Renew Your FSSAI License in India with the help of Experts

  • By Swarit Advisors
  • 14 Sep, 2018

An FSSAI certificate is the most important permit which is must for running the food business in India. All the food operators who are eligible such as manufacturers, distributors, transporters, retailers must have a FSSAI License before the initiation of their food business. It is therefore similar to that of renewing your license, all you have to do is to get in touch with the best-skilled professional.

The legitimacy of the food license extends from 1 to 5 years and it relies upon the number of years which is chosen by the foodoperator. Similarly, the charge of the authentication of food certificate also increases with the quantity of the years that you have applied for. In accordance with the Food Labeling Requirements, you will be required to apply for the renewal of the food license within 30 days before your license expires.

If in any case, youforget to apply for the renewal of the Food license certificate then you will be charged for the penalty of Rs. 100 per day.Thus if the registration of the renewal of the food license is not applied then the license is considered as.The food operator then is required to apply for the new license to restart their business.Therefore it is sensible to apply for food registration to avoid penalties.

What Is the Procedure to Renew FSSAI Food License?

The procedure of reestablishment of the FSSAI license is same as the procedure of utilization of the FSSAI certificate.

The First step is filling the Form A/Form B: The Form A or Form B is required to be filled which depends upon the eligibility of the food operator. These are the essential structures which comprise of the business activities that are required to be filled alongside the self-attested declaration. The self-attested declaration must comply with the guidelines ofthe Food Safety and Standard Act. You will also be required to submit id proof such as Aadhaar card, voter id, Passport, driving license, and much more.

Complete: After the successful inspection, if they get satisfied with everything that you have presented then you can resume your business without waiting for any other notice.

How to Get the License: The FSSAI license is granted within 60 days but in case if more than 60 days have been passed and you haven’t received it yet then also you may resume your business until and unless any further notice occurs.

What is the Validity& Renewal of the Registration or Food License?

·      The food registration certificate chosen under these Rules will be legal and existing, except specified for a time of about 1 to 5 years as selected by the Food Business Operator, from the date of issue of food license registration.

·      The renewal of the food license certificate will be made in the Form A or B of Schedule 2, but not later than 30 days preceding the expiry date demonstrated in the license.

·      The Registration or Food License Certificate will be continued on use till the time of renewal has come. After that, you need to apply for its renewal before 30 days.

·      Any renewal request which is filed above the expiry date shall be accompanied by the penalty of Rs. 100 each day delay, as stated under the Regulation 2.1.7 (2).

·      FSSAI Registration or license for which renewalhas not been functional under the mentioned regulation 2.1.7 (2) or 2.1.7 (4) will get expiredand the food operator shall stop all the food business. The Food Business Operator should apply for the new registration as mentioned in the Regulation 2.1.1 and 2.1.3 in case if he wants to restart his business.

For getting more information regarding food license you may anytime get in touch with our experts at Swarit Advisors where we are 24/7hr available at your end to help you with immediate assistance. Get in touch with us through our phone number or email chat we will feel glad to help you with best possible ways.

Source url - https://swaritadvisors.puzl.com/_news/Renew-Your-FSSAI-License-in-India-with-the-help-of-Experts/129148

 

By Swarit Advisors February 2, 2019

Private Limited Company Registration

A Private Company is a corporate entity having a legal existence and right to hold property or asset in its own name. Private Limited Company is one of the most common types of company registration in India; it is the most widespread and most popular type of corporate legal entity. Being a legal entity it can sue and be sued too. In case you wish to register a private company, it must be registered under the Companies Act 2013.

At initial level and as a startup you may start as the private company initially and later if you wish you may go for conversion of the private limited company into the Public limited company. Private Company registration has less compliance when compared to the Public limited company compliances.

The word "Private Limited" must be added at the end of its name by a Registered Private Limited Company

Online Private Limited Company Registration

Not only private company, even public company or OPC registration  process is completely online now. Private Company registration is done on the MCA (Ministry of corporate affairs) Web portal. This makes the Private company registration suitable and easy. Now, one can register a company from anywhere in the world. One can access the MCA web portal and register the company.

