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Legal Things To Consider Before Starting a Business In India

12/14/2020

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Business Registration In India is very important, especially for all Startups. The Legal Registration will always have great credibility and Goodwill of the business. It will make your brand awareness better and deliver the best quality to the customer. The legal formation of the company will always be beneficial for your business expansion and its recognition in the market. All businesses need to comply with the basic rules, legislation, and regulations applicable to the smooth operation of the organization.

Here are some important legal fundamentals that should be identified for Startup India Registration  or  any Company Registration In India  before embarking on a business venture:
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Founders Agreement- Most Important Legal process in Company Registration In India

For all the companies, businesses, or Ventures in India. It's a very important documentation of the founder's agreement. To start any company, the first thing is to be clear about the existence and form of the business. Founders must have their business as a different form of companies like a sole proprietorship, private limited, public limited, partnership, limited liability partnership, etc. It is very essential to have this clarity at the very beginning as this will be integral to the business’ overall vision and goals, both short term and long term.


It is necessary for the founders of a company to have an agreement between them. Even before forming an object itself. Founders' agreements are the agreements with the founders A result of discussions that should take place among the founders of a company Rather than later in the life of a company, at the early stages of growth. The purpose of these discussions is to have an open and truthful debate. About people's attitudes, concerns, and expectations involved in order to minimize the possibility of crippling surprises such as the startup, Business keeps changing.

Copyright and Trademark of the Business Logo and name

When you are going for Company Registration In India make sure you take copyright of the name and logo. Because there are various competitors of the same product on the market, to stand different you must go for registering your name online with the trademark and copyright of the product name.

Distinguishing your product from yours is very critical in today's market. One of the easiest ways to make the name of your business exclusive is to register your trademark. You will use it for 10 years after the trademark has been acquired. If your trademark name is licensed, no one may use it. It is your property. It's really simple to fill out a trademark these days, you can complete it by staying at your house. With a copyright policy, you are able to protect your services and goods. No one can create or copy your work until you have the right to copy your goods and work. It's also quick to register a copyright and it can be done at home.

 Getting a DIN Number and  DSC 

A full form DIN is Director Identification Number. It is a special token number provided to all current or future directors of the listed companies. You can get a temporary DIN by completing an online DIN-1 application form. Thereafter, together with the identity and address of proof of receipt, the printed and signed form of the form must be forwarded to the service. After document confirmation and subsequent acceptance of applications, a permanent DIN is issued.
A DSC full form is a digital signature certificate. It is an issuance of the electronic signatures. That validates the holder of this certificate and identifies them. This certificate may be given by one of the accredited agencies registered with the ministry. When applying for a DSC, company directors must request an application form, identity proof, and permanent address proof.

Stamping of all records from the company 

Unregistered copies of the MOA and AOA next to the same payment receipt must always accompany an application for the stamping of company documents. Stamp duty must be charged electronically to the Registrar of Companies (ROC) for such documents. In case of a partnership, it's submitted to the registrar of firms

Following this order, copies - one of which is stamped, signed, and properly signed - will be returned to the Superintendent. Finally, with all the necessary information filled out by hand, the company promoters must sign the MoA and AoA.

Taxation in Companies and business

You won't be able to drive on a long road without a proper way of seeing it. Having a proper accounting system would help you avoid making business mistakes and provide you with practical business decision-making knowledge. On the other hand, there is one thing that can always slip from your mind when you are busy doing business: revenue tax returns and other annual enforcement. They are all compulsory and almost the only way to legally expand as a corporation. 

It can be very difficult to file the returns and/or inspect the accounting records. There are industry experts for you to take advantage of, therefore. Leave them with the tedious account paperwork when the company is doing what you do best.

 GST Registration is Mandatory for Startup India Registration

For any company seeking to conduct the availability of products and services across states, GST registration is mandatory while maintaining an annual aggregate turnover of quite INR 40 lakhs/20 lakhs. Before the other mechanism for brand spanking new company registration, this could be prioritized. you'll visit the subsequent link for further information on GST registration and therefore the documents needed for the appliance.
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Important laws to follow up in Company Registration In India
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  • The Industrial Disputes Act, 1947
  • The Trade Unit Act, 1926
  • Building and Other Constructions Workers’ (Regulation of Employment and Conditions of Service) Act, 1996
  • The Industrial Employment (Standing Orders) Act, 1946
  • The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979
  • The Payment of Gratuity Act, 1972
  • The Contract Labour (Regulation and Abolition) Act, 1970
  • The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
  • The Employees’ State Insurance Act, 1948.

