A successful manufacturing business requires efficient and effective management of time, energy and resources, which can be achieved with specialized administrative and managerial skills. Efficient and effective management of the manufacturing unit of a business is a key success factor because manufacturing a good quality product ultimately leads to profit and growth. Read More :- 5 […]
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Starting a trading business requires a lot of initial research related to the product to be traded. What should be traded, what’s the market availability, what’s the competition level, what’s the expected durability of the product in the market, what will be the cost, what will be the profit margin, what will be the customer […]
It is a fact that anything unique, useful and innovative has the potential to create a monopoly in the market. However, to encourage fair competition & provide the owner with an opportunity to earn, the patent law is created. Read More :- Did you just innovate something spectacular for your startup? Patent it ASAP!
Traders who have got their GST registration done may sometimes, send/ export goods outside India for promoting their businesses. These goods are displayed in Exhibitions for their prospective customers abroad. The goods are sold when the customer agrees to buy the goods. This is basically the “Sale on Approval” basis. Read More :- 5 GST Implications […]
Advance Tax is a form of tax payment in parts on the estimated income of the year, instead of full tax payment at the year-end. Every person whose estimated tax liability for the year is ₹10,000 or more, is liable to pay advance tax. It is paid in instalments. Read More :- What is Advance Tax […]
The registered office of LLP (Limited Liability Partnership) is the official address of the principal place of business and for all the communications. Books of accounts of LLP must be maintained at the registered office. However, if any time after the LLP registration, it needs to change the registered office to any other place, there […]
There was a major change observed in 38th council meeting as for the first time the voting route was adopted for decision making. Here are the key highlights of the meeting held on 18th December 2019. Read More :- 38th GST Council Meeting Highlights
In India, closing a Private Limited Company is possible in two different ways – compulsory winding-up and striking off. A closure is enforced when the Company fails to comply with a lot of mandatory compliances. Therefore, if a company is unable to carry out its business operations for a considerable period and does not expect […]
Obtaining FSSAI Registration and License is the first step towards fulfilling mandatory food business requirements and enter into the food industry. Apart from that, there are various other licenses that are mandatory for the food industry. Here is the list of the most critical restaurant licenses required to open a restaurant in India – obtaining […]
Historically speaking, the Trade Mark Act, 1940 was the first statutory law formed for governing the trademark in India. It was replaced by the Trade and Merchandise Marks Act, 1958. Currently, the Trade Marks Act, 1999 governs the law relating to the trademark registration in India. Read More :- When can a Trademark be Removed from […]
In a world where first copies are easily available, it is very important to register a trademark for your brand name. It safeguards the brand from unauthorized use. One must check the availability of the trademark before registration by following the trademark search process. It lets you know whether the brand is available for registration […]
What is FSSAI? FSSAI is an abbreviation for the Food Safety and Standards Authority of India. This organisation works for securing the laws relating to Food Business in India and thereby establishes standards for Food Business Operators (FBO) in the Food Industry. Read More :- FSSAI Registration and License for Starting a Food Business
The Income Tax Act, 1961, not only levies a tax on the income earned but also provides various deductions and exemptions from the earned income before levying tax. Some companies started taking advantage of these deductions and exemptions which led to either reduced tax liability or NIL tax liability. As a result, the number of […]
A ‘Private Limited Company’ is owned either by non-governmental organizations or by a small number of shareholders/ company members. In India, the Ministry of Corporate Affairs is the governing body which regulates the Private Limited Company. Read More :- How can a third party invest in a Private Limited Company?
RBI [The Reserve Bank of India] is the Central Banking institution of India, which controls the issual and supply of the Indian rupee. RBI issues guidelines which are required to be followed by other banks. Since RBI is the supreme bank in India, specific approval of RBI is required for various transactions specified under the […]
Generally, economic activities are divided into three major categories: Business Profession Employment But sometimes people get confused when categorizing economic activity as either business or profession. So, let’s get some clarity regarding the terms – business and profession. Read More :- How to differentiate between business and profession?
Introduction An LLP agreement is a written contract between the designated partners or between the LLP and its partners. It establishes the duties and rights of the designated partners towards each other as well towards the firm upon LLP registration. Read More :- Key Elements and Significance of Vendor Agreement in LLP
Limited Liability Partnership (LLP) is a corporate structure combining features of company and partnership firm. LLP registration enables a separate legal structure and is liable to the full extent of its assets but the partners are liable to the extent of their agreed contribution in LLP. Partners are not liable for each other’s misconduct or […]
Attracting more customers and converting them to loyal clients is the prime focus of every businessperson. Several factors decide how your business attracts new customers while generating loyalty amongst the existing ones. One of these factors includes superior quality. There are countless definitions about what the term ‘quality’ signifies. And how does a business indicate […]
Every company has its registered office. The registered office of a company means the base of operations of a company – it is from where the business is conducted and all the communications are received. A Company opens a branch office to expand its business – it may or may not be within the same […]