Top 3 Vital Steps to Follow to Start a New Business in Delhi

by Ananya Nair Accounting and Legal Services

If you are thinking of starting a business in Delhi then you have to keep in mind a few things like business registration and license required to start a business in Delhi. It is very important to comply with the rules and regulations of the Delhi government because without compliances you may not be allowed to start your business in Delhi, so you should keep in mind that you have to comply with the laws. This article talks about the incorporation of a business in Delhi so you will get an idea about this.

How to start a new business in Delhi–

You can include your business in Delhi easily but you have to comply with the laws, rules, and regulations of the state and central government of India. The first thing you have to do is, conducting market research, which is a very important thing before starting a business in Delhi because after conducting market research you will know about many things like competition, service providers, prices and many more things which help your business. After conducting market research, you have to make a business plan for your business and then you can set up your business but you have to comply with the following registration –

Company Registration –

Company Registration is an important document for all businesses because this document shows that your business is legally established. Company Registration will provide you legal popularity and after Company Registration, it is simple to get a loan. Without Company Registration, you may have to face many problems in the future. You can establish your business as a private limited company/LLP/one person company/partnership firm/sole proprietorship firm. You have to apply for the concerned department for business registrations as if you are considering starting a Pvt. Ltd or a Limited Liability Partnership (LLP) then you have to apply for Company Registration under the Ministry of corporate affairs.

GST Registration in Delhi –

GST Registration is very important to comply with taxation laws. According to laws, it is compulsory for those whose turnover is more than Rs. 40 lakhs or Rs 10 lakhs in some state in India. It is a mandatory registration and it is very important to obtain the GSIN Number because you have to print that number on your invoice and then you have to collect the indirect tax from the customer. If you don’t register under GST then you may have to pay a large fine or you may get the penalty of imprisonment. So you should register your business under GST.