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Conclusion

It's a hard process to start a company, but if done right, it reduces the likelihood of future problems. Procedures are further streamlined and the implementation of GST would help to improve the ease of doing business in India. You must start the company officially and pay all the taxes necessary. Take help of professionals like CA or CS professionals they help in Company Registration In India.
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STEPS INVOLVED IN COMPANY REGISTRATION PROCESS

11/4/2020

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Before initiating for Company Registration you must have knowledge, how it registered? It is also important for you to have information about Company incorporation process, laws and provisions applicable on it, etc. To have knowledge about your business structure helps you in managing your business, because in case if any kind of dilemma arises you will not be panic in such a situations.

Company Registration Process- How to Register A Company in India

In this blog we are going to discuss about the company registration process. How a company registered with ministry of Corporate Affairs. A step by Step guide to registration.
  1. Selection of name for New Company Registration– First step is to identify the name which will represent your organisation in market. Name of company is something which must be unique, descriptive and can stand in market for rest of business life. Companies Act, 2013 has provided some provisions related to selection of name of a company.

    According to the provisions of Companies Act, 2013 name of company shall not be similar or nearly resemble, same pronunciation, representing and governmental body or authority’s name. Once you select with names check it with Ministry on their portal at http://www.mca.gov.in/mcafoportal/showCheckCompanyName.do and One must also check with trademark also at http://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx ,

  2. Reserving the name with MCA– When you have done with name finalisation of your online company registration, thereafter you should file allocation for name reservation of your company. For the purpose of name reservation of Company Registration in India MCA has provided name reservation service which is called RUN (Reserve Unique Name). This is web based service for reserving the name of company.

    MCA is charging a amount of Rs. 1000/- for name reservation. Here you can apply with two names of your company. After due verification MCA will approve your name.
                             
KEY NOTE-

    • When you will submit the name of company system will show that name is available in maximum case. But in actual is not same, the ultimate right to approve the name of online company registration in the hand of CRC officials.
    • There are only two chances provided by MCA, for example- first you submit 2 names and government did not approve any name now you have only once chance left to submit the name.
    • In case if government denied in both chances the amount paid to government will laps.
    • In case if government approved you company registration name, then it will available for a period of 15 days.
    • Thereafter you can apply for Company Incorporation application.
  1. Preparation of Digital Signature- Digital Signature Certificates are electronic signature issued by certifying authorities under Information Technologies Act, 2002. These are the authorities which are authorise by the government for issuance of DSC. Some of major authorities are as e-mudra, Capricorn, Vsign, etc. the reason behind preparation of DSC is to maintain all documentation on electronic basis.

    MCA has changed its offline portal to 100% online portal. So members or directors signature should be safe and secure. Here the authority issue specific unique numbers to DSC holders. Which can only be used by them and no one can do forged signature. These signatures also used after registration for filing purpose of company and otherwise.

  2. Finalisation of MOA and AOA- After checking the availability of name for online company registration. You must prepare MOA and AOA of company, which is called as by laws of company. In Memorandum of Association the main activities of companies are mentioned there.

    You should keep in mind before drafting of MOA that there is nothing mentioned in MOA which is not consider as illegal as per Companies Act, 2013 and not allowed. AOA consist of provisions like how company will works. It contains all terms and conditions for governance of new company registration as per act.