For an online Private company registration, one needs to file e-forms online along with required documents. However one may also take the help of Private company registration expert to register its company. Swaritadvisors are the first choice of entrepreneurs willing to go for company registration.

By Swarit Advisors October 24, 2018

Non-Banking Financial Companies (NBFC) are primarily companies that are involved in financial activities like giving loans, providing advances, some NBFC’s can receive deposits, acquiring of stocks and shares, lease, hire-purchase, insurance business and chit business. Though an NBFC and a bank appear similar, there are few notable differences between the two –

·        An NBFC cannot issue cheques on itself

·        An NBFC is not covered under facilities like Deposit Insurance and Credit Guarantee Corporation.

·        An NBFC cannot function as a normal bank in terms of accepting demand deposits.

The Reserve Bank of India has complete jurisdiction over NBFC’s in India. Hence it is mandatory for an NBFC to acquire the NBFC registration or RBI license before the start of operations except for ones that are regulated by other bodies like the National Housing Bank, Insurance Regulatory and Development Authority of India, Securities, and Exchange Board of India, MCA or state governments.

NBFC Registration procedure            

In order to obtain NBFC registration from RBI, the company needs to fulfill certain criteria:-

·        The said NBFC needs to be mandatorily registered with the Ministry of Corporate Affairs as a private limited company or a public limited company, under the Companies Act 2013.

·        The minimum net owned fund of the company needs to be Rs. 200 lakh (2 crores)

·        One of the full-time directors of the said company needs to be from NBFC or banking background

·        The CBIL records of Directors need to be absolutely clean.

·        The principal business of the company needs to be a financial activity which means that the financial assets of the company are more than 50% of the total assets of the company and the income so derived from these assets should be more than 50% of the total income of the company.

NBFC Registration process constitutes of the following key steps:-

a.  The process starts with the approval of the company name from MCA. Post name approval, the NBFC needs to be registered with the Registrar of Companies. The Memorandum of Association and Articles of Association need to be drawn up before Incorporation. The object of the NBFC needs to be clearly mentioned in INC-1 as financing.

b.  The newly formed NBFC now is required to open a company bank account and the subscription amount needs to be deposited in the new account.

c.  To meet the criteria of Rs. 2 crores as net owned funds, the newly formed NBFC attain this amount by issuing shares to existing shareholders or new shareholders.

d.  The net owned fund of Rs. 2 crores once achieved needs to be deposited with the bank as a fixed deposit.

e.  An application form in the prescribed format needs to be now submitted online at RBI Website (COSMOS) or offline at the regional office of RBI. For applicants applying online, the hardcopy of the application form along with the required documents needs to be submitted at the regional office of RBI.

f.    The documents that need to be submitted are:-

·        Copies of the Incorporation certificate

·        Copies of Memorandum and Articles of Association highlighting the principle business clause.

·        Individual director profiles

·        PAN card copy of the NBFC

·        The fixed deposit certificate and bankers certificate copies

·        Banker’s report

·        Board resolution to the effect of the authorized signatory; absence of public deposit; no NBFC activity is being carried out; formulation of the code of Fair Practises.

·        Statutory auditors certification with respect to the NBFC not holding public deposit; not carrying out NBFC operations and confirming Net owned funds;

·        Complete details of the bank and company account

·        Audited balance sheet and P&L statement of last three years or for period available.

·        Detailed information on the Management

The requisite NBFC registration fee also needs to be deposited online for processing of the application. All the above documents and other related documents are scrutinized closely by RBI before the NBFC registration or RBI license is granted.

By Swarit Advisors October 17, 2018

Sole proprietorship:

A sole proprietorship is a single person firm registration. The owner is inseparable from the sole proprietorship which makes him liable for any business debts. Technically speaking although it is not a legal entity the setup, still, it is the universally accepted format. There is no formal requirement of the Sole proprietorship registration in India.

