Due to the Digital India Initiative, a company can be incorporated electronically now using the online website of the Ministry of Corporate Affairs.

Documents for company registration in India

The mandatory documents required for company registration in India are:-

• Identity proof of directors – PAN (Permanent Account Number) card for Indian nationals
• Address proof of directors – permissible documents are Passport, Drivers License, Voters Card, electricity bill, water bill, phone bill, Aadhar card
• Residential proof – the name of the Director must be clearly mentioned. Residential proof can be submitted in the form bank statement, electricity bill, telephone bill, mobile phone bill – these must not be more than 2 months old.
• In case of directors of foreign nationality, passport is mandatorily required. Other than that address proof of the person needs to be submitted – documents accepted are driving license, residence card, bank statement or official ID issued by the Government clearly mentioning the address. Residential address proof also needs to be filed – documents accepted are bank statement, electricity bill, telephone and mobile bills. All these documents cannot be more than a year old.
• Address proof of the registered office – documents that are accepted are either the notarized lease or rent agreement with a rent receipt copy of the previous month or  registration of the title of the premises. Alongside, no-objection certificate from the landlord as well as copy of any utility bill like telephone, gas, electricity etc are also mandatorily required.
• Identity and address proof of all shareholders of the company needs to be submitted
• In case of a shareholder being a corporate body like a Private Limited Company or LLP, the certificate of incorporation of the corporate is required along with the Board resolution of subscription to the shares of the new company to be incorporated.
• Other than the above documents, Forms SPICe – INC- 32 needs to be filed with the Ministry of Corporate Affairs. eMOA (INC-33) and eAOA (INC-34) are the default forms that need to be submitted.

Private Limited companies are one of the most popular types of business entities in the Indian market. For private limited company registration in India, the company needs to have minimum 2 directors and maximum 15 directors on Board. 

Company Registration Process

• The first step in the Company Registration process is to reserve the name of the company prior to filing for incorporation using the RUN service. It is the onus of the stakeholders to ensure that the proposed name of the company does not contain any word that is prohibited under Section 4(2) & (3) of Companies Act, 2013 along with Rule 8 of the Companies (Incorporation) Rules, 2014. Alongside it is for the stakeholders to check for Trademark search so that it is not in violation to provisions of Section 4(2). The proposed name of the company can be checked online at the website of the Ministry of Corporate Affairs http://www.mca.gov.in/mcafoportal/showCheckCompanyName.do.
• Digital Signature of the Directors of the company need to be obtained before filing for company registration. 
• Submitting the SPICe Form at the MCA website digitally. Many would-be companies skip the RUN step and directly submit with the proposed name on the SPICe Form. If the name is available, the certificate of incorporation is granted. If the name has already been taken, the application is rejected and the form and the documents are required to be re-submitted with a new proposed name.
• The certificate of incorporation is granted within a day or so after submission or e-filing of the Form along with the required documents. The Company Permanent Account Number is also granted simultaneously.

Source url - http://swaritadvisors.blog.fc2.com/blog-entry-47.html

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:

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

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.

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?

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

Procedure for sole proprietorship Registration:

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:

Decide your business name and if needed go for DBA

• Open a business current account to facilitate the transaction, this constitutes very important part of the  sole proprietorship registration.
• To form a platform, it is advised to open a website, and
• 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:

• Do avail the business license as applicable in your locality after Sole proprietorship registration.
• Apply to the state for applicable sales tax permits and pay property tax on any real property (land and buildings) of yours.
• Collect and pay the GST on taxable goods and services sold.
• If your sole proprietorship employs certain employees pay employment taxes.

Source url - https://swaritadvisors.puzl.com/_news/Sole-proprietorship-registration-How-with-Expert-Help/132823

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 - http://swaritadvisors.zumvu.com/get-complete-guide-for-gst-registration-online

When you plan to enlarge your business then you go abroad to grab benefits and spread the name and fame for your brand but understand the fact that before you even think of stepping into the import and export of any goods or services, accordingly you will have to acquire an Import Export Code. This legally mandatory code is called as import and export code or in short IEC code. Without obtaining this, you can start import and export business. There are also some benefits and subsidies from customs and export promotion council, so it is important to know the importance of IEC registration in India.

