V R Singh & Associates LLP
Looking forward to start your dream business? Confused which forms of business organization is best suited for your business? We at V R Singh & Associates LLP offer a complete quality range of expertise services to help get your new company registered anywhere in India. The choice depends on factors like, flexibility, funding, nature of business, risk factors, taxation etc and V R Singh & Associates LLP advises you to choose the right form after having detailed discussions with you about the relevant factors.
V R Singh & Associates LLP helps you register the following form of business entities:
For Indian Owners:
For Foreign Owners:
Once your business is established, it has to obtain various other registrations, based on its nature of business. V R Singh & Associates LLP provides the services of obtaining below mentioned post incorporation registrations
PAN (Permanent Account Number) is the Income Tax Identification Number, PAN is required to be applied before opening the Bank account. Indirect Tax registration like GST, Professional Tax, Import Export Code (IEC) are all based on PAN, hence it's mandatory to obtain PAN before applying indirect tax registrations.
TAN is a number required to remit tax with-held from vendors and employees. Companies can have multiple TAN for each location.
GST is an Indirect Tax, which is collected from the Buyer of goods or Service Recipient and deposited with the government. GST (Goods & Service Tax) registration is mandatory for suppliers of goods and services with turnover exceeding INR 40 lakh.
Voluntary registration can be obtained even before achieving the turnover limit for mandatory registration. Once registration is obtained it is mandatory to charge GST irrespective of the turnover. In the case of a private limited company, GST Registration is granted along with company registration itself if one opts so.
A business entity is required to have Import and Export Code for Import and Exports of goods and services outside India. Import Export Code (IEC) is issued by Directorate General of Foreign Trade (DGFT) and is same as PAN Number of the entity. Custom Clearance, payment of custom duty on imports and Export of goods is done through Import Export Code. IEC is not required for importing goods for personal use and also for import/ export of few services notified by the government.
Many aspects contribute to the growth of an economy and one such factor which acts as a backbone for India's economy includes the Micro, Small and Medium Enterprises (MSMEs). This particular sector is considered as the backbone of the country's economy as it is instrumental for attaining inclusive and sustainable growth. The sector acts as a nursery for innovations and enterprises as it forms the invisible root feeding for the survival of the majority of Indians.
The MSME is the sector which includes close to 36 million units and provides employment to over 80 million individuals in India. The sector is known to produce over 6000 products and contributes around 8% of gross domestic product (GDP). Apart from this, the total manufacturing output comes up roughly at 45% and the sector contributes to export 40% of goods from India.
Benefits of MSME Registration
Provident Fund registration is required to be obtained if the number of employees exceeds twenty. ESI (Employee State Insurance) is required to be obtained if the number of employees exceeds ten and is applicable on employees drawing less than Fifteen thousand per month.
Shop & Establishment is a labour law registration. Every business entity (other than a factory) employing any employees is required to obtain shop & establishment registration and follow the rules prescribed under shop and establishment act.
FSSAI License is essential for all the operators of Food Business whether wholesalers, manufacturers, suppliers, traders, Re-packers etc. There are different types of FSSAI Registration & the type of FSSAI registration depends upon the annual turnover of the Food Business. No person shall commence or carry on any food business except under a license with exception of a tiny food business operator, abut they shall register themselves with food authority.
Based on Annual Turnover a Food Business Operator has to either apply for a simple FSSAI Registration in form A with FSSAI or apply for a FSSAI Licensing in Form B.
Investment in business entity from outside India is regulated by FDI regulations framed by government. FDI is allowed under two modes of approval, automatic route and Approval Route. In case of automatic approval route there is no prior approval of govt is required for bringing in FDI. Various business sectors have been divided into sector for which FDI is allowed under automatic route and sector where approval is required. With gradual liberalization, most of the sectors are covered under automatic route, barring few sectors like, Retail, defence, real estate etc. There are statutory filing that are required to be done with RBI on getting the FDI investments into the business entity.
Where a business entity wishes to set up a subsidiary/ joint venture outside India, investment towards the same are regulated by ODI (Outward Direct Investments) Regulations.