  3. Preparation of annexure to application- Once the above-mentioned requirements of firm registration have done. Thereafter we must start with documentation for Company incorporation application. For the purpose it is advisable t appoint a professional such as Chartered Accountant or Company Secretary. These professionals are well versed and have exclusive authority to Company Registration in India. In case of Private Limited Company Registration following documents need to prepare by professional-
    • Preparation of DIR-2
    • Preparation of Interest in other entity
    • Preparation of DIR-8
    • Preparation of INC-9
    • No Objection Certificate, etc.
  4. Preparation of Spice+ e-Form – Ministry of Corporate Affairs has prescribed updated version of its Spice forms, which is meant for registration purpose. In this for you can apply for Online Company Registration along with some additional certificates and registrations such as-
  • PAN and TAN Registration of Company
  • DIN of Directors
  • Name Approval of company
  • Company Registration Certificate
  • PF Registration
  • ESIC Registration
  • Bank Account Opening
  • MOA and AOA approval
  • GST Registration
These are some certificates which also can be opt by a person during the time of making application for New Company Registration. No need to make separate applications for these documentation and certificates.
Post Registration Steps- Once your company Registration in India work has done. You should complete company’s Current Account work. Like you have to submit directors KYC with bank for the further operation of Current Account.
One should always keep in mind that company registration is not the final level. Once you have done with Company Incorporation thereafter certain compliance requirements are also there which need to maintain every year or according to the direction of government. Otherwise your start-up registration will not work for business growth.

We at LegalPillers have a proper panel of professionals like Chartered Accountants, Company Secretaries, Advocates, etc.
Experience our amazing Online CA Services at very reasonable cost. In case if you have any dilemma or confusion, do not bur time call us immediately and get free consultation by our professionals at 9625279785 – 9267941961 or you write us at info@legalpillers.com.
How many steps are there in Company Registration in India?In Company Registration, there are some basic steps which are mentioned above. For more details do connect our professionals and get free consultation.
Digital Signatures are mandatory for Online Company Registration?Yes, Having Digital Signature of Directors is mandatory. Without DSC an application for Company incorporation can not apply.
Can a person have multiple DSC?Yes, A person can have multiple DSC according to their use.
How much cost for company registration in India?Government has prescribed different fees for every state. So it is not fixed in each state. However we are offering Online Company Registration in lowest cost in India. Do connect to grab the offer. Limited period remain.

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TYPES OF COMPANIES IN INDIA FOR BUSINESS REGISTRATION

11/3/2020

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Nowadays, entrepreneurs are looking for various registration types of companies in India for their business formations that they can compete in the market. Different types of companies can be registered for starting your business in India. In this blog, we are going to discuss the various types of company registration in India. A company, according to the Indian Companies Act, 2013 is a company Incorporated under this law or below any prior company law. The Act prescribes the following Kinds of Organizations in India on a different basis. ​
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​DIFFERENT TYPES OF COMPANIES IN INDIA OR TYPES OF COMPANIES

Commonly known types of companies like, Private Company and Public company are described based on the number of members (shareholders). In any business, except OPC, the membership can be held by any person or just a body corporate. Even foreign nationals or NRI can participate as members of these companies.


PRIVATE LIMITED COMPANY

For a Private Limited Company, the minimal number of members is two, which is extended to a maximum of 200 simultaneously. The said statutory limit must comply with all-time during the life of the company. It is registered with Ministry of Corporate Affairs (mca.gov.in)


ONE PERSON COMPANY:

OPC Company is a kind of Private Company business registration, One Person Company is usually called OPC. OPC is significantly different from other kinds of businesses because of the number of its single person holding. In OPC, there’s only 1 member at any time during its existence. This member must be an individual and an Indian resident.


PUBLIC COMPANY

In Public Company, there’s absolutely not any limitation regarding the maximum number of members. But, the minimum number of members is provided at least 7. There companies can list on stock exchanges. Such Companies can draw funds from pubic through Public Offers (IPO or FPO).


DIFFERENT TYPES OF COMPANIES BASED ON LIABILITY:

