The last two decades have shown evident and rapid development in the field of software technology. There are a lot of applications available to make work related tasks easier and more productive. Although there has been an extensive study over delivering, increasing and maintaining software quality, there has not been enough resources which explain about ‘Rating a Software‘s Quality’. This study would project the literature review thus far and also sculpt the scope and need for the evolution of a rating system of software quality for the future. Software quality rating would refer to a score, a number that can act as the software quality index which would help the users to confirm that the software would be compliant to their system specifications and also support them to make a buy decision.