The owner is not required to pay the income tax separately for the company. The income is basically reported as the business income or losses by the owner in his /her individual income tax return.

However technically although you are not required to submit any sort of official paperwork for sole proprietorship registration, still to do business on ground level and depending on your state, county, or city, you may require rather have to obtain certain business license or permit, the kind of license or permit to be obtained will depend on the type of business you run.

Before you establish your business by sole proprietorship registration, do browse about the following:

1.    Do not forget to inquire with your state secretary of state to know about the rules in your location for sole proprietorship registration,

2.    Be aware of different terms given and used in that state where you are willing to establish your business, as certain states use different terms for this department.

3.    You might also require to check with the business division or another similar department to see if the type of business you want to form is operating there or not?

4.    Understand this that all states do allow corporations, partnerships, but with some variations on these basic business types.

Procedure for sole proprietorship Registration:

1.    To start a business via sole proprietorship registration is the easiest form of business, only for the sake of necessity required to run a business certain registration are required to obtain as given below:

2.    Decide your business name and if needed go for DBA

3.    Open a business current account to facilitate the transaction, this constitutes very important part of the sole proprietorship registration.

4.    To form a platform, it is advised to open a website, and

5.     Yes, finally hold on for some customers after Sole proprietorship registration.

The status of the sole proprietorship registration can be checked online at the MCA portal.

Legal Regulations after a sole proprietorship registration:

Taxes

All the revenues earned by the sole proprietorship is considered as the personal income, and personal taxes are to be paid under self-employment taxes and estimated taxes.  

Accounts

No legal filing requirement is imposed on sole proprietorship; still it is strongly recommended that after sole proprietorship registration one must definitely get the accounts properly maintained for traceability and better accountability.

Audits for a sole proprietorship in India

Audits for LLP are not mandatory, but we suggest you conduct your own internal audits, so as to know your defaults and loopholes if any.

MSME registration for sole proprietorship in India

 

Again it is not compulsory to register as an MSME; however, in your own interest, it is highly beneficial. The various scheme launched by the government for SMEs, and one can avail its benefits when MSME registraion is done.

Shop and Establishment Act License for Sole proprietorship in India

This license is to be obtained in accordance with the local laws. It is issued by the municipal party.

The business license apart from a sole proprietorship registration

On the basis of the type of business certain state or local permits and/or licenses are required to be obtained to operate your business via sole proprietorship registration.

DBA’s for a sole proprietorship in India

While proceeding fro sole proprietorship registration , sole proprietorship name is quite important and in case is not in your own name in such cases, you require to obtain DBA.DBA form is required to be filled in such cases. However, not all states require DBA or “fictitious name” forms in that case.

Keep in mind about the following :

1.    Do avail the business license as applicable in your locality after Sole proprietorship registration.

2.    Apply to the state for applicable sales tax permits and pay property tax on any real property (land and buildings) of yours.

3.     C ollect and pay the GST on taxable goods and services sold.

4.    If your sole proprietorship employs certain employees pay employment taxes.

Source url - http://swaritadvisors.strikingly.com/blog/sole-proprietorship-registration-how-with-expert-help

 

 

 

 

By Swarit Advisors October 16, 2018

If you are going to start your business related to goods and services then applying for GST Registration is the very first thing that needs your attention. So if you are unclear about the eligibility criteria, online GST registration procedure, fees structure, and anything then this article will be a complete guide for you. Let’s understand its meaning and importance firstly.

GST registration is the process in which we apply for goods and products business registration as a normal taxpayer only when the turnover exceeds the amount of Rs 20 lakhs only. The threshold limit in North Eastern & Hilly States is about Rs 10 lakhs. If you are carrying your business without the registration then you will be considered as the defaulter in the eye of law and you will be liable to pay a heavy penalty. Any business whose turnover exceeds the limit of Rs 20 lakhs are supposed to apply for GST registration. Businesses that are registered under the pre-GST regime such as Excise, Service Tax, VAT, will also be registered under GST.