  1. COMPANY LIMITED BY SHARES
In this type of company, the capital is introduced in the shape of Shares i.e. the capital of the business is divided into some percentage, called shares. The stocks are considered ownership of the shareholder in the company incorporation. The number of equity shares held measures the possession of the shareholder in the company incorporation.
If their demand for funds arises in the business, the shares can be issued for shareholders. In this type of company, the liability of the members is limited up to the unpaid capital on the shares subscribed.
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Further, these types of companies in India can be registered as a private limited company, One Person Company or register as a public limited company too, according to the number of members and requirements.
  1. COMPANY LIMITED BY GUARANTEE:
The business registration may be either a private limited company or a public limited company, where the capital isn’t divided into shares. Here, the funds to be introduced with the members, are in the character of guarantee.
The subscriber to the Memorandum subscribes the amount guaranteed and places a signature against the total guaranteed. Our Online CA will help you in registering these types of companies. We have well-versed income tax consultants who have rich experience in such kind of registration at LegalPillers.
Here, the proportion of the ownership is based on the total guaranteed. Whenever the necessity of funds arises, the members present the funds to the organization. The liability of members is limited up to this amount of guarantee supplied only.
  1. UNLIMITED COMPANY: 
In this business registration or company incorporation, the liability of the members isn’t limited. In the event of any debt arises, the liability of the members doesn’t limit their role in business, instead, it goes to their private assets also. In the present situation, this type of company in India isn’t being chosen to be registered by the entrepreneurs.
The liability of the members arises at the time of winding up or insolvency or otherwise, whenever the funds is to be increased or debt is to be paid. The most popular kind of business is Company limited by shares. The businesses can be further bifurcated in various types like a public or private business i.e. based on the character of the business. According to actions, it may be bifurcate into Charitable company(Section 8), Nidhi Company, etc..


OTHER KINDS OF FIRMS:
1.FOREIGN COMPANY:As the name implies, a foreign company is owned by foreigners. A business registration where foreign participation in shareholding increases by more than 50%. company incorporation outside India find it most accessible way to set up business in India. Such businesses are enrolled as Indian Subsidiary of foreign company.
2. SECTION 8 COMPANYIt is registered as a business under Section 8 of the Companies Act, 2013; hence, called Section 8 Company. It’s registered for charitable purposes and as a non-profit organization. Such a company enjoys a special status and particular exemption since it’s registered as Section 8 Company.
3. PRODUCER COMPANY(FPO)A producer company is essentially a company registered to take care of the principal generation of its active member linked to farming. The major objective includes production to its exporting and selling also. Register a company in India become easy now, connect to our income tax consultant or online CA to get proper assistance over this kind of company incorporation or business registration, or knowing about types of companies in India at LegalPillers.
A producer company is registered with ten or more members being producer; or any two or more producer associations; or its mix. The liability of its members is limited to the extent of outstanding share capital by its own members.
4. SMALL COMPANYSmall Company is a special status given to business registration.
A business is said to be a small company if it follows below-mentioned conditions:
  • Not a Public Company
  • Paid-up share capital: Not exceeding fifty lakh rupees
  • Turnover: Not exceeding two crore rupees, according to profit and loss account for the immediately preceding financial year
Further, this doesn’t apply to any holding or subsidiary company; Section 8 company; or a business governed by any special Act.
Small Companies enjoy certain exemptions under the Companies Act, 2013 concerning compliance.
5. SUBSIDIARY COMPANY:Referred to as a subsidiary, it’s a company in which other firm controls the composition of its Board of Directors or its more than 50 percent of voting powers. In the event, where 100% of voting powers are held by a single holding company, the subsidiary is called the Wholly Owned Subsidiary (WOS) of the holding.
6. HOLDING COMPANY:Holding company is a business having controlling power or the vast majority of voting powers of another company (subsidiary as mentioned previously). Holding company is also known as the parent company.
Above mentioned are some of the types of companies in India or business registration in India. For getting any kind of further information related to different types of companies or company incorporation or register a company in India, do connect to our income tax professionals or Online CA. SO that we can assist you in a proper way. Still have a query do call us at 9625279785 or 9267941961.


This post has been originally published at: TYPES OF COMPANIES IN INDIA FOR BUSINESS REGISTRATION
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ALL YOU SHOULD KNOW ABOUT GST REGISTRATION

9/24/2020

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It's compulsory for a goods or service organization to enlist for GST in cases yearly turnover surpassed as far as possibly indicated for GST enrollment by tax consultant near me. Organizations neglecting to join under the GST system should bring about overwhelming fines and punishments.
Here we are going to discuss everything about GST. Look through and get the hang of everything.
How can you define the term Goods and services tax registration?
The GST or Goods and Service Tax applies to all Service suppliers, brokers, and producers and so on. The rundown incorporates services also. Fundamentally, GST subsumes an assortment of focal assessments (like Service Tax, CST, Excise Duty) and State charges, (for example, Entertainment charge, VAT, Luxury Tax, Octroi, and so forth.).

