Power Of Factorial Business Solutions - Top Auditors & Tax Consultants.

  Bangalore, the Silicon Valley of India, is home to a thriving business ecosystem. Whether you're running a small start-up or managing a large enterprise, one of the key legal requirements to operate in the city is obtaining a BBMP Trade License . This license ensures that your business complies with local laws and regulations and operates safely within the city's boundaries. In this blog, we'll cover everything you need to know about the BBMP Trade License , including its importance, how to apply, and the steps involved. A BBMP Trade License is an official document issued by the Bruhat Bengaluru Mahanagara Palike (BBMP), the municipal corporation of Bangalore. It is mandatory for every business to obtain this license in order to operate legally within the city. This license is essential for ensuring that your business meets health and safety standards, follows zoning regulations, and adheres to city policies. Whether you own a retail store, a restaurant, or a service-b...

 Form ITC-04 is an essential compliance requirement under the Goods and Services Tax (GST) regime for businesses that deal with job work. It is used to report details of goods sent to and received from a job worker. Filing this form on time not only ensures transparency but also helps businesses stay eligible for Input Tax Credit (ITC) on goods sent for job work. For the Financial Year 2024-25, the GST department has clearly defined the due dates based on a taxpayer’s Annual Aggregate Turnover (AATO). If your business has an AATO of ₹5 crore or less, then you are required to file ITC-04 on an annual basis. The period covered is from April 2024 to March 2025, and the due date for filing is 25th April 2025 . On the other hand, if your business has an AATO exceeding ₹5 crore, then ITC-04 must be filed on a half-yearly basis. For the second half of the financial year — from October 2024 to March 2025 — the filing deadline is also 25th April 2025 . This split in filing frequency is ...

  The Goods and Services Tax (GST) brought a unified taxation system to India, streamlining numerous indirect taxes into a single structure. Among these was the erstwhile Luxury Tax, which previously existed as a separate levy under state laws. With GST in place, luxury tax has now been embedded within the system through higher tax slabs and compensation cess. This change has brought clarity, but also new implications for businesses operating in premium segments. In this article, we’ll dive deep into how luxury tax under GST works and how it impacts industries such as hospitality, automotive, lifestyle retail, and more. What Changed Post-GST? Before GST, luxury tax rates varied from state to state. Some states charged luxury tax on hotel rooms priced above a certain threshold, while others taxed luxury services and products differently. This created complexity for businesses operating across multiple states. After the rollout of GST, this fragmented system was replaced with a u...

  Starting April 1, 2025, a new GST rule is set to change the way restaurants inside hotels charge tax on food and beverage bills. If you’re dining at a hotel where the room tariff exceeds ₹7,500 per night (even just one room in the previous financial year), expect to pay 18% GST on your meal instead of the earlier 5%. This rule comes into effect as per Notification No. 05/2025-CT (Rate) issued on April 1, 2025. These hotels are now considered “specified premises,” and restaurants operating within them are obligated to charge 18% GST. On the upside, these restaurants can now claim Input Tax Credit (ITC) , which can be used to offset their tax burden on inputs like ingredients, rentals, or other services. However, not all hotel-based restaurants fall into this category. If a hotel did not charge more than ₹7,500 per night for any room in the previous financial year, it’s considered a non-specified premises . Restaurants in such hotels have two options. They can either continue wi...

 If you're starting a business in Bangalore, obtaining a BBMP Trade License is one of the first legal steps you must take. This license is issued by the Bruhat Bengaluru Mahanagara Palike (BBMP) and is mandatory for any business operating within the city limits. Whether you’re opening a shop, restaurant, clinic, or even a home-based business, this trade license ensures that your enterprise is recognized by the municipal authority and complies with hygiene, safety, and regulatory standards. What is a BBMP Trade License? A BBMP Trade License is a legal document that grants permission to run a business in a specified location in Bangalore. It helps the local government track and monitor businesses to ensure they follow zoning laws, fire safety, health codes, and other municipal regulations. Why is a Trade License Important? It provides legal authorization to operate. Ensures your business meets public safety and health standards. Protects you from penalties, fines, o...

 In today's competitive market, maintaining financial clarity is essential for businesses of all sizes. Whether you’re a startup, an SME, or a growing enterprise, professional bookkeeping services can be the game-changer that ensures your success. At Power of Factorial Business Solutions, based in KR Puram, Bangalore, we provide end-to-end bookkeeping services that help you stay compliant, make informed decisions, and scale faster. Bookkeeping is not just about recording numbers; it’s about understanding the financial health of your business. With accurate bookkeeping, you gain visibility into your income, expenses, profits, and liabilities. This visibility helps you forecast growth, prepare for audits, file GST and income tax returns seamlessly, and avoid unnecessary penalties or financial blind spots. What makes our bookkeeping service stand out is our commitment to accuracy, compliance, and transparency. Our team of experienced professionals handles every detail—from managing ...

 If you're running a small business, freelancer gig, or an emerging startup, you might assume that GST registration isn’t necessary until you hit the mandated turnover threshold. However, many savvy entrepreneurs across India are now opting for voluntary GST registration — not out of obligation, but for strategic growth. In this blog, we’ll explore why this proactive step can open the doors to new opportunities and how Power of Factorial Business Solutions can assist you in a smooth, reliable GST registration process. What is Voluntary GST Registration? Voluntary GST registration allows a business to register under GST law even when its annual turnover is below the exemption threshold (₹20 lakhs for service providers and ₹40 lakhs for goods suppliers in most states). This means, even if you’re not legally required to get a GSTIN, you can still choose to get one — and enjoy the advantages that come with being a GST-compliant entity. Who Should Opt for It? Voluntary GST r...

