Introduction
Starting a business is an exciting journey, but ensuring that your venture is legally compliant is crucial for long-term success. Securing the necessary licenses and registrations is the first step to operating smoothly. This post covers the essential licenses and registrations every new business in India must have.
1. GST Registration (Goods and Services Tax Registration)
- What It Is: GST is a comprehensive indirect tax levied on goods and services. Any business with an annual turnover exceeding ₹20 lakhs (₹10 lakhs for special category states) must register for GST.
- Why It’s Important: Without GST registration, you cannot legally collect GST from customers or claim input tax credit.
- How to Get It: Apply for GST registration through the GST portal. You’ll need basic details like PAN, proof of business address, and bank account details.
2. MSME Registration (Udyam Registration)
- What It Is: Micro, Small, and Medium Enterprises (MSME) registration is an optional registration under the MSME Development Act, offering various benefits like easier access to loans and subsidies.
- Why It’s Important: Registered MSMEs can avail government schemes, subsidies, and lower interest rates on loans.
- How to Get It: You can register online via the Udyam Registration portal using your Aadhaar and PAN.
3. FSSAI License (Food Safety and Standards Authority of India License)
- What It Is: Any business involved in food manufacturing, processing, or packaging must obtain an FSSAI license.
- Why It’s Important: This license ensures your food products are safe and meet the standards set by FSSAI. It also builds customer trust.
- How to Get It: Apply through the FSSAI online portal. Depending on your business scale, you may need a Basic, State, or Central license.
4. Trademark Registration
- What It Is: Trademark registration legally protects your brand name, logo, or slogan from being used by others.
- Why It’s Important: It secures your brand identity and helps build a recognizable and trusted brand.
- How to Get It: Conduct a trademark search to check availability and file an application with the Trademark Registry.
5. Import Export Code (IEC)
- What It Is: IEC is a 10-digit code required for businesses dealing in international trade, i.e., importing or exporting goods and services.
- Why It’s Important: It is mandatory for customs clearance and receiving international payments.
- How to Get It: Apply through the DGFT (Directorate General of Foreign Trade) website with necessary business and banking details.
Conclusion
Obtaining the right licenses and registrations is essential to operating legally and protecting your business. It not only helps in building a trustworthy brand but also offers numerous benefits, including easier access to credit and compliance with regulatory requirements. At Startup Filling, we provide comprehensive support in securing all the necessary licenses and registrations, ensuring your business is set up for success from day one.