How much does it cost for GST registration?
In the event of Goods, Businesses with a turnover of more than Rs. 40 Lakhs needs to enrol as an available individual under the GST system. In any case, on the off chance that you have a place from determined states, at that point you need to enlist if your turnover surpasses Rs. 20 lakhs. If there is a turnover of more than Rs. 20 Lakhs needs to enrol as an available individual under the GST system. The procedure of enrollment is known as GST enlistment. As a rule, it takes two to six working days to enlist under the GST system.

Who Needs to Register for GST?
  • Businesses or people who enlisted under the pre-GST charge system, for example, Tank, Excise, or Service Tax.
  • All the non-occupant available individual or an available easygoing individual
  • Taxpayers who are paying expenses under the opposite charge component
  • Input administration merchant and operators of a provider the nation over
  • All the internet business administrator with the help of online chartered accountant
  • People offering OIDAR administrations from outside India
  • Business having turnover more than the edge furthest reaches of Rs 40 lakhs if there should arise an occurrence of goods and Rs.20 Lakhs if there should be an occurrence of administrations
  • People who flexibly through a web-based business aggregator
Must Read- 5 Reasons Why Clients Choose our CA Near Me service
 
What are the Main Elements of GST?
GST has three assessment parts. The first is the Central Goods and Service Tax(CGST), the subsequent one is State Goods and Service Tax (SGST), and the last one is Integrated Goods and Service Tax (IGST). If there should arise an occurrence of CGST and SGST, the Central and State government demands the expense when an exchange happens inside a state. The IGST is likewise required by the Central Government if there should be an occurrence of Inter-state exchange, i.e., when a transaction occurs in the middle of two distinct states. Thus, it is important to know what is GSTIN?

Documents Required For GST Registration
Contingent upon the idea of your business, you need various archives. Here view,
Archives for New GST Registration if there should be an occurrence of Proprietorship firm
  • Address verification and PAN number and Aadhaar number of owner
  • Cancel check
  • Passport size photograph
  • Mobile number and postage information of Proprietor.
 
Archives for GST enlistment in the event of LLP

  • The LLP Agreement
  • PAN Card of the LLP
  • PAN number and Aadhaar number of Partners
  • Mobile number and postage information of accomplice.
  • Passport size photograph of accomplices
  • Address verification
  • Name of the considerable number of accomplices alongside their location evidence
  • Digital Signature
  • Letter of Authorization for Partner to be approved to sign.
 
Archives for online gst registration in the event of Private Limited Company
  • Articles of Association, AOA
  • PAN Card of the organization
  • Certificate of Incorporation
  • PAN number and Aadhaar number of Directors
  • Mobile number and postage information of Directors.
  •  Digital Signature
  • Identity verification and address evidence of the chiefs
  • Resolution marked by the board individuals for Authorizing any executive to sign
 
Must Read-  Difference between Private Limited and One Person company
 
How to Register for GST Online and Why GST NO is required?
The procedure of GST enlistment is paperless, which implies you can enlist yourself under the GST system carefully. No physical duplicates of the record are required. The entire procedure of enrollment includes two sections. The initial segment is the age of the GST application structure, and the subsequent part involves filling the application structure. GST number is required to legally hold a firm here in India for a tax payer.
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Section 1: Generation of GST Application Form for GST registration process
 
Initially, you should get a Temporary Registration Number (TRN). A legitimate portable number and email id and a PAN card is the thing that you have to get your TRN. Follow the means underneath,
  • Visit the authority GST site
  • Now, a point on the Service tab and under that click on, Registration> New Registration
  • Then, put your portable number, email address, and your PAN number in the correct section under the Registration page
  • Now, click on the continue catch, and you will get OTPs to check your telephone number and email id.
  • After the useful check, your Temporary Registration Number will get produced
  • Now click on administrations followed by, Registration> New Registration and pick the Temporary Reference Number to sign in utilizing TRN
  • Then, enter the TRN and captcha. Here you will get another OTP.
  • After confirming the OTP effectively, you will be taken into the My Saved Application page.
 
