Before You Start
People are told to register everything on day one. Mostly, they need not.
Agents and online advertisements make registration sound urgent and complicated, and often charge for things that are free. This session explains the main registrations in plain words, what each is for, which depend on your business, and which questions to put to a chartered accountant before paying anyone.
Explore this page6 sections
Registering too early costs money. Registering too late can cost more.
Some registrations are optional and useful. Some are compulsory only above a certain turnover or in certain cases. Some are specific to a trade, a state or a city. Many new founders pay agents for work they could do themselves, or register for something and then discover it brings monthly filings they did not expect.
The honest position is that the answer depends on what you sell, to whom, where, and how much you expect to earn, and that the rules and thresholds change over time. This session explains the logic and tells you where to check. It is not legal or tax advice, and it does not quote fees.
The main registrations, and how to think about them
36 topics across 7 areas. Seven areas. Each says what it is for and the question to ask about it.
Choosing a StructureSole proprietorship, partnership, LLP or company.6
- A proprietorship is the simplest and has no separate legal existence from you
- A partnership needs a written deed, and partners are typically personally liable
- An LLP needs at least two partners, and gives limited liability with fewer formalities than a company
- A private limited company needs at least two directors and two shareholders, with a one-person company as an option for one owner
- Each adds cost and filings, in return for liability limits, credibility or outside investors
- Many people start simple and change when there is a reason
Ask a chartered accountant or company secretary which structure fits your plan, not which is most popular.
Udyam RegistrationFor micro, small and medium enterprises.5
- Done online on the Ministry of MSME's official Udyam portal
- The portal states it is free, paperless and based on an Aadhaar number
- The portal states it is the only official site for it; others may be charging for a free service
- Often needed to access schemes, bank products and late-payment protections meant for small suppliers
- Check what it requires of you and what it offers in your case
GSTDepends on what you supply, where, and your turnover.5
Thresholds and conditions have changed over the years. Check the current position on the GST portal or with a chartered accountant, and do not rely on a figure from an article, including this page.
- Registration is required above turnover thresholds that differ for goods and services, and for some states
- Some cases require registration regardless of turnover, such as certain inter-state or online-platform sales
- Customers who are themselves registered may prefer to deal with a registered supplier
- Registering brings regular returns and invoice rules
- Not registering when you must can bring penalties
Licences for Your Trade and PlaceSpecific to what you do.5
- Shops and establishments registration, set by the state
- A local trade or health licence from the municipal body, for some trades
- Food businesses need FSSAI registration or a licence, depending on their size
- Professional tax in some states
- Sector-specific permissions: transport, education, health, import and export
Ask the local authority and the sector regulator, not only an agent.
Money and Paperwork from Day OneNot a registration, but it makes all of them easier.5
- A separate bank account for the business
- Proper invoices and a record of every sale and expense
- Receipts kept for what you buy
- A simple monthly bookkeeping habit
- Your own PAN, and a business PAN for entities that need one
Agreements, Names and ProtectionThings people forget until there is a dispute.5
- Written terms with customers and suppliers
- A written agreement between partners or co-founders
- Checking that a name or brand is not already in use before printing anything
- Trademark and domain registration, when the name matters to the business
- Ownership of anything you create for others, in writing
Keeping UpMost avoidable costs come from missed dates.5
- A calendar of filings, renewals and payments
- Who is responsible for each, you or your accountant
- What happens if you close or pause the business
- Reviewing every six months: has anything now become necessary?
- Keeping official copies of everything in one place
Common mistakes with registrations
- Paying an agent for a free registration
- Incorporating before there is a customer or a partner
- Registering for something and not filing the returns
- Assuming a rule from one state or sector applies everywhere
- Mixing personal and business money
- Missing renewals
What participants leave with
- A list of registrations to confirm for their own business
- Questions to put to a chartered accountant
- The official websites to check, rather than a link from an advertisement
- A first filing and renewal calendar
- A rule for deciding when each registration is worth it
How the session runs
One or two founders describe what they registered, in what order, and what they would do differently. A walkthrough of the main registrations follows, with the official websites to check. The rest of the time goes to each participant's own business in a small group. A chartered accountant or company secretary may be invited to answer questions about the rules, but only as a source of information: nobody is soliciting work. Evenings or weekends, in person or online.
What your students leave with
- A plain understanding of Udyam, GST, shop and trade licences and the business structures
- A list of the registrations your own business may need, to confirm with an adviser
- A sense of what can wait until there is a reason
- The ability to spot a paid service for something that is free
- A calendar habit for filings and renewals
- Questions to ask a chartered accountant or lawyer, in the right order
Scheduled sessions
Nothing scheduled yet
Sessions are arranged with a college once a date is agreed. Ask us and we will find the right person for it.
A student rather than a college? See what is coming up, or ask your placement team to host this.
Register what you need, when you need it, and check the official site first.
Tell us who your students are and what stage they are at. Sessions are free for participants.