Start Up India

In the GST Council meeting held on 19th May, 2017, the GST rates and GST exemption list for services was decided. The GST Council approved five broad GST rate categories for services like goods at 0%, 5%, 12%, 18% and 28%. In this article, we look at the GST Exemption List for Services. List of Exempted Services Under GST Services by Government or a local authority excluding the following services: Services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government; Services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; Transport of goods or passengers; or Any service, other than services covered under clauses (i) to (iii) above, provided to business entities. Services by the Reserve Bank of India Services by a foreign diplomatic mission located in India Services relating to cultivation of plants and rearing of all life forms of a...

MSME Government schemes. As part of culture, Indian Government already has taken many steps to give assistance to MSME sector i.e. purchase price of plant and machinery, administrative support, sales and marketing training instead of term loan . These schemes are varied as per the nature of business. Find below some of the key benefits of this schemes. Marketing Assistance. To assist MSMEs to organise/ participate in exhibition of their products and services in domestic and global markets. ... Credit Linked Capital Subsidy Schemes(CLCSS) ... Coir Udyami Yojana(CUY) ... Micro and Small Enterprise Cluster Development programmes(MSE-CDP) ... Tool Rooms What you need to do is get in touch with myCAfilings expert to get the benefit out of it. For further details, please contact http://msme.gov.in/

Latest Update on GST: Summary of 23rd GST Council Meet "Changes to be made prospectively w.e.f. 15th November" Changes in Composition Scheme: Those supplying goods and services (services not exceeding Rs 5 lakhs in total) eligible for compositions scheme Composition scheme limit to be increased to Rs 1.5 crore (can be extended to Rs 2 crore later). 1 % GST rate for manufacturers & traders Composition tax of 1% on turnover of taxable goods (turnover of exempted goods to be excluded) Composition Returns, GSTR-4  due date extended to 24th December Composition dealers cannot make inter-state sales. Input tax benefit not allowed. Relief in GSTR compliance All businesses to file GSTR-1 and GSTR-3B till March 2018. GSTR-2 and GSTR-3 filing dates for July 2017 to March 2018 will be worked out later by a Committee of Officers Turnover under Rs 1.5 Cr to file quarterly GSTR-1 Turnover above Rs 1.5 Cr to file monthly GSTR-1 All businesses to file GSTR-3B ...

Are you starting new business ? then you must read this article. We suggest before you take any decision of leaving your full time high paying job to take a plunge and start your own business, ask yourself if you have the traits and caliber to get down on ground and do the job?  Do you have it in you to be an aspiring entrepreneur? Starting a business is not a simple task and at the same it is not a Rocket science task either. If you have a plan, adequate funding, knowledge and passion to set it up with appropriate marketing and business development skills – then you are on the right path! The key to setting a new business from scratch is to be organized and most importantly to “prepare a check on yourself”. Business Need check: Are really ready to start a business? When asked, most entrepreneurs are clueless and do not have a concrete answer to the question “why do you want to start your own business”? The clarity or the lack of vision to start a bu...