Section 2: Fill in the GST Application Form for Registration under GST
Section 2 comprises of 10 segments. It would be best to fill the subtleties afterwards and adequately present the intricacies. Before submitting the file, remember to get all the complexities checked from your CA or Tax Consultant.
 
You need to examine duplicates of the accompanying records to fill the application structure,
  • Photographs
  • Proof of the business
  • Constitution of the citizen
  • Bank account subtleties
  • Authorization structure/Letter/Resolution
  • Name of Goods or administrations are additionally required to get given in the enlistment application.
 
When you fill in all the subtleties, visit the confirmation page. Check the presentation box and present your application through one of the accompanying ways,
  • Through e-sign: You will get an OTP on your telephone number enrolled with Aadhaar
  • Through EVC: You will get the OTP on your enrolled portable number.
  • Through Digital Signature: You must confirm the application with DSC if there should arise an occurrence of Company or LLP.
 
Read Also-  GST RETURN – WHAT IS GST RETURN? WHO SHOULD FILE, DUE DATES & TYPES OF GST RETURNS

Can I do GST registration myself?
Yes, anyone can do the Online GST registration. Just a proper process needs to be followed.
After finishing the accommodation, you will have the option to see a 'Triumph' message on your screen. Alongside that, you will get the Application Reference Number (ARN) on your enlisted number and email.
 
Related Blogs-
  • GST Rates 2020-21 – Complete List of Goods and Services Tax Slabs
  • File your Nil GST Return Through SMS – Big Announceme
  • DOCUMENTS REQUIRED FOR COMPANY REGISTRATION IN INDIA
  • UDYOG AADHAAR REGISTRATION ONLINE: NEW PROCEDURE FOR MSME REGISTRATION
Source - https://onlinegstregistrationlegalpillers.blogspot.com/2020/08/all-you-should-know-about-gst.html
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How to setup your business in India

8/31/2020

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Setting up business in India was not that much easy few years back. India was not even in the race of ease of doing business. But due to prompt action taken by the existing government, it can be said that GOI is doing great job in relaxing the norms related to business registration and their regulation. If you are planning to start your business in India, the government is providing you various options for registration of your business. Today we will discuss step by step about the process of company registration or firm registration or another kind of business registration in India-
  • Initially you have to decide what kind of business you want to start, there after you will decide about its execution aspects.
  • Once the plan is ready, do check whether you have to go for Company Registration (MCA registration) or normal business registration like GST Registration, MSME Registration and Partnership Firm Registration which is called normal business registration in general.
  • It should be noted that normal business registration required when you have limited budget and you do not want to enter into compliance complexity.
  • If you are looking for India more formal business registration then you should go for new company registration online.
  • Company Registration will provide you more credibility to your business. Even if you are willing to place order outside India or received from outside India. This registration will work well for you.
  • Online company registration helps you in securing you business name at national level.
  • As per Companies Act, 2013 if you Register register pvt ltd company online, One Person Company, Nidhi Company or etc, you will get a formal registration with MCA.
  • After having business registration do check that you have a proper establishment on internet, social media and other platforms from where you can market your brand.
  • Make sure you have all requisite licenses and certificates which is applicable on your business.

After having all the registration and licenses you will have no burden non compliance related burden and any unwanted penalty will not attract. We at Income tax consultants supporting from start-ups in setting up their business to scaling up. Here you will get proper support related to Company Registration, Firm Registration, licensing related work, etc. having Online CA Service for your business is easy now. We are giving dedicated Online CA to your business in economical budget. So grab the chance and get proper advice for your business by calling our CA at 9625279785 or 9267941961 or you may mail us at info@legalpillers.com
Related Blog-
  • TYPES OF COMPANY REGISTRATION IN INDIA FOR STARTUPS
  • WHAT IS SPICE+(SPICE PLUS) FORM INTRODUCED BY MCA ?
  • BENEFITS OF COMPANY REGISTRATION
  • HOW TO GET FSSAI LICENSE FOR HOME BASED FOOD BUSINESS?
 
