The Best Idea to Start a Promising Business within ₹ 8000/-

In the present times, getting your dream idea funded is as difficult as nailing jelly to a tree. It is for this very reason that innumerable people have given up on their dream of building their own enterprise and giving wings to their dreams. But, not anymore!

For what it’s worth, a game-changing business is not about the funds it has to begin with, it is more about the potential that the idea has and the work you’re ready to put in to make the most of that potential. Today, we discuss some astounding business ideas for you that do not need any more than a meager sum of Rs. 8,000 and promise you great returns. So, read on to know more about these awe-inspiring prospects.

  1. Mobile and DTH Recharge

Given the traditional structure of the Indian society, even in today’s times of digital advancement, the larger chunk of people prefer getting their Mobile and DTH recharges through the nearest retailer. This has been made extremely easy and profitable by the Payworld Application, which allows a retailer to start offering these services with a trading balance of as less as ₹ 1,000. For all you know, you don’t even have to take the effort of initiating tie-ups with different Telecom providers or DTH services. The Payworld Application comes packed with all of them and offers lucrative commissions in turn.

  1. Insurance

Payworld enables retailers to sell all 3 lines of Insurance policies i.e. Life, Health & General to customers by converting them into Insurance Point of Sale or Insurance POS. All you need is service activation fee of ₹ 500, to begin with, and as you can guess the opportunities are limitless. After all, every member of every family in your vicinity needs all the three types of insurance policies. Don’t they?

  1. Bill Payment

As a retailer, you can conveniently use Payworld Bill Payment services to pay various kinds of utility bills like electricity, water, gas, landline bills and post-paid bills for the customers. Again, you will need ₹ 500 to activate this service considering the amount for the same, it is easily manageable and truly worth your while. Considering every family you cater to needs to pay at least 4 out of these 5 bills every month, your incentive will be more than satisfactory.

  1. E-Shopping

As is known to one and all, a large majority of people in India are not tech-savvy. However, even such people know the benefits of e-shopping and want to explore the same. As a Payworld retailer, you can help such customers to shop on various e-commerce portals. In turn, you stand a chance to earn commissions on the sales. Here, you will need to make an investment of about ₹ ­­­­­­­1250, to activate this service.  Now isn’t that a piece of cake.

  1. Travel Bookings

Payworld retailers can book Air / Train / Bus tickets, Hotel Reservations along with Travel Insurance on behalf of their customers for both, domestic as well as international locations. This can be done with great ease through the Payworld Application. One just needs to activate this incredible travel service with a minimal service activation fee of ₹ 8,000. Trust us, when it comes to earning great returns on your investments, it doesn’t get better than this. Not convinced yet? Let us share a true story with you. Mr, Avinash Singh Yadav, a 30-year-old graduate from Sheopur, Madhya Pradesh, invested the small sum and kick-started his small business of travel bookings, from his father’s grocery shop. Within a span of just 1 year, not only was he able to generate a significant income but also rented his own shop in one of the prime locations of the city. Now doesn’t that sound like a dream come true?

So, what are you waiting for? Now that you know some truly promising ideas of setting up your business that too on a minimal budget of ₹ 8,000 and less, go ahead and help your dreams take that much-awaited flight in the world of reality. For all you know, you could be India’s next star entrepreneur!

* Service activation charges can be changed anytime without prior information.

* For latest fee/charges, please contact on Payworld Helpline number 011 3315 8888.

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A Guide To Managing GST With Payworld GSP

What is GST?

GST is a ground-breaking tax reform that is to change the economic landscape of India from the first of July 2017. This new tax system proposes to replace the several indirect taxes currently levied in the country. Under this new tax system India will be unified as a common market under the purview of a single indirect tax that is levied on value addition.

What is GSTN?

Goods and Service Tax Network (GSTN) is a private company that has been set up with the sole purpose of implementing the Goods and Service Tax regime by developing and maintaining the necessary IT infrastructure. This non-profit company will provide the interface between the government and the tax payers by developing the front-end services of registration, returns and payments. 24.5 % of the company share is held by the Union Government and the state governments each. Whereas ICICI, HDFC, NSIC and HDF Banks hold 10%. The remaining 10% is held by LIC Housing Finance.

The GST Suvidha Providers

GST Suvidha Provider, or a GSP, is a third party ‘financial service provider’ that will enable the taxpayers to comply with the GST. The G2B user interfaces will allow businesses to interact with the GST system in a convenient manner. Applications developed by such parties will be available on desktop, mobile and other interfaces as well. This initiative is in line with the Digital India initiative launched by Prime Minister Narendra Modi.

GST compliance that is required by taxpayers

  • Businesses will be required to upload Invoice Data
  • Uploading GSTR-1, which is essential return containing supply data
  • Downloading of data on inward supplies, and uploading on GSTR-2
  • File GSTR-3, which will be created by GST portal based on GSTR1, GSTR-2 and other tax related information

Payworld is one of 34 selected GSP

Payworld is a wholly owned subsidiary of USD 2 billion Sugal and Damini group which has several diversified businesses, one of which is Payment services. They currently manage almost a hundred million transactions per year and invest heavily in IT infrastructure. They currently have a strong presence in 23 states and cater the need of 10 million users.

Out of the 34 selected GSP’s, Payworld was selected as they are build for reliability, offer faster processing without compromising on security. Their GSP portal is backed by a state of the art customer care centre and a panel of CA and Tax advocates are available for maximum and efficient compliance.

Services offered by Payworld GSP

  • GSP Passthrough – Users can use their own application through this service offered by Payworld GSP. Payworld will facilitate their users to transfer their data in encrypted form as prescribed by the GSTN.
  • GST Practitioner – The users of this service will have access to assistance provided by Payworld in filing he returns in bulk on behalf of a third party, by using their portal.
  • Taxpayer – Through Payworld’s portals, the taxpayers are able to file returns, automatically upload and download invoice data, avail the services of reconciliation, ledger maintenance and challan generation. All of these processes are required in order to comply with the rollout of GST and the Payworld portal allows for full compliance in an easy and convenient manner.
  • SAP Third Party Solutions – Several businesses already use third party software like SAP, Oracle and more as their domain. Payworld offers numerous customised service solutions to such clients and ensures that they are able to fully comply with the GST rules and regulations.

The simple three step approach of filing GST

  1. Simply login to their portal, and download or upload the sales and purchases invoice in an Excel/ CSV format.
  2. Reconcile Invoices of purchase with auto populated Invoices of purchase and Accept / Reject Amended sales.
  3. Finally, pay the GST and follow it up with filing your monthly return.
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