GST Registration

Goods and Service Tax is an indirect tax (whose burden can be transferred). It was embarked on 1st July 2017 by the President of India accompanied by the Indian government. The GST launch was marked as a historic midnight session for both the houses of the parliament convened at the Central Hall of Parliament.

However, high-profile guests from the business and entertainment sector such as Ratan Tata were the attendees of the session. The critics of the GST certificate were boycotting it because of the potential problems it could create for the middle and lower class.

Benefits of GST Registration :

• Eradicate the tumbling effect of the tax.
• Ameliorate logistics efficiency.
• Provide choice to the small taxpayers, comprising some category of service providers and manufacturing with turnover equal to Rs 20 lakh to pay tax at flat rate excluding credits.
• The exemption limit applies to SGST and CGST and taxpayers with a turnover of Rs 20 lakh (in some hilly and Northeastern areas, annual turnover restraint is Rs 10 lakh), under Article 279A.
• Assist in keeping the minimal level of exempted goods and services.
• Initially, the taxes imposed on the sale of goods and services are contemporary due to the supply of goods and services.

GST Return

A GST return is a document including information regarding the income/sale or expense and purchase, which a taxpayer must file with administrative tax authorities. This is used to calculate the net tax liability by the authorities.

Moreover, it can be completed effortlessly through the GST process, which is most appropriate and time-saving.

Under GST, a regular taxpayer is required to provide monthly returns and an annual return. Moreover, there are individual returns for the taxpayer registered under various schemes such as composition scheme, taxpayer registered as Input Service Distributor, non-resident taxpayer, a liable individual to deduct or collect tax (TDS or TCS), and a person granted Unique Identification Number.

TDS Return

Tax Deductible at Source (TDS) is the quarterly statement that a deductor submits to the Income Tax Department. It indicates the summary of each entry for the TDS collected or paid by the deductor to the Income Tax Authority.

Unlike, TDS amount, which is deducted during payment, it is deducted when the income is credited into the payee’s bank account or during making payment, whichever is earlier.

MSME Form-1/MSME Return (MCA)

MSME Form 1 (MCA) is a form to provide half-yearly returns with the registrar regarding outstanding payment to Micro and Small Enterprises. Every specified company must file the MSME return to submit the half-yearly return to the Ministry of Corporate Affairs, including the below-mentioned information,

• Reason for delay in payment
• Amount of due payments

Though the MSME existed on the 22nd of January, 2019, i.e., the date of issuance of this notification must file the form within thirty days of the deployment on the MCA 21 portal.

ROC Return

Registrar of Company is the office that works under the Ministry of Corporate Affairs (MCA), which controls the administration of every company and Limited Liability Partnership (LLP). Thus, MCA can control all the establishments and LLP that falls under the Companies Act 1956 or Companies Act 2013.

Moreover, in India, every company needs approval from ROC for incorporation. Thus, once an establishment files an application for incorporation, ROC will provide the certificate of Incorporation after scrutinization.

Professional Tax

Professional tax registration is simply a registration process within 30 days of employing the staff in a business. Moreover, if the work location differs, you must submit the individual registration application per the jurisdiction.

Moreover, Professional tax registration online process make it effortless to complete the registration process.

Income Tax Return

Income tax Return (ITR) is filing of a form to the Department of Income Tax which includes information regarding an individual's income and tax of a year, including income from salary, profit and loss from business and profession, income from property, and more.

The basic definition of - what is Income Tax Return, is not tough to understand, but the real question arises is who needs to file it?

Below-mentioned are the individuals who are required to file ITR -

• If an individual's income is above the prescribed amount, i.e., Rs 2,50,000 as per Income tax Department.
• It is mandatory for all the corporate entities to file an ITR
• An individual earning taxable income, example 10-12 lakh. However, if an individual fails to file the income tax return, a notice could be issued against them and a legal action may be taken if no further action is taken by the concerned individual. In addition to that, failing to file ITR could also result in deduction of high TDS.

Shop and Establishment Registration

Under the Department of Labour, the Shop and Establishment Act is an act that amends and amalgamates the laws concerning the working of commercial establishments such as a trade, profession, or business.

Apart from regulating commercial establishments, it also governs the societies, education institutes, charitable organizations, printing establishments operating to earn profit. Also, it includes establishments operating in banking, insurance, brokerage, stock, or share sectors.

ESIC Registration

Employees’ State Insurance (ESI) is a self-financing social security scheme managed by the Employee State Insurance Corporation (ESIC), an autonomous authority created by law under the Ministry of Labour and Employment.

The objective of the ESIC registration is to provide a variety of medical, monetary, and other benefits to Indian workers or employees.

EPF Registration

Employee’s Provident Fund (EPF) came into existence with the Employees' Provident Fund Ordinance declaration on 15th November 1951. Moreover, it was replaced by the Employees’ Provident Funds Bill, 1952.

Further, in 1952 Employees’ Provident Funds Bill was acquainted with Parliament to provide provident funds to the employees working in factories and other establishments. The Act is known as the Employees' Provident Funds and Miscellaneous Act, 1952.

Company Registration

Setting up a business in India often involves choosing a private limited company as a preferred option. This structure offers shareholders limited liability protection while placing specific ownership constraints. In contrast, in the case of an LLP, partners oversee the management. Private limited company registration allows for a clear distinction between directors and shareholders.

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Goverment License & Registration

To begin is to succeed. Starting a business in India is not a fairy tale story, but the Nation has made tremendous progress in the recent days and made starting a business, very easy for Entrepreneurs. Today, we will look at the most commonly referred to licenses and registrations required for a business in India.

Trademark & Copyright Registration

Indian Trademarks Act of 1999 (Section 2(zb)), a trademark is a distinctive marker that distinguishes products or services from competitors in the market. It encompasses various elements such as symbols, designs, expressions, or any identifiable feature linked to a specific brand. Remarkably, trademarks are open to ownership by individuals, corporations, or legal entities, making them accessible to a broad spectrum of entities and individuals alike.

Trademark registration protects your rights to use the mark in association with your goods or services. It offers a robust shield against infringement, empowering you to take legal action against unauthorized trademark use. Upon successful registration, your trademark remains valid for ten years from the filing date, with the option to renew it indefinitely.

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