Source- https://legalindaiadvice.blogspot.com/2020/05/how-to-setup-your-business-in-india.html

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FoSCoS is updated version of FLRS by FSSAI

7/17/2020

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​FOOD SAFETY COMPLIANCE SYSTEM (FoSCos)- A new system driven by FSSAI.This is Version will be instituted on 1st June 2020. FSSAI upgraded existing FLRS to FoSCoS. This the best action was taken by our Government for the best utilization of the services given by FSSAI in a regulated manner.

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In this article, we will have a closer look at FoSCoS in detail and understand all about this upgraded version.

Introduction of FSSAI Notification- FoSCoS
Since 2011, the FSSAI’s online licensing principles FLRS is Food Licensing and Registration System. It is the heart of the licensing ecosystem with 100% India all State and UTs coverage. 70 lakh licenses/ registrations published to date, over 35 lakhs licensees/ registrants actively transacting on it. This system follows the existing online Food Licensing and Registration System. (FLRS https://foodlicensing.fssai.gov.in). Users of these States/UTs are now expected to visit https://foscos.fssai.gov.in and log in by the same user ids and passwords.

Food Safety and Standards Authority of India (FSSAI) have changed from FLRS to FoSCoS to make food business services easy and better for the Food Business Operator.
  • In the first stage, FoSCoS will begin in 9 States and Union territory including Gujarat, Goa, Delhi, Odisha, Tamil Nadu, Chandigarh, Puducherry, and Ladakh.
  • FoSCoS follows the existing online Food Licensing and Registration System and users of these States/UTs are now asked to visit the official website of FoSCoS and log in by the same user ids and passwords for any services.
  • Food Business Operators having License/Registration of bases at Indian Railways and concerned Authorities are expected to perform at Food Licensing and Registration System (FLRS) till further announcement.
  • Food Business Operators (pan-India) will continue to get Consumer Grievances and must respond to these in a time-bound manner at FLRS only.
  • Note: FBOs and Authorities are expected to visit FLRS regularly for Consumer Grievance Module until its upgraded version is produced in FoSCoS.

By next month, the food licensing process in each state of India will be done by FoSCoS, as the older licensing platform will be disabled. The new integrated platform will be progressively rolled out across all other States.

Purpose To introduce the FoSCoS
Basic purposes of the Food Safety and Compliance System (FoSCoS) is as follows:
  • To form a district and state wise food safety Compliance matrix of the country
  • FoSCoS is formed to build a Food safety compliance verification platform.
  • For reducing the time of the Inspection process and action started.
  • This platform is made to create a transparent system within the inspection framework.
  • For creating a platform to verify and approve the inspection reports.
  • To assure that the inspections are done and without any deviations.
  • The process made in the FoSCoS must initiate Quick Response during the Food Safety Emergencies. 

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Improvised and New features of the FoSCoS
The following are the enriched and New features of the FoSCoS :
  • Improvised processing speed along with higher user traffic administration capability and a scalable system architecture that can help future upgrades and the addition of modules.
  • FoSCoS to be a one-stop Food Safety Compliance Portal intended to promote integration with other FSSAI Applications.
  • The standard shift in Licensing for Manufacturers with the range of Standardized Products rather than entering details in text boxes.
  • A User-friendly and self-intuitive Home page providing quick search options for License Eligibility criteria and Standardized Products.
  • New module for filing Annual Returns online, fairly than having to send them manually.
  • Inspections reports (from FoSCoRIS) now accessible in FoSCoS for seamless operations.
  • Type of Business (KoB) particular list of needed documents to be uploaded, instead of all 29 shown earlier. Also, with Tick box based online declarations, no want to upload signed documents.
  • Clearer segregation of Kind of Business (KoB) in FoSCoS.  For illustration, Nutraceuticals, and Novel foods have been attached as separate sections under Manufacturing.
  • FoSCoS application form takes PAN Number, CIN Number, and GST Number. That can give authentication and 360-degree profiling of FBOs in the future.
  • The revised menu list and Dashboards for Licensing and Registering Authorities aligned with other Application Stages and related pendency.
This new integrated platform will allow licensing, registration, and filing of annual returns regulatory and compliance functions at a particular platform.

