This occupational standard focuses on developing comprehensive knowledge and practical competence related to business registrations, taxation, and statutory compliances essential for operating a business in India. It enables learners to understand various business registration processes such as GST, Income Tax, IPR, trademark, and quality registrations, along with their importance and compliance requirements. Learners gain clarity on income tax concepts, including classification of income, tax rules for different business entities, deductions, exemptions, return filing, audits, and consequences of non-compliance. The NOS also covers GST-related provisions such as registration, return filing, composition scheme, HSN/SAC classification, and E-way bill compliance. Mentorship and handholding support for enterprise establishment may also be availed by students through our Incubator, the Institute for Industrial Development (IID), which operates in partnership with the Ministry of MSME, Government of India. IID has a strong network of over 2,000 industry mentors who will guide and support these candidates throughout their enterprise development journey