NOT Easy to Do Business
|5||23 Aug 2016 - 17:51||Anonymous (not verified)||18.104.22.168||Not Easy to Do Business||Health Tech Company||Delhi||New Delhi||2/5||2/5||1/5||2/5||Get credit||Corrupt officials who asked for bribes||Tax Scrutiny notice came over with standard 30 pointer across the industry irrespective of whether things were applicable to us or not. After submitting a big bunch of documents, another requirement came over with 20 additional points which was not relevant to us. We appeared 5-6 times in order to settle the case and finally we had to carry 20 files and folders with us to show them few invoices of their consent. Then we needed something else to close the case as he was not able to find any fault in records.||
Keep your accounts updated with all documents supporting for all major expenses
Audit should be done in detail and with proper annexures
Proper approvals from Directors on major Capex & Opex expenses
Tax Audit should be properly documented
|6||6 Sep 2016 - 20:13||Anonymous (not verified)||22.214.171.124||Easy to Do Business||Construction||Uttar Pradesh||U.P.||3/5||5/5||4/5||4/5||Register the business||My experience was pretty much a good and an easy experience since I took expert advice to register my business.||
Always take expert advice in the particular state you want to start and register your business because different states have different rules.
Local advocates know the best way out and they will be able to help you.
|7||11 Sep 2016 - 20:35||Anonymous (not verified)||126.96.36.199||Not Easy to Do Business||Manufacturing/ Packaging||Uttar Pradesh||Greater Noida||3/5||3/5||3/5||3/5||Get electricity connection||Confusing laws that say different things||
There was denial for commercial electric connection on freehold plots. They agreed later, after repeated requests and talking strictly in a stern tone. I needed to get commercial connection to another freehold plot and I am not sure whether I will be able to get that without paying bribe or not.
Auditors also tell you a lot of rules at the time of inspection, seek monetary benefits to turn a blind eye. There is no website or one place where we can get a list of all the rules to be followed.
The process of registering a firm is also ironical.
They ask three guarantors who have been doing business for last couple of years (I think 3 or more) and have been filing returns timely. In case you do not have three guarantors you can also get a fixed deposit opened of 25,000 in the name of the firm and use that as the guarantee. Now the irony here is that hardly any bank would accept to open a fixed deposit in the name of the firm which is not yet registered. Since we did not know enough businessmen in Greater
Noida, we visited a number of banks who refused to accept money and open a FD in the firm's name. Luckily I met a bank manager who understood and agreed to help. This is how we got a FD and hence were able to get the firm registered almost when we were about to lose hope.
Another experience is that when two different states get involved, different taxes also get involved. This is applicable for goods being brought into Delhi from another state on C.S.T. We need to share a copy of bill with the Delhi client who then sends a D-form and only then can the goods be brought into Delhi with the bill and the D-form from the client. This form contains same information present on the bill i.e. - date, goods, quantity, vehicle registration number and the billed amount. This process can be managed if you bill electronically and share the documents via email. Doing the same manually will involve additional delays. I think GST might be a big step in resolving this issue.