services which were utilised in the course of business. In GST however, the concept of “furtherance of business” has been introduced, whereas a trader can avail ITC on services utilised in the course of business such as advertising services, promotions etc. This will boost his profitability and have a positive impact on his working capital as well.

Full and immediate ITC on purchase of capital goods

Currently, the ITC against the purchase of capital goods, is not immediately available to the trader, and that too, it is available for only some specified capital goods. In most of the states, the ITC is made available in the form of instalments spread across several months; in others, the ITC is available only when the capital goods are put to business use. However, once GST comes, the treatment of capital goods and goods for trade will become the same, and full ITC will be available on the purchase of capital goods itself – again something that will have a positive impact on a trader’s profitability. The only notable exception would be motor vehicles, on which ITC cannot be availed, unless used for providing taxable services – such as transport of passengers or goods or imparting training on motor vehicles.

Opening up of markets across India

In the current scenario, sale and purchase of goods within the state are preferred compared to transacting with suppliers and customers across other states – primarily because of the inability of the buyer to claim ITC on the CST paid, leading to increased price for the end customer. However in the GST regime, CST will be replaced by IGST, the credit of which will be available seamlessly, thus placing both inter-state and local traders on the level playing field. Another additional advantage will be the removal of entry taxes, as goods cross state borders. What this will do is ensure that good quality products being manufactured in one part of the country will find markets in the farthest part of the country – opening up India as a common market for all traders.

Points of Caution

Blockage of ITC due to non-compliance by supplier

In the GST regime, compliance in general and ITC in particular will be dependent on invoice level information – as invoice matching will be the key to avail the correct ITC. One of the genuine concerns hitting the trader under GST, will be the scenario of non-payment of tax by his supplier. As per the GST law, a recipient will get his due ITC, only if his supplier has uploaded all the correct sales invoices, which is matched and acknowledged by the recipient; and, any missing purchase invoices uploaded by the recipient are also similarly matched and acknowledged by the supplier. In short, if a supplier chooses to default, this will lead to loss of ITC for the trader. Ideally, this will lead to ‘compliant’ traders not dealing with ‘non-complaint’ ones – but at the cost of a one-time loss of tax credit. However, traders can potentially avoid such scenarios, by effective vendor management in advance – identifying vendors who will be compliant, and keeping a watch out for credit rating before doing business with any entity.

Stock transfer becoming a taxable event

In the current regime, stock transfers are not taxable – provided Form F is furnished, VAT is not charged. However, input VAT credit is reversed at a certain percentage (4% in most states), and the rest is available as credit to the trader. In the GST regime, stock transfer will become a taxable event. While the tax paid will be available fully as credit and also, there will be no need for credit reversals – this will have an impact on the working capital. This is because, for the tax paid on the date of the stock transfer, the ITC is available only when the stock is liquidated by the receiving branch. Thus, in case the logistics planning is poor, leading to overstocking at branches, working capital will be blocked for a long time – a direct challenge for SMEs who operate with thin working capital. With the seamless availability of credit on inter-state purchase and effective removal of state business boundaries going forward, there could be a potential reduction in the number of branches / warehouses – as they would exist solely for operational reasons rather than for compliance. This could lead to reduction in stock transfers, which will of course nullify the impact of stock transfer on the working capital of a trader.

Compliance activity and costs

On the face of it, compliance activity for a trader will seemingly go up under GST – 4 VAT returns per year (quarterly) in some states to 12 VAT returns per year (monthly) in some, will be replaced effectively by 37 returns per year (3 monthly and 1 annual) in the GST regime. However, if we analyse the current compliance activity – it is usually submission of monthly returns via forms, followed by submission of annexures with details of sales / purchase transactions to calculate the correct ITC. Thus, the activity per say remains the same, even when GST comes in. However, the depth at which the activity will be done will be more under GST, as all transactions will need to be matched and filed accurately for the right compliance to happen, and the right ITC to be availed. The complexity only increases if one has operations across states, since each state will require a separate registration. Service providers are bound to bear the brunt of this change as they shift from a centralized service tax regime to a decentralized supply of services under GST. Traders, will thus need to invest in the right GST software and technology to ensure that the work gets done accurately, yet timely – which of course, will entail additional costs.

Points of Contention

E-Commerce

For traders on e-commerce platforms, GST certainly brings cost reductions in the form of availability of input credit and the levy of a single tax on supplies across the nation. It is expected that it will be easier to do business in the GST regime with greater clarity on the treatment of e-commerce transactions and uniformity in the taxes levied. However, traders must also be prepared for the impact on their cash flows – due to tax collection at source (TCS) by e-commerce operators, non-compliance by their vendors and payment of taxes on a monthly basis. Most importantly, compliance activities will also increase for e-commerce traders in the GST regime due to mandatory registration; in short, they cannot opt for composition levy even if their aggregate turnover is less than INR 75 Lakhs. Awareness of the compliance requirements under GST, proper training of resources to handle these requirements and use of technology to make all this easier will ensure that e-commerce traders can capitalise on the new era of e-commerce in India.