Businesses that are mandatory to be registered Under GST irrespective of the turnover: -

·        Every business that is already registered under the VAT, Excise, Service Tax, etc.

·        A casual taxable person,

·        Input service distributor,

·        Non-resident taxable payer,

·        If a business is transferred to any other party then the transferee will be responsible for registering his business w.e.f the date of the transfer.

·        A person who supplies via e-commerce aggregator.

What Are The Documents Required For GST Registration?

·        Valid bank account number & details from India,

·        Valid Permanent Account Number(PAN)

·        Valid phone number & email address,

·        Prescribed documents & information on mandatory fields of the registration application,

·        Address of the Place of the business,

How To Hire Expert for GST Registration Procedure?

You may get started with the online GST registration procedure via the Government GST online portal or GST Seva Kendra. We can provide you a step-by-step guide on how to register under the GST . Swarit Advisors is the best consulting firm where experts are 24*7 hr available to help you. You need to contact us through the phone number or the email so that we can approach you.

What is the Fee for the GST Registration?

There is no registration fee for GST, you simply need to log in to the online GST portal and follow the steps required for the GST registration process. In a business gets fail to register under GST then he has to pay the penalty of about 10% of the amount due, subject to a minimum of Rs 10,000. If the tax evasion is intentional then the penalty will be liable to 100% of the due tax amount.

If a business is carried out in a different state then separate registration for each state is required. There is a scheme called GST Composition Scheme, where firms can pay tax as a fixed percentage of their turnover. It is a convenient tax scheme for small and medium enterprises. A dealer who deals only in the intra-state of goods and service of restaurant sector may avail composition scheme, or who don’t supply non-taxable goods or not an e-commerce operator, or pays tax at normal rates, or is not a manufacturer of ice-cream, tobacco or pan masala, etc. The floor rate of tax for the CGST &SGST should not be less than 1%. And the turnover of an enterprise must be upto 1.5 crore Rs, whereas in the case of the North-Eastern States or Himachal Pradesh it should be 75 lakh Rs only.

If you have any queries in your mind or need to hire a professional then you are at the right platform where we provide guidelines to avoid technical issues while applying online for the GST Registration. We are just a call away from you.

Source url - https://swaritadvisors.puzl.com/_news/Get-Complete-Guide-for-GST-Registration-Online-Eligibility/132663

 

By Swarit Advisors October 1, 2018

A Producer Company is an organization which fundamentally deals with agriculture and its activities. Famers in India are chaotic and they are unaware of new innovations or assets that they require for their farming resources. A Producer Company comprises of agriculturists as members who altogether run the organization. This empowers them to accomplish economies of scale, spare expenses and receive benefits while working together.

In order to shape a Producer Company, you will require -

·        No less than 5 Directors,

·        Minimum paid up capital of Rs. 5,00,000,

·        At least 10 Members i.e. Investors or Shareholders,

Swarit Advisors in India is one of the leading consulting firms which help in applying online for the legal registration process for our customers who approach us. You may anytime take the experts help by dialing our phone number.

Why Does The Producer Companies are So Famous?

There are following mentioned key highlights that make it demanding have a look at them:-

·        Isolate legal entity with limited liability and never-ending presence,

·        Higher Credibility of Business, acquiring better negotiability and huge contracts and deals,

·        Permitted to acknowledge deposits and giving loans to its individuals without interest,

·        Straightforward and simple compliances,

Know the Documents Required for Producer Company Registration

·        A copy of Director's PAN Card, Aadhaar Card or Voter ID Card, and Passport Size Photograph,

·        Statements and Affidavits from Directors and Members,

·        A copy of Rental Agreement, Electricity or Water Bill, Property Papers,

·        The Digital Signature Certificate (DSC) of all the directors is required.

What is the Online Procedure for Producer Company Registration?