Now this article, will tell you everything that you need to know about the IEC registration so you can get a direction on how you can get one for yourself too. Let’s start with some more details of IEC registration. Import export Code will be a unique number of 10 digits assigned to you only which could be registered either on your business name or on your own personal name. From IEC registration you will get a validation for all of the respective units and their divisions, your factories and their branches and it will remain valid for a lifetime. There is no limited time period for re-registration so this is so far one of the best things about IEC Registration.

What are the steps required for IEC registration?

• First we will start with the preparation of the application for which you will have to fill theAyaatNiryaatForm-2A to the DGFT in the respective region of your location of registered office. However, now Indian government has also started up with this facility of getting IEC registration online.
• Next is the processing of your application for IEC registration, for which you have to submit all the documents, details regarding your business and type of business you want to do along with the bank account details via form ANF2A along with a much required digital signature if you are getting your IEC registration online. 
• Now once you are ready with the submission, just pay IEC registration fees to the Indian government (IEC registration department). Now there will be chances that the department may not be satisfied with your application or might want you to correct or add certain details or documents then you will be contacted regarding that and you must reply and resolve the issue within the 15 days time period to the DGFT.
• Finally, after the completion of your IEC registration application and the completion of the verification of your application by the IEC department, the DGFT (directorate general of the foreign trades) will grant you much awaited IEC registration certificate carrying an IEC code for your business according to your application that you have applied. This certification will come in both forms a soft copy and a hard copy. Soft copy comes up faster as it can easily be mailed and you can start with the import and export business the moment you get your IEC code.

We at Swarit Advisors are 24*7 hr available to help you whenever you need. All you have to do is to make a call on our phone number, our representatives will shortly answer to resolve your issues that you might be facing in applying for online IEC Registration. We have best skilled experts to guide you all the way long.

Source url - https://swaritadvisors18.wixsite.com/mysite/blog/what-experts-are-saying-about-online-iec-registration-in-india

Are you planning to start your food retail business in India, then you need to get a license from Food Safety & Standard Authority of India (FSSAI), Ministry of Family Health & Welfare Government of India. This license is provided for the safety and standardization of food which is manufactured and sold in India. Without the FSSAI License no wholesaler or retailer will stock your products.

What is FSSAI?

FSSAI act for setting the scientific standards for the food products, in order to regulate storage, manufacturing, distribution, selling and import. It is mandatory for startup food businesses to enter their retail business to apply for FSSAI Registration. The Government of India took an initiative to avoid the alteration issues and low-quality food products.

FSSAI License is divided into three categories:- 

• FSSAI Basic Registration: - it is for small-scale businesses who are having a turnover of 12 Lakh Rs or less than that on yearly basis.
• FSSAI State License:- It is for businesses having a turnover of Rs 12 lakh but less than 20 crore Rs in a year.
• FSSAI Central License: - it is for those businesses whose turnover is more than 20 crore Rs in a year, or one who are involved in any kind of import or export business. This license is required for any food-related business and it is a 14-digit number that you can use.

If you want to open your outlets in more than one state then you need to apply for Central FSSAI License for registered office and state FSSAI License for the individual unit.

Who Will Require FSSAI License Registration In India?

Any enterprises who are involved in the import, packaging, storage, manufacture, processing, and distribution of food items, need to require this license. Once you apply for this license online you will be provided with a 14-digit registration number.

You need to fill the application Form B that is mentioned in the Food Safety & Standards, Regulations 2011.Check the type of the FSSAI License that you require before filing the application. If you need you may hire a professional who can guide you with proper steps to follow and in the preparation of documents.

Go Through The Procedure of FSSAI License

You need to attach the following with the application form and then submit it to the Licensing Authority whether it is State or Central.