Reverse Charge

Under VAT, on purchases made from unregistered dealers, the recipient (registered dealer) of goods has to pay a tax called Purchase Tax. Under GST, the same concept has been retained by the Government under the name of Reverse Charge – primarily to ensure, that the tax is collected on the sale of goods or supply of services from various unorganised sectors. Under this, the liability to pay tax rests with the recipient. This is applicable on specific supply of goods and services, specified by the Government. However, a person liable to pay taxes under reverse charge mechanism will require mandatory registration.

E-way Bill

In the GST regime – while, there will be a minimization of trade barriers as the corresponding taxes would have been subsumed under GST, the implementation of the same will be easier said than done. Under GST, a registered person who intends to initiate a movement of goods of value exceeding INR 50,000 will need to generate an e-Way bill. While the intent is to unify the Indian market and assist smooth flow of goods, the entire process is cumbersome. It requires participation by the supplier, the transporter and even the recipient – who has to communicate his acceptance or rejection of the consignment covered by the e-way bill within a short span. Thus, there is a fair chance that whatever savings are generated by virtue of reduced inventory costs, may get evaporated while covering compliance and associated technology implementation costs. However, once the initial barriers have been crossed and with greater adoption of technology, the current logistical complications are expected to reduce over a period of time. As such, the government has decided to stall the implementation of e-way bill, till the systems are ready, as per the recent notifications.

Conclusion

All in all, GST is good news for the trading community. As long as a trader smartly manages his business ecosystem, efficiently manages his supply chain and stays GST compliant – he will continue to reap benefits under GST. However, technology will surely be a game-changer in this regard, as this will be the only way the compliance burden of GST can be effectively absorbed, translating into more business benefits for the Indian trader.

How GST will operate in India? Your quick guide to our new tax reform

GST is one of the most revolutionary tax systems to be rolled-out in the country. However, as with all tax things, there exists some confusion like division of taxation powers between the Central and State government. But, producers and manufacturers believe it would make the entire taxation system more fair, transparent and efficient. This blog throws light on how GST will operate in India.

Indian government is set to implement dual GST tax system, which would be administered at both Central and the State Government levels. Dual GST will comprise of SGST (collected by the State government), CGST (collected by the Central government) and IGST (collected by the central government on inter-State supply of goods and services).

Under the new levy, a transaction of sale within the state shall have the following taxation structure:

1. SGST, collected by the State government
2. CGST collected by the Central government
3. Sale from one state to another shall have only one type of tax i.e., IGST collected to the Central government.

Now let us look at how GST will operate in India with a simple example.

1: Sale and resale within a state

Suppose goods are being transported from Mumbai to Nagpur. As the sale took place in the same state, both SGST and CGST will be levied on the goods. Thus, the tax amount will go to both Central as well as State government. Now if the goods are resold from Nagpur to Nasik, the sale is again within the state thus, CGST and SGST will be applicable on the goods. Talking about resale, input credit of SGST and CGST is claimed, whereas the remaining taxes go to both the governments. For a graphical illustration, refer the below diagram.

Since the Input Tax Credit comes from the same government, which is also entitled to receive the output tax, there is no question of credit transfer within both the governments.

2: Sale within the state and resale in another state

Suppose goods are moving from Mumbai to Pune. As the sale is within the state, SGST and CGST will be levied on the goods. Therefore, tax will go to both State as well as Central government. Now if the goods are resold from Pune to Amritsar (Maharashtra to Punjab), IGST comes into play and will be levied on the goods. In this case, only Central government will collect the tax.

Here, both the input taxes are taken as credit against IGST. Here, SGST did not go to the Central government, but the credit was claimed thus, in such cases, State government would have to compensate the Central government by transferring the credit to them.

3: Sale outside the state and resale in the same state

Suppose goods are moving from Mumbai to Bhopal. Now is an interstate sale, IGST will be levied on the goods and therefore, tax will be collected by Central government only. Later, if the goods are resold from Bhopal to Gwalior. Now this it is a sale within the state SGST and CGST will be levied. Hence, both State as well as Central government will collect tax.

In this particular example, 50% of the IGST i.e. 100 is taken as credit against SGST and CGST, but IGST never went to the State government and yet credit was being claimed against SGST. As this a loss to the State Government, the Central government would have to compensate the State government by forwarding credit to them.

The GST is all set to knock the doors of India the coming financial year. Nonetheless, there is much confusion around how GST will actually work and how much tax percentages would be levied on goods and services.

Thus, it is advisable to buckle up for our all-new tax reform, as it is expected to throw many surprises. According to experts, India is all set to join the global bandwagon standards in managerial practices, corporate laws and taxation in years to come.

Disclaimer: All the views, opinions and information expressed in this blog are those of the author and its web source and in no way reflects the principles, views or objectives of Sage Software Solutions (P) Ltd.

How GST can make a difference

The Modi government has taken up different initiatives such as Make in India, Digital India, Smart Cities and Startup India. Such initiatives could possibly boost business growth in India. The proposed Goods and Services Tax (GST) is currently held up in the Parliament. Once the GST bill is passed in the parliament, it is expected to eliminate the cascading tax effect and free flow of goods within the country.