  In today’s dynamic and regulated business environment, navigating the maze of registrations, licenses, taxes, and compliance can be overwhelming for any entrepreneur. That’s where Power of Factorial Business Solutions , headquartered in K R Puram, Bangalore , steps in as your dependable partner. We are not just a consultancy—we are your business enabler , your registration specialist , and your compliance guide , all rolled into one. We Don’t Just File. We Empower Businesses. Whether you’re starting a proprietorship or scaling a private limited company, we understand the challenges of managing registrations and staying compliant. At Power of Factorial, we focus on simplifying processes, reducing delays, and helping you stay audit-ready—all while you focus on growing your business. Full-Spectrum Business Services Under One Roof Our service bouquet covers all essential legal, tax, and statutory needs of a business. Here’s a snapshot of what we deliver: 1. Business Formation ...

  MSME registration, now known as Udyam Registration, is a government initiative that aims to promote and support micro, small, and medium enterprises across India. In an economy as dynamic as ours, MSMEs are the true game changers—contributing significantly to employment, exports, and innovation. Recognizing this, the Ministry of MSME revamped the registration process in July 2020, introducing a simplified, paperless, and free-of-cost online system under the name "Udyam Registration." One of the biggest reasons why businesses should consider MSME registration is the wide array of benefits that come with it. Registered MSMEs enjoy access to collateral-free loans under various credit guarantee schemes, priority in government tenders, protection against delayed payments, subsidies on patent and trademark registration, and even concessions on electricity bills. These incentives are not just financial—they're strategic, designed to help businesses grow sustainably in a compe...

 Unified Payments Interface (UPI) continues to revolutionize digital transactions in India, processing over 18 billion transactions worth ₹24.77 lakh crores in March 2025 alone. As usage surges, users must stay updated with the latest UPI transaction limits across banks, sectors, and payment types. Let’s dive deep into the updated UPI rules for 2025 , including new caps, specialized limits for sectors like education and healthcare, UPI Lite updates, and changes implemented by the NPCI (National Payments Corporation of India). What Is the Standard UPI Limit in 2025? As per NPCI guidelines, the default UPI daily limit is ₹1,00,000 per user per day. However, individual banks may impose lower or higher limits based on internal risk assessments and customer profiles. Standard UPI Daily Limit: ₹1 lakh Per Transaction Limit (for UPI 123Pay): ₹10,000 Max Transactions Allowed Per Day: 20 High-Value Transactions Allowed via UPI To support critical payments, UPI allows ...

 If you're a business owner in India, understanding and complying with GST (Goods and Services Tax) regulations isn’t just a legal necessity—it’s a business-smart move. GST registration provides credibility, access to formal markets, and financial benefits that can directly impact your growth and reputation. Many small businesses hesitate to register under GST, especially if their turnover is below the threshold. However, voluntary GST registration opens doors to opportunities that are otherwise inaccessible, such as serving corporate clients, listing on e-commerce platforms, and claiming Input Tax Credit (ITC). Let’s break down why GST registration matters. First and foremost, it gives your business legal recognition. Once registered, you receive a unique GSTIN (Goods and Services Tax Identification Number), which you can proudly display on invoices and documents. This not only builds trust with clients and vendors but also shows that your business is transparent and compliant ...

 When it comes to running a successful business, an accountant is not just an asset—they’re a necessity. From managing daily transactions to providing strategic insights, accountants wear many hats. In a rapidly evolving financial landscape, their responsibilities have expanded beyond just bookkeeping. Whether you run a startup, an MSME, or a large corporation, knowing what your accountant should handle is essential for compliance, growth, and sustainability. Let’s explore the top 10 key responsibilities of an accountant that every business owner should be aware of. 1. Accurate Financial Record Keeping The most fundamental duty of an accountant is to ensure all financial transactions are recorded accurately. This includes purchases, sales, receipts, and payments. These records form the backbone of financial reporting and are essential for audits, taxation, and performance analysis. 2. Preparing Financial Statements Accountants are responsible for generating the company’s core f...

 The financial year 2025-26 brings significant tax changes that impact individuals, businesses, and investors. From revised income tax slabs to updated TDS and TCS rules, these modifications will affect tax planning strategies. Here's a complete breakdown of the key updates effective from 1st April 2025 . 1. New Income Tax Slabs for FY 2025-26 The new income tax regime is now the default option, but taxpayers can still opt for the old regime by filing Form 10IEA . Below are the revised income tax slab rates : Up to ₹4 lakh – NIL ₹4 lakh – ₹8 lakh – 5% ₹8 lakh – ₹12 lakh – 10% ₹12 lakh – ₹16 lakh – 15% ₹16 lakh – ₹20 lakh – 20% ₹20 lakh – ₹24 lakh – 25% Above ₹24 lakh – 30% The standard deduction has also been revised: Old Regime : ₹50,000 New Regime : ₹75,000 Additionally, Section 87A rebate has been modified: Old Regime : Rebate of ₹12,500 for eligible taxpayers New Regime : Rebate of ₹60,000 for incomes up to ₹12 lakh 2. Capit...