Business Registration

 

Goods and Services Tax (GST) is an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. Under GST, goods and services are taxed at the following rates, 0%, 5%, 12% and 18%

Why is GST Registration required:
GST registration is important as it will allow you to avail various benefits that are available under the GST regime. One such benefit is to avail seamless input tax credit. Many multiple taxes are being clubbed added under GST and hence the cascading effect of taxes will no longer continue.
Also, timely registration will help you avoid any kind of interface with tax authorities.

Format of GSTIN

Applicability:

Any individual or entity that fulfils any of the following conditions needs to get GST Registration

1. Having an annual aggregate turnover from operations in the state which is above the threshold limit of 20 Lakhs (Rs. 10 Lakhs for North-Eastern States)

2. Currently registered under any of the existing indirect tax regimes (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit

3. Having operations in multiple states

4. Having multiple business verticals in one state

5. Making any Inter-State taxable supply

6. Casual taxable persons & Non-resident taxable persons

7. Required to pay tax under Reverse Charge

8. Required to deduct tax at source

9. Agents of a supplier

10. Input Service Distributor

11. Supplying goods or services through E-commerce Operator

12. E-commerce Operator/ Aggregator who supplies goods or services under his brand name (e.g. Flipkart, Amazon, Ola)

13. Supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

 

Filing Of GST Returns With Due Dates 

 

Return Form

What to file?

By Whom?

By When?

GSTR-1

Details of outward supplies of taxable goods and/or services effected

Registered Taxable Supplier

10th of the next month

GSTR-2

Details of inward supplies of taxable goods and/or services effected claiming input tax credit.

Registered Taxable Recipient

15th of the next month

GSTR-3

Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax.

Registered Taxable Person

20th of the next month

GSTR-4

Quarterly return for compounding taxable person.

Composition Supplier

18th of the month succeeding quarter

GSTR-5

Return for Non-Resident foreign taxable person

Non-Resident Taxable Person

20th of the next month

GSTR-6

Return for Input Service Distributor

Input Service Distributor

13th of the next month

GSTR-7

Return for authorities deducting tax at source.

Tax Deductor

10th of the next month

GSTR-8

Details of supplies effected through e-commerce operator and the amount of tax collected

E-commerce Operator/Tax Collector

10th of the next month

GSTR-9

Annual Return

Registered Taxable Person

31st December of next financial year

GSTR-10

Final Return

Taxable person whose registration has been surrendered or cancelled.

Within three months of the date of cancellation or date of cancellation order, whichever is later.

GSTR-11

Details of inward supplies to be furnished by a person having UIN

Person having UIN and claiming refund

28th of the month following the month for which statement is filed

Type of Service

GST REGISTRATION

Turn around Time

Understanding requirement

  • We shall understand your requirement about the Goods & Service tax registration  and provide information on the rates and slab as applicable. We shall provide you list of documents required for obtaining the GST registration. Once the documents are with us  we shall apply for registration.

2-3 days

Application and Service Tax Number

  •  We shall create your login, fill the application data, enter list the details as per required.

2-3 days

GST CERTIFICATE

Once We submit the application, We have to wait until its approved by the Department.

7 days

Documents / Information required:

Documents required

Information required

  • Digital Signature of any One Director or shareholder.
  • ID proof and Address proof of Each Director ( self Attested)
  • Photographs of each Director / Partner ( 1 nos each)
  • PAN card of the business entity.
  • MOA AOA / Partnership Deed /LLP Agreement
  • Rental Agreement and recent utility bill of the Company
  • Bank Account statement for last 3 months.
  • Existing Service Tax , VAT Regn or other registration Certificates as applicable.
  • Company Authorization letter.
  • Nature of Business.

KYC data of the business
KYC details of all Directors /Partners
List of Services for registration.
Bank Account details.

Type of filing

Form no.

Due date

Outward Supplies

GSTR-1

10th

Inward Supplies

GST-2

15th

Monthly returns

GST -3

20th

Annual Return

GSTR-9

31st Dec. next FY.

ABOUT PAN

Permanent Account Number (PAN) is a code that acts as identification of Indians or Corporates registered in India to pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act 1961. It is Mandatory Number to start, initiate any kind of business. A proprietor need not apply for a separate PAN Card as the business will be running on his own PAN.

APPLICATION PREPARATION

Our Expert will prepare your PAN Application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared and signed, we will submit the PAN Application to the Tax Department.

Time period: Usually takes 12-15 working days.

PAN ALLOTMENT & COMPLIANCE

Once the application and the attached supporting documents are verified, the Tax Department will allot a PAN for your business.

Payment Frequency : If TDS (Tax deducted at Source) is not deducted and liability is computed, then payment is to be paid before end of financial year.

Filing of Returns : Before 31st July in the Assessment year for Non Corporates.

Before 30st September in the Assessment year for Corporates.