Once you provide the above mentioned required documents to your professional who is guiding you then the expert will review the details and may or may not ask questions to you, to understand what additional documents who will be required to submit during the registration process. Now the digital signature will be applied and DIN as well if required. The professional will then continue for the name approval application with the Ministry of the Corporate Affairs (MCA). You should propose three unique names for the Producer Company out of which one will be endorsed. The expert will help you to suggest an appropriate name.

During this process, the Memorandum of Association (MOA) and Articles of Association (AOA) must be drafted and once the name approval is done, the MOA and AOA will be submitted to MCA alongside the Share Subscription Statement. After this, the tax expert will track your status of producer company registration application and will inform you, once the registration is done. Once the registration is approved, the MCA will issue your Certificate of Incorporation.

What Are The Fees and Time Required for Producer Company Registration?

The entire procedure of online registration of Producer Company can be finished in about 25-30 days. Once you get in touch with experts at Swarit Advisors you may get immediate assistance and we will let you know about the complete package that is required for the registration process. You may hire a superior skilled professional at your end in case if you find trouble in applying online for the registration of your producer company.

Why You Must Opt for Swarit Advisors for Producer Company Registration?

·        We have a team of experienced and qualified experts with a long time period of experience.

·        You can easily get an access to the highly qualified experts anytime, anywhere in India.

·        We give cost-effective solutions to our customers. No hidden charges or long-haul commitments.

·        100% guaranteed solutions as customer satisfaction is of utmost importance to us. Our unconditional promise ensures that you get finish fulfilment, each time you pick our administrations.

·        We deliver what we commit on time,

·        Our dedicated team experts are constantly available to support you 24/7 hr.

All you can do is dial our phone number or drop us an email to us whenever you need help and support. We will feel glad to help you.

Source url - http://swaritadvisors.over-blog.com/2018/10/why-do-we-need-producer-company-registration-in-india.html

By Swarit Advisors September 22, 2018

We by law, have a section 12 of the companies’ act of 2013 that states that it is mandatory for every company that has ever been incorporated to have their registered office. Their office must be in existence from the 15th day of the company’s incorporation and it will be the main location of the office or the address where all the work-related posts, acknowledgments will be sent and communications will be made. Also, all of the verifications should be done of the respective company’s registered office with the registrar within the period of 30 days from the date of the company’s incorporation.

In case of any changes made in the location of your company’s registered office then it has to be notified with the registrar of companies or ROC within the time period of 15 days via the form number INC-22. For the purpose of verification of the location of your company’s new registered office or the change in the location of the registered office , the Indian government has prescribed certain rules and its rule number 25 and 27 to be precise under the companies rules of the year 2014.

Rule 27 –prescribes the notice and verification of the change in location of a company’s registered office.

The notice is regarding the change in the registered office and its verification is to be done via form INC-22 along with the fees that is prescribed for it. The required documents are also prescribed under the sub-section of section 12 and these documents required for the verification purpose are as follows:-

1)    If your company’s registered office is owned by your company, then a document called “conveyance deed of the respective property in the name of your company will be required.

2)    If the property on which your company’s registered office is placed is rented property then the copy of the lease deed document or a rental agreement will be required.

3)    If that property is owned by you or the director then no such lease agreement copy will be required, rather a proof of the fact that the company office can operate will be required which can be in the form of a NOC from the owner (if one of the members of your company).

4)    The copies of the most recent utility bills like your phone bill, electricity bill, water bill, and the gas bill can be submitted.

The company must pass a certain resolution by the board as it could be a board resolution or the special resolution.

Change in registered office for the different state.

Here you will have to make changes in the memorandum of association for the change in registered office of company from your current state to the one you are wishing to. You will have to pass a special resolution through your company with regard to the change in MOA and to be then filed with the ROC form MGT-14 along with the INC-22. The time frame for filing of MGT-14 is 30 days. You will also need an approval of the CG through the form number INC-23 with following documents.

1)    Copy of special resolution that you passed regarding the change.

2)    Copy of the MOA and AOA with the alterations.

3)    Copy of notice for the general meeting.

4)    The list of all creditors and debenture holders

5)    Copy of power of attorney.

6)    And any documents regarding the fees or transaction of fee payment.

The central government will dispose the change you want in the registered office’s location and it could take around 60 days and the registrar of companies in the new state where you have shifted your registered office will register it.

Source url https://swaritadvisors.puzl.com/_news/The-Process-to-Change-the-Registered-Office-in-India/129960

 

By Swarit Advisors September 19, 2018

Limited Liability Partnership is a form of legal entity in which all the partners or some partners have a set of limited liabilities and their responsibilities in the business are limited.

Key Points to Remember:

It is generally run by the partnership and cooperation between the partners for which they need to be very reliable and thus it involves a lot of trust risk.

     Each partner will have their own responsibility and liability and no other partner shall be responsible for the other partner’s liability or mistakes.

     Unlike traditional partnerships where all the partners have equal and unlimited liabilities here everyone has their own limited liability.

     All the partners are the stakeholders; however, they are given direct access to control and monitor the business directly which is not given to stakeholders in the corporation.

     That is why the board of Directors is needed for a corporate company and for Limited Liability Partnership there are no such requirements.

     The taxation policy for an LLP is different from companies and is much simpler and small in comparison to them.

In many countries like India in case of a Limited partnership, there exist at least one partner who has the unlimited liabilities and the other partners may be allowed to the limited liability investor and in return, their role will be passive. Thus in such countries, it’s better to choose an LLP as a form of business in comparison to a limited partnership so that all the partners enjoy an active role in the business. All the LLPs in India are registered under the Limited Liability Partnership Act, 2008.

Benefits of a Limited Liability Partnership:

vThe internal structure of an LLP is less complex and easy to organize in comparison to a company.

vYou can have any number of partners and there is no legal maximum number of partners required for an LLP however, obviously the minimum required number is 2.

vThe fundraising and utilization is completely dependent on the partner’s will and say. However they have to follow the rules of Companies Act 2013.

vYou can save your amount of Dividend Distribution Tax, as you do not have to pay it for LLP while in case of the company it’s compulsory.

vIt’s very useful for professional like the Doctors, Advocates, Chartered Accountant and Engineers to register themselves as LLP.

vThere is no such minimum amount of capital that is required to start an LLP, unlike a company which requires certain fixed minimum funds to be invested.

vThere are no compulsory audits required, unlike companies where regular audits are mandatory.

Disadvantages of a Limited Liability Partnership

vThe LLP cannot raise money or funds from the public.

vThe act of one partner without the consent of another partner may bind the LLP.

How to Register for an LLP?

vThe First step is to get the digital signatures of all the partners.

vAll the partners need to apply for DIN i.e. Director Identification Number which is mandatory to become a partner.

vApply for the approval of the name of the LLP.

vGet the Certificate of Incorporation from Indian Registrar of Companies as it is a proof of registration.

vThen apply for the PAN (Permanent Account Number) of LLP.

vFile all the related documents of the LLP and also apply for the current bank account which is a mandate.

Source url http://swaritadvisors.olanola.com/blog/43646132809/What-exactly-is-LLP,-its-advantages-&-disadvantages-and-process-

By Swarit Advisors September 18, 2018

A sole proprietorship is a kind of a business too but unregistered one. And it’s owned by one person only. He is the only one to control and manage it.A Sole proprietorship is also a very common form of business in India and used by those mostly who are into the micro and small businesses that operate in an unorganized sector. The Sole proprietorships are rather easy to start as well and require a very minimal amount of regulatory compliance to operate. However, what’s different in them is that once the promotion phase is over, it doesn’t offer its promotor the kind of host of benefits like the private limited companies like a limited liability partnership, a certain corporate status in the business market, existence as a separate legal entity, any degree of transferability etc.