• Self-attested declaration as mentioned in the Annexure 1.
• Copies of the documents mentioned in Annexure 2 of Regulations,
• Fees are prescribed in the Schedule 3 depending upon the category of the food business.

The List of Documents That You Need To Include for FSSAI Registration

• List of food categories that you manufacture, package and process,
• The Layout of the distribution, manufacturing and storage facility,
• Food analysis report demanded by FSSAI,
• Raw material source & NOC from local municipality,
• Photo identity and business name,
• Proof of possession of premises i.e. Rental Agreement.
• Partnership deed, Certificate of Incorporation,

If in case, Licensing Authority requires any additional information related to your application if found incomplete then you will be informed within 15 days of your application. You must provide the information within 30 days from the intimation date. If you failed to submit your additional information then your application filed for the food license will be rejected.

For more details contact experts at Swarit Advisors, we are a renowned leading consulting firm to offer best solutions. We have a fully qualified team of experts to support you whenever you reach us.

Source url https://swaritadvisors18.wixsite.com/mysite/blog/get-complete-guidance-for-fssai-license-registration

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 15^th 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:-

• 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.
• 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.
• 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).
• 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.

• Copy of special resolution that you passed regarding the change.
• Copy of the MOA and AOA with the alterations.
• Copy of notice for the general meeting.
• The list of all creditors and debenture holders
• Copy of power of attorney.
• 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://swarit-advisors1.odoo.com/the-process-to-change-the-registered-office-in-india

In this article, I will give you a detailed description of exactly what one person company is, how you may get a one person company registration and pros and cons related to it. Each heading below will guide you the details.

What is One Person Company (OPC)?

The one person company is a form of business and it is a newly introduced concept in the company’s act 2013. It is an easy form of business. Unlike the private limited companies and public limited companies which require minimum two directors and three directors respectively and a minimum of two members and seven members respectively, One person company requires only one person, just as the name suggests.

As per the section 2(62) of the company’s act of 2013, a company can be incorporated by one person only and the member and director remain the same person in company.

Prerequisites for One Person Company Registration

• In any case, when you have a plan of owning any kind of business, you must have is a digital signature. It’s a way to digitally sign forms electronically. Now how will you get your DSC? Well, certifying authority can issue a DSC. For DSC, following documents will be required such as residential address proof, Copy of Aadhaar card, Copy of PAN, a passport sized photograph and e-mail address and registered mobile phone number. Once these all are submitted, DSC will be issued to you.
• Another important document as the director of the company, you should have a DIN which is a short abbreviation for director identification number. This will require your details like residential address proof etc and you will eventually get your DIN.
• Note: All the companies that have been incorporated after January 2018 onwards will not have to separately apply for a DIN as they may do it with the SPICe form. This can be done for up to 3 directors.
• Now you must get an approval for the name of your choice for your respective one person company. You may pick a name most relevant to your business operations activities. For this, application is made in RUN form with the ministry of corporate affairs.
• Coming to the preparation of the documents required for applying for one person company registration. These documents must be submitted to the registrar of companies, also known as ROC.
• Following is the list of documents.
• MOA:- Memorandum of association or MOA contains the objectives that are to be followed by the one person company.
• AOA:- Article of Association, lays down the set of rules & regarding the operations of the company under the law.
• Hire a nominee:- Because only one person is the director and member of the one person company, one must have a nominee in case something happens to the main director or in case he is no longer capable of performing his duties. The nominee will take over the duties in such a case. The consent will be taken through the form number INC-3 along with the nominee’s documents like the PAN card number and Aadhar card number etc.
• A proof for your registered office will be required too. If the ownership is in your name, you may provide with the copy of your office’s utility bills which will be in your name or NOC from your landlord along with the rental agreement.
• Affidavit and consent via INC-9 and DIR-2 forms.
• Declaration by a practicing professional.

Once all prepared, submit it to the ROC and in a few days after verification of your documents and application you will be granted your registration certificate.

The procedural steps of one person company registration. (Summarized)

Step 1: Apply for DSC.

Step 3: Name Approval Application.

Step 4: Filing of incorporation forms along with the required documents with MCA.

These are the summarized steps for the online procedure for one person company registration, for more details you may get in touch with Swarit Advisors that are 24/7 hr available at your end.

Source url - http://swaritadvisors.olanola.com/blog/43019576114/One-Person-Company-Registration-Procedure-in-India

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:

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

You 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.

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

You 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.

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

There 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.

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

Disadvantages of a Limited Liability Partnership

The LLP cannot raise money or funds from the public.

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

How to Register for an LLP?

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

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

Apply for the approval of the name of the LLP.

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

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

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

Source url http://swaritadvisors.blogrip.com/2018/09/19/what-exactly-is-llp-its-advantages-disadvantages-and-process-of-registration/

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

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.

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.

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

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

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.dudaone.com/steps-to-register-a-proprietorship-firm-in-india

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;

• Nature of applicant
• Place of business
• Legal name of business
• PAN No. of the applicant
• Contact 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.

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

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

• DSC of Authorized signatory
• Certificate 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.

• If it is a self owned property then copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)
• If 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- http://swaritadvisors.dudaone.com/online-gst-registration-procedure

In this article, we are going to discuss the online process of an NBFC or the non-banking financial company and the process of the NBFC Registration. Let us start with what it is first.

WHAT IS A NON-BANKING FINANCIAL COMPANY (NBFC)?

Non-banking financial company or as its short abbreviation is NBFC is a kind of registered company that gets registered under the company’s act. These NBFCs get engaged in businesses like lending loans and other advances. It also gets involved with the acquisitions of banking like activities such as shares, stocks, debentures, bonds and securities. All of which are issued by the government or the local authorities.

The principal business of receiving deposits is followed by a non-banking financial company under a scheme or a certain arrangement in a one lump sum amount or in instalments by the way of contributing or perhaps in another certain manner. This also falls under the non-banking financial company activity (a residuary non-banking financial company).

WHAT IS THE DIFFERENCE BETWEEN BANKS & NBFCS?

Non-banking financial companies lend money and make certain investments and this is why their activities are recognized to be similar to that of a bank’s activities. However, there are still some differences that are put below in points:-

• NBFC cannot accept demand deposits,
• Unlike in the case of banks, Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs.
• NBFCs doesn’t form a part of the payment and settlement system and cannot issue cheques drawn on itself,

WHAT ARE THE REQUIREMENTS FOR REGISTRATION WITH RBI?

Non-banking financial company that has been incorporated under the company’s act of and wishes to commence a business of the non-banking financial company as a financial institution then they must get NBFC Registration.

The NBFC Registration has to be done under section 45 I (a) of the reserve bank of India act of 1934 and it must comply with the following: –

• A company must get registered under Companies Act, 2013.
• And it should have a minimum net owned fund of Rs 200 lakhs.

WHAT IS THE PROCEDURE FOR APPLICATION TO THE RESERVE BANK OF INDIA FOR NBFC REGISTRATION?

• The company that is applying for NBFC Registration is required to apply file for an application online and then submit a physical copy of that application (print out) to the regional office of the reserve bank of India. The filing for the NBFC Registration application has to be done through the official website of RBI, which is cosmos.rbi.org.in
• At this stage, there won’t be any need for logging in to the cosmos application and this is why there will be no requirement for user id. Your company can simply click on the company registration on the main log-in page and you will be redirected to a window that will show an excel application form that is available for being downloaded. The company may download this form and fill in the information requested.
• The company should put in the correct name of the respective regional office in the field C 8 of the Annex i.e. identification of particulars into the online excel NBFC Registration application form.
• Now after following through the above steps, the applicant company shall then receive a reference number for the COR application that’s been filled online. After which the applicant can submit the copy of this online form (this time indicating the online Company application reference number. This along with the requested list of required documents) has to be then submitted to the regional office too.
• Now the company can further easily check for their NBFC Registration application status by filling in the given acknowledgement number until they finally receive their NBFC Registration certificate.