My Office Accountant : can assist you periodically in filing of Income tax returns.

ABOUT TAN

Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government.

APPLICATION PREPARATION

Our Expert will prepare your TAN Application and obtain your signature in the format along with the necessary supporting documents.
Dependencies
1. Availability of PAN.

APPLICATION PROCESSING

Once the application is prepared and signed, we will submit the TAN Application to the Income Tax Department.
Time period: Usually takes 12-15 working days.

TAN ALLOTMENT

Once the application and the attached supporting documents are verified, the Tax Department will allot a TAN for your business.
TAN number is used to deduct taxes known as TDS (Tax Deducted at Source) before making payments for various expenses as per slabs.

Payment frequency: Monthly.

Payment Due Date: 7th of every month (April to Feb) and 31st March for the month of March.

Filing of TDS return: Quarterly Returns to be filed within 15 days from end of every quarter.

My Office Accountant can assist you periodically in filing of TDS returns.


Type of Service

Professional Tax Registration- Employers

Turn around Time

Understanding requirement  & collection of documents

  •  We shall understand your requirement about the Professional tax  registration  and provide information on the various  rates  depending upon the constitution of your business. We also inform if there are exemptions to newly formed business.
  •  . We shall provide you list of documents required for obtaining the registration. Once the documents are with us we shall apply the professional tax registration.

1 -2 days

Application and Service Tax Number

  •  We shall create your login, fill the application data and make payment for professional tax registration online

1-2 days

Professional Tax Certificate

Once We submit the application and make payment online . The certificate is available online to be attested by th e Department

2 days

Documents / Information required:

Documents required

Information required

  • ID proof and Address proof of Each Director and Shareholder ( self Attested)
  • Photographs of each Director / Partner ( 2 nos each)
  • PAN card of the business entity.
  • MOA AOA / Partnership Deed /LLP Agreement
  • Rental Agreement and recent utility bill of the Company
  • Bank Account statement for last 3 months.

 

  • KYC data of the business
  • KYC details of all Directors /Partners
  • List of Services for registration.
  • Bank Account details.

Govt Fees Table:
Fees to be paid every year in April

Proprietor

Rs. 1000/-

Partner

Rs. 1000/- each partner

Pvt. Ltd. Company

Rs. 2500/- per company

LLP

Rs. 1000/- each partner

Type of Service

Professional Tax Registration- Employees

Turn around Time

Understanding requirement  & collection of documents

  • We shall understand your requirement about the Professional tax registration  for employees and provide information on the various rates and slabs depending upon the salary of the employees being drawn by employees.
  • We shall provide you list of documents required for obtaining the registration. Once the documents are with us we shall apply the professional tax registration for employees.

1 -2 days

Application and Registration Certificate Number(RC Number)

  •  We shall create your login, fill the application data and make fee payment for professional tax registration online.
  •  We shall collect details such as Attendance report, Number of employees coming under the Salary slab. We shall submit all documents to the Dept.

2-3 days

Professional Tax Certificate

Once We submit the application and make payment online. The certificate is available online to be attested by the Department.  Department will provide online login details for filing professional tax returns.

2 days

Documents / Information required:

Documents required

Information required

  • ID proof and Address proof of Each Director and Shareholder ( self Attested)
  • Photographs of each Director / Partner ( 2 nos each)
  • PAN card of the business entity.
  • MOA AOA / Partnership Deed /LLP Agreement
  • Rental Agreement and recent utility bill of the Company
  • Bank Account statement for last 3 months.

 

  • KYC data of the business
  • KYC details of all Directors /Partners
  • List of employees under the Proff Tax slab & Attendance report.

 

Proff Tax Slab

Employees earning above Rs. 15,000/-

Rs. 200/- per employee.

Proff. Tax Payment

Monthly by 20th

Proff Tax Returns

Monthly by 20th.

Type of Service

Shop and Establishment

Turn around Time

Understanding requirement

  • We shall understand your requirement about the Shop and Establishment and provide information on the Govt Fees applicable upon the number of employees.
  • We shall share with you the list of documents required for the registration

1 -2 days

Application

  • Once the application is prepare and submitted online. We will submit al certified copies to local municipal corporation for processing the application.
  • The local authorities will send their office personnel for inspection.

 

2-4 days

Certificate

  • Once the inspection is over and all documents submitted are found in order. Dept will provide the certificate. This certificate has to be framed displayed in the premises.
  • Each Certificate is valid for 5 years.

3-5 days

Documents / Information required:

Documents required

Information required

  • ID proof and Address proof of Each Director and Shareholder ( self Attested)
  • Photographs of each Director / Partner ( 2 nos each)
  • PAN card of the business entity.
  • MOA AOA / Partnership Deed /LLP Agreement
  • Rental Agreement and recent utility bill of the Company
  • List of Directors.

 

  • KYC data of the business
  • KYC details of all Directors /Partners

No of Employees

Govt Fees.

0

250/-

1 to 9

500/-

10-19

3,000/-

20-49

8,000/-

50-99

15,000/-

100-250

30,000/-

251-500

35,000/-

501-1000

45,000/-

>1000

50,000/-

Type of Service

Import –Export Code

Turn around Time

Understanding requirement  & collection of documents

  •    We shall understand your requirement about the Import Export Code and explain the procedure and turnaround time in obtaining the Number.
  •  . We shall provide you list of documents required for obtaining the IEC code Once the documents are with us we shall apply the IEC code and obtain the same

1 -2 days

Application

  •  We shall create your login, fill the application data and make fee payment for IEC code online. Once the application is submitted , We shall submit all documents to Regional Office of DGFT for processing of the application

 

2-3 days

IEC Code

Once We submit the application and make Govt. Fee payment online. The Dept will verify all document details and provide an IEC Code Number and Certificate will be available online and emailed.

10-15 days

Documents / Information required:

Documents required

Information required

  • ID proof and Address proof of Each Director and Shareholder ( self Attested)
  • Photographs of any one Director / Partner ( 1 nos each)
  • PAN card of the business entity.
  • MOA AOA / Partnership Deed /LLP Agreement
  • Rental Agreement.

 

  • KYC data of the business
  • KYC details of all Directors /Partners

 

ABOUT EPF

Employee Provident Fund (EPF) is one of the main platforms of savings in India for nearly all people working in Government, Public or Private Sector Organizations.

EPF contributions by Employer and Employees are calculated based on basic salary and dearness allowance.

An establishment with 20 or more workers should register with EPFO(Employee Provident Fund Organization).

APPLICATION PREPARATION

Our Expert will prepare your application and obtain your signature in the format along with the necessary supporting documents.

APPLICATION PROCESSING

Once the application is prepared, we will submit it to the EPFO Dept. The Dept will come for inspection of the premises , conduct their due diligence and approve the Registration.

Time period: Within 7-10 working days.

EPFO NUMBER

Once the application is approved, EPF registration number is provided.

Payment Nature: Employers have to deduct and Pay both contributions on a monthly basis to the EPF Dept.

Payment Type: Monthly.

Last Date: 15th every month.

Filing of Returns:

Monthly Returns – 25thof every month.

Annual Returns – 25th April of every year.

My Office Accountant can assist you for new applying new registration and filing of returns.

Type of Service

Trademark

Turn around Time

Understanding requirement  & collection of detail

  •    We shall understand your requirement about the Trade mark that you wish to apply for your business.
  • You can apply a Trademark for the word or for the logo under the same classification . 
  • All Trademarks are classified under various classes based on type of goods or services.
  • . TO begin with , We shall provide you an application form which will give us details of your Trademark and detail of he owner of the trademark.

1 -2 days

Application

  •  We shall create your application make the Govt Fee payment on your behalf . Once the application is submitted , We shall  receive an acknowledgement for the trademark applied . You can start using TM as a superscript along with the trademark.

1-2 days

Examination Report

  • Once the Trademark has been submitted, after a year it will come for Examination. Examination can come earlier if there is any objection to your trademark applied.
  • We shall file replies to the Examiner in the form of an Affidavit and we shall provide all documents and information in hard copies to justify the Examiner that we rightful owners of the Trademark and same to be requested to be approved.
  • You might be asked to pay once again a nominal cost for drafting the replies in the form of an affidavit and submitting all documents in the court to the examiner.
  • Once the Trademark is approved , you can use the symbol ® over the Trademark.

After a year,
2-3 days

Documents / Information required:

Documents required

Information required

  • ID proof and Address proof of the Applicant
  • Work mark or Logo

 

For Examination:
All Data or documentary evidence indicating use of Trademark such as Website , Invoices, Brochures , Pamphlets ,  Documents, Letters , Bills, and any other info pertaining to the Trademark to be submitted along with the affidavit.

 

  • KYC data of the business
  • Details of busness or Class under which the Trademark has to be filed.

ABOUT FINANCIAL STATEMENTS

BALANCE SHEETS & PROFIT –LOSS STATEMENTS

Every Business Entity has to prepare its balance sheet and Profit-Loss Statements to arrive at the profitability of their business. These business numbers helps a corporate entity to plan his business, prepare a growth map, make financial decisions and raise money from Financial Institutions.

ASSISTANCE IN AUDIT

My Office Account can be one stop solution right from incorporation, business registrations, compliances, accounting and help you prepare and keep track of your financial statements. We provide assistance in audit and taxation matters and can provide monthly MIS reports to support your business.

NETWORK OF CHARTERED ACCOUNTANTS

We have a network of Chartered Accountants and professionals who can assist you in auditing , preparation of financial statements and finalization of accounts.