FoSCoS - Only for Manufacturers of Standardized Food Products
The new plan is only for manufacturers of standardized food products. For manufacturers, in case of non-specified food, supplements/nutraceuticals, proprietary food, and substances added to food - the procedure remains to be as in FLRS. All other Kinds of Businesses such as catering, transport, storage, etc the licensing/ registration must be based on a broad category approach, as earlier. 

Services Offered
The following services are given to Food Business Operators in the FSSAI’s recently developed plan:
  • Enrollment for Petty Food Business Operators
  • License for Restaurants
  • License for Food Manufacturing including Renewal and Modification
  • Endorsement of Fortified Food Products on License/Registration
  • Quarterly Return for Exporter
  • Transfer a License
  • License for Proprietary food
  • Respond to a Reverted Application
  • Support for Organic Food Products
  • Surrender of license
  • License for Mid Day Meal, E-Commerce, Airport & Seaport
  • License for Food product Exporters and Importers
  • Business Head Office License 
 
Selection-based approach for Standardised Products

The key traits of the selection-based approach for Standardised Products while using for FSSAI License (only for Manufacturers/Processors) are as below:
  • At present, while applying for a license in FSSAI’s online system i.e. Food Licensing and Registration System (FLRS – https://foodlicensing.fssai.gov.in), the manufacturer candidate has to type the name of food product the demands to manufacture in the text box given on the webpage. The text box approach, with selection options for standardized products, has been replaced with the launch of the Food Safety Compliance System (FoSCoS – https://foscos.fssai.gov.in)
  • The difference is only for the manufacturer (including re-packer, re-labeller) of the food products. Manufacturers will have to pick a standardized product only, out of the list given on the licensing platform. The standardized product must have its classification as per the food category system meant for convenience. In case, your chosen food product does not fall under standardized product, then the manufacturing FBO will have to apply under Proprietary Food, Non-specified Food or Supplements/Nutraceuticals as the case may be. In these cases, the text box approach will continue.
  • Licensing for all Kinds of Businesses (KoBs) other than manufacturing, such as catering (food services), transporter, wholesaler, storage, e-Commerce, etc. will remain to be based on broad food product categories.
  • Category 99 is a continuing category for licensing schemes for products such as additives/processing aids/enzymes etc. It is proposed to continue the text box approach for category 99, as while some Food Additives and other substances have standards, there are many for which standards are still under development. At a proper time in the future, this category may also be held to be moved to the Standardised list approach.

                                          Register your Company 2999₹ ->>

Conclusion
If you want updates like these you can get to Legalpillers. For FSSAI License and FSSAI registration access, you can connect to our website. We have budgeted services available and we also give all the services for the people who are willing to a startup company, business, or any other kind of organization. We have the Best Online CA Services available. Contact Today and get amazing discounts!

Related Blogs-
  • HOW TO GET FSSAI LICENSE FOR HOME BASED FOOD BUSINESS?
  • ALL ABOUT FOOD LICENSE REGISTRATION IN INDIA
  • GST RETURN – WHAT IS GST RETURN? WHO SHOULD FILE, DUE DATES & TYPES OF GST RETURNS
  • THE MANY SERVICES PROVIDED BY AN CHARTERED ACCOUNTANT
  • Difference between Private Limited and One Person company


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Author

Govind Srivastav

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THE MANY SERVICES PROVIDED BY AN CHARTERED ACCOUNTANT

7/9/2020

3 Comments

 
​While starting up a business in India needs so many legal formalities to carry out. Usually, the business person feels it is difficult to manage out all the other business activities. That's why they require a chartered accountant, you want to know why because he can carry out all the legal formalities in business like taxation, audits, financial accounts managing, etc. So, in this article, we will be going to have a closure look at accounting services.
But before that let's understand who is a Chartered Accountant (CA).
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​What is meant by chartered accountants?
Chartered accountant refers to expert accountants who are qualified to take on several specific activities within the arena of accountancy. They are eligible to give all types of accounting services. So, the tasks he/ she performs for the organizations are :
  •  Auditing financial statements
  •  Filing of corporate tax returns 
  • Financial advising
  • Oversee financial systems and budgets
  • Evaluate the company's systems and examine risk
  • Advise clients on tax planning (within prevailing legislