The founders of Giftxoxo.com (Nreach Online Services Private Limited), aiming at spreading their innovative gifting experiences in market, shared their Budget wish-list with SMEpost.com–
- Implementation of Startup Policy to happen with immediate affect.
- Interest & Penalty on delayed payments should be relaxed as this is not known by Start-ups in early days of business.
- Implementation of PF/ESI/PT/Gratuity etc. to not be applicable in first 2 years of start up as Cash to Employee (CTE) is more critical than Cost to Company (CTC).
- Relaxation of norms pertaining to Service Tax & Compliance burden as business model is still not developed in first few years of a Start up.
- Reliance on Self Certification instead of Audits as these will help entrepreneurs to devote time, energy & resources to build on their innovative ideas.