Here’s how GST can make a difference to the economy:

Global market:

India plays an important role in the global market. The proposed indirect tax reform could possibly stimulate the economic growth. The introduction of GST is highly expected not only in India, but also in developed economies. This may enable a better application of ambitious strategies for business and trade.

Central Value Added Tax:

Finance Minister Arun Jaitley’s announcement with respect to indirect taxes in the upcoming budget will indicate various measures to bridge the gap between the current indirect tax system and the GST. The government also needs to trim down the Central Value Added Tax and reintroduce a system to avoid the load of tax generally burdened by businesses at the time of final consumption.

Central Sales Tax (CST):

The Central Sales Tax is generally levied on sales or purchase of goods and services in the course of inter-state trade. According to the department of revenue, ministry of finance, Government of India, reduction of CST rate first from 4% to 3% and then from 3% to 2% has been done as a precursor to the introduction of the goods and services tax, as CST would be inconsistent with the concept and design of GST.

Service Tax and Central Excise:

The government needs to put in place a system that can align service tax and central excise in order to meet the anticipated threshold of central indirect taxes. It is also expected to reduce central excise. This move may further simplify the nation’s tax structure.

India’s GDP:

The implementation of GST has the potential to raise the country’s GDP. In the recent past, Arun Jaitley estimated that GST may likely increase India’s GDP by 2%.

All the information, opinions, and views depicted in this article are solely those of its original author/publisher/web source and doesn’t reflect or imitate the views, principles or objectives of Sage Software Solutions (P) Ltd.

Originally published at https://in.finance.yahoo.com/photos/budget-2016-how-gst-can-make-a-difference-slideshow/kim-k-bares-again-latest-photo-110015354.html

Kickstart your Startup with The Startup India initiative

2016, the year of the monkey has brought in fortune for all the startup entrepreneurs who dreamt of taking over the globe with their game changer startup plan. The eventful day of January 16, 2016, wherein the Hon’ble prime minister of India, Narendra Modi launched “Startup India” has geared up all the masterminds of the nation to either startup or invest in a budding startup. With billions of dollars flowing in the ventures through venture capitalists, startups in India are not only changing the economic balance, seeing a lot of top brains of prominent companies leaving their jobs to venture out with a startup.

Why Startup India?

In a very innovative move, the government has acknowledged the shift in economies by the startups and has launched ‘Startup India, Standup India’ to promote and motivate not only the entrepreneurs to venture out, but also the venture capitalists who have been the primary funding source for these ventures. With Startup India, there is an effort to make the legal, funding, taxation processes simpler for the entrepreneurs.

 Are you eligible to avail benefits under the initiative?

Government has been keen to promote the right talent for a better future, and thus carefully framed the rules under Startup India schemes, which states that the startups that are eligible under the initiative are as follows:

• The operational years should be less than 5 years
• Turnover should be less than 25 crore
• Potential and Commercial business plan
• Innovative Idea or development plan

And the same would be approved and certified by the DIPP via the inter-ministerial board before they can avail the benefits of startup India, which are

• Tax exemption for the first 3 years
• 80% reduction in patent registration for your business idea
• 2500crores of initial funds with the overall FoF being 10,000 crores
• Dedicated website and mobile app
• Self-Certification

 So how can you apply and register your company for Startup India?

The startup India E-registration portal will be kicked on 1st April 2016, so that anyone can apply for it through anywhere. To add more to it, the government has provided Startup support camps at various national institutes. If that is not enough, the government has been kind enough to provide easy exit policy, for any startup plan who fail to succeed, without being much troubled on documentations and loans.

Only by next quarter will we be able to analyse how the initiative boosts the startup scenario in India. For now, there is excitement among the entrepreneurs who foresee much more benefits under the scheme.

With legal and funding complexities being taken care by the government, the entrepreneurs now have to focus on streamlining their operations. Usually when the startup is in its nascent stage, the roles between the teams are not defined properly, as the startup grows, if the same is happening, it is a sure alert sign. What the entrepreneurs need to do is get all their processes on a single platform and identify for any data leakages or duplicity which may be hampering with the sales pipeline and forecasting.

With an ERP for SMEs and startups, you not only are able to streamline your processes but also manage all business processes with these easy to use modules

Features of Sage ERP:

• Finance Module: Manage your expense and sales
• Tracking: know where your SME is, monitor your project progress and performance
• Inventory and supply chain: efficiently reduces wastage of products and handles distribution
• Business Intelligence: Generate precise reports for planning for future projects. 

Moreover, Sage CRM can help you gain quality leads, follow up process, and retain your customer, which is quintessential for any startup to climb up the success ladder. Thus, put on your safety belts, gear up with our business management suites and blast out with startup India, for the right time is right now and for you to be on top forever.

To know how Sage ERP Solutions can aid your SME management seamlessly and boost productivity, contact us here. You can also SMS SAGE to 56767 or drop us a mail at sales@sagesoftware.co.in for free demo and consultation.

Disclaimer: All the views, opinions and information expressed in this blog are those of the author and its web source and in no way reflects the principles, views or objectives of Sage Software Solutions (P) Ltd.