These are such desirable features of any form of business that the sole proprietorship lacks. And this is why a sole proprietorship is rather a suited form of business for only the unorganized small sized businesses that are to remain small and for a limited time period of existence.There’s as such no mechanism that has been provided by the government of India for registering the sole proprietorships. Now because there’s no proper way of sole proprietorship Registration , it will require other ways to prove its existence like through tax registrations and other kinds of business registrations that usually a business requires under the rules and regulations. Now for an instanceGST registration can have the name of the supposed proprietor for the sake of establishment of the proprietor's business as a sole proprietorship. This is why the Registrations of the Proprietorship will be in the name of its Proprietor which would make him the solely liable for all the responsibilities and other liabilities of the sole proprietorship business.

An average of 3 to 5 days are needed for complete registration of the sole proprietorship through means of other registrations.

Reasons to Register a Proprietorship Firm

1)               Easy to start –It’s easy to start because of the minimal requirements for formalities etc. but yes, it will be relatively harder for a sole proprietor to open up a bank account for obtaining a gateway for payments in the name of their businesses because more of the VAT, service and GST registrations are required.

2)               Its business name – Because the name of the sole proprietorship isn’t exactly registered, it could easily have any name and use it as long as it’s not someone’s registered trademark. The con here would be the fact that because it is not a registered one, anyone can use it too.

3)               It has LowerTaxes –The sole proprietorships that are with an income of less than Rs3 lakhs need not to pay any income tax.

4)               Single Promoter –Sole proprietorship is the only kind of entity that has only one promotor

5)               Easy to Close –The sole proprietorships are for small legal purposes and there’s just never a formality for shutting it down. In most of the cases, for closing the proprietorship only the tax registration that has been done in the name of the sole proprietor needs to be cancelled.

Source url - https://swaritadvisors.puzl.com/_news/Steps-to-Register-a-Proprietorship-Firm-in-India/129464

 

By Swarit Advisors September 13, 2018

Before Goods and Service tax was introduced dealers were required to be registered under stare value added tax laws and similarly service providers were required to get Service Tax Registration. Other than these there were various other indirect taxes imposed on different products. However, after introduction of GST all these indirect taxes are replaced by one single Goods and service Tax. This is done with an objective of simplification of taxation system in India and curbing the money laundering practices done by many.

This is a totally online system where starting from registration, return filing and all other things can be done online. This is done with an objective of ease of doing business.

Steps involved in GST Registration

Any business can apply for GST registration irrespective of its form. Applicant can be a sole proprietor, partnership firm, limited liability partnership, a registered company etc. The applicant is required to follow the following steps:

Under GST Registration process taxpayer is required to follow the following steps:

  • The initial step is to open the GST Portal
  • Select the ‘New Registration’ option from the Services menu.
  • Fill in Part A of Form GST REG-01. Submit the form after filling in the following information;

ØNature of applicant

ØPlace of business

ØLegal name of business

ØPAN No. of the applicant

ØContact details including mobile no. and email Id

  • OTP will be sent to the email Id and mobile number mentioned. Verify both the OTPs on the portal. After verification TRN will be generated.
  • The applicant shall login on the portal using the TRN
  • Fill in all the required information on Part B of Form GST REG-02.
  • Upload scanned copies of all the required documents
  • Submit the registration form and in some time Application Reference Number (ARN) will be issued. You can track the status of the application using ARN
  • Once the registration form is filled and submitted it is checked by the GST officer
  • If there are any issues identified by the GST officer in the application then he will communicate to the same to the applicant through an email within 3 days.
  • The applicant is required to provide the documentation or verification required by the department within stipulated time period.
  • If after due verification of the submissions, the officer is satisfied then GST Registration Certificate in FORM GST REG-06 will be issued to the applicant.

Documents Required in the Process of GST Registration

In case of an Individual

  • A passport Size photograph
  • PAN Card
  • Aadhaar Card
  • Bank details of the applicant( Cancelled cheque or latest bank statement)
  • Registered office details.

ØIf it is a self owned property then copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

ØIf it is a Rented property then Rent agreement and copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

In case of a Firm/ Limited Liability Partnership

  • Passport Size Photograph of the All partners
  • Pan Card of the All partners
  • Aadhaar card of the All partners
  • Copy of Partnership Deed
  • Bank details of the applicant( Cancelled cheque or latest bank statement)
  • Registered office details.