For more details, you may anytime contact Swarit Advisors as we are 247 hr available to serve our customers in any online legal processes of registrations.

Source link: https://swaritadvisors.hatenablog.com/entry/importance-and-process-of-nbfc-registration-in-india

In our blog, we will discuss the basic details of MSME Registration in India. Here we will provide the very basic information regarding MSME Registration, why to get an MSME Registration? and some basics on the online procedure of MSME Registration, where most of the people need experts help and guidance.

What is an MSME & What is the need of MSME Registration?

MSME is micro small medium enterprises. It’s the similar, rather falls under same category as SSI which is small scale industry. Both of these MSME and SSI Registration benefits are given under the Udyog Aadhaar. Both being the foundations of the economy in India almost like a backbone. The Indian government supports and promotes these businesses through many different schemes and rights over benefits. It’s their way to encourage more such Businesses.  These benefits, for example, are like power rates of interests over loans and other rules favouring the business owners with regard to the settlement of disputesin a limited time period etc. But these benefits are limited to those who have done MSME Registration only. And this is why despite the fact that if you have a business, MSME Registration is not compulsory but one must get an MSME Registration just to avail for the government benefits.

What Are The Laws Related to The MSME Registration?

MSME Registration application is prepared and applied under the MSMED act. These MSMEs could be in both, service sector and manufacturing sector. The MSME Registration has a classification of categories depending on the type of operations the business does and the amount of annual turnover they make.

Following is how the three categories can be divided: –

Types of MSME Registration based on their size, Investment, and turnovers.

• Micro Enterprises- The micro enterprise Businesses under the MSME Registration is the smallest in size and the criteria for falling under this category is as followed:-
• The Investment made in the sector of manufacture must not be more than the amount of Rs. 25 lakhs
• And in case your business is of the service sector type, then the investments made should be less than Rs 10 lakhs.
• Small Enterprises-  This is the 2^nd and the middle of the three sizes of categories, the small-sized enterprise. To get an MSME Registration under small enterprise category is as follows:-
• In the sector of manufacture, the Investment made must not exceed the amount of Rs 5 crores. But it must be more than the amount invested in micro-sized industries which is Rs. 25 lakhs.
• Now similarly, looking at the service sector here, the amount of investment must be more than the amount of Rs. 10 lakhs but must not exceed the amount of Rs.2 crores.
• Medium Enterprises- This category has the biggest sized enterprise among the MSMEs. And the criteria for this is as followed:-
• The category that deals with the manufacturing sector has to be an investment which is more than the previous category which is small-sized enterprise. So the criteria is that the investment amount must be above Rs. 5 crores and upto should be Rs 10 crores.
• And similarly like previously mentioned two categories, the service sector must have an investment of Rs. 2 crores that doesn’t exceed the amount of Rs 5 crores.

What should you be prepared with for MSME registration application?

In order to get the MSME Registration done in India, you must have the following documents prepared with you to follow a hassle-free procedure online.

• Government Registration fees
• The MSME Registration application form.
• Prescribed list of documents for submission at the registrar office.

Have a Look at the Procedural Steps for MSME/SSI Registration

• Prepare and complete the form of MSME Registration or SSI Registration.
• Next, get all the prescribed list of documents.
• Once you have the documents for MSME Registration application file for the MSME Registration to the registrar.
• Now that you have submitted your MSME Registration application, it will be verified by the authorities and when they are satisfied with your submission you will be granted your approval.
• You shall receive your MSME Registration certificate and you are now a registered MSME business owner with rightful access to the government benefits.

We at Swarit Advisors are the best leading online legal service providers who are constantly available to support you in the best possible ways. All you can do is contact our specialists by discussing your problems and doubts so that we can guide you in the right direction with an accurate procedure to follow. Dial our phone number anytime in 24/7 hr or drop us an email when you need us.

Source by: https://swaritadvisors18.wixsite.com/mysite/blog/follow-the-online-msme-registration-procedure-in-india