ØIf it is a self owned property then copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

ØIf it is a Rented property then Rent agreement and copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

  • Authorization letter signed by all partners to authorize one of the partner to execute all the GST related documentation on behalf of the Firm
  • In Case of LLP, following are also required;

ØDSC of Authorized signatory

ØCertificate of incorporation issued by the MCA

In case of a Company

  • Passport Size Photograph of the All Directors/Shareholders
  • Pan Card of the All Directors/Shareholders
  • Aadhaar card of the All Directors/Shareholders
  • Bank details of the applicant( Cancelled cheque or latest bank statement)
  • Registered office details.

ØIf it is a self owned property then copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

ØIf it is a Rented property then Rent agreement and copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

  • Certificate of incorporation of the company issued by the registrar of companies
  • Board Resolution issued on the letterhead of the applicant company authorizing one director of the company to execute all the GST registration related documentation on behalf of the company
  • DSC of the authorized Director.

We are a Pan India Based Consultant. No matter where you are based, if you need any guidance in GST registration and Return Filing under GST you can contact our group of consultants.

Source url- https://swaritadvisors.puzl.com/_news/Online-GST-Registration-Procedure/128969

By Swarit Advisors August 13, 2018

With the Goods and Services Tax system, that was introduced in India in 2017, all other forms of indirect taxes that include central excise duty, service tax, additional custom duty tax, surcharge, state-level VAT   and Octroi – all of them got abolished at one go. GST is applicable on all types of transactions involving goods and services including sale, transfer, purchase, barter, lease and import. One of the main advantages of GST is that the GST registration procedure has been simplified and can be done online from the official GST portal.

All small business units or taxable persons whose annual turnover is less than 1 crore can opt for the GST composition scheme for GST Registration in India. For the North-eastern states and Himachal Pradesh the limit is Rs. 75 lakh. The main benefit of the Composition Scheme is that the business unit needs to follow lesser compliances like returns, invoices etc; have limited tax liability and high liquidity with lower tax rates. In this case, the taxpayer cannot raise a tax invoice which means that he cannot charge tax from his customers – he has to pay the tax himself and thereby raise a Bill of Supply.

On the other hand, for businesses that are not registered under the Composition scheme can carry out inter-state trade nor can they take input tax credit. These composition taxpayers are not eligible for supplying GST exempted goods or any other goods through e-commerce platforms. Taxable persons that cannot avail the Composition scheme are –ones who supply exempted goods, supplier of services, manufacturers of ice cream, pan masalas and tobacco, non-resident taxable persons and business that sell via e-commerce.

How to apply for the Composition Scheme?

All taxpayers who are eligible for the Composition Scheme can do so from the GST portal for GST Registration. The taxpayer needs to inform the Government at the beginning of each financial year that he wants to opt for the Scheme via and apply the GSTCMP-02 application.

The words ‘composition taxable person’ needs to be mentioned on all Bills of Supply as well as on all notices and signboards and need to be displayed at a visible location at the place of business.

Application process for the Composition Scheme

The CMP – 02 is a form that needs to be filled up by a taxable person who wants to opt for the Scheme during the middle of the financial year. The rules of the scheme in this case apply from a month prior to filling up of the form.

TheCMP-02 needs to be filled up at the GST Registration online  site.

a.      Log in to the GST official website

b.    Select Services and then select Registration. Under this click for Application to Opt for Composition Levy.

c.      Tick on the Composition Declaration and Verification after reading it thoroughly.

d.    Select the Name of Authorized Signatory and enter the place. Click on Save button.

e.      Submit the application with the Digital Signature Certificate.

f.      A pop up with a warning will show up. Click proceed.

g.    The application is now submitted and an acknowledgement will be emailed and smsed to the registered email id and phone number.

The composition taxpayer needs to file GST CMP-03 within 3 months. The form details out the stock held by the taxpayer at the time of opting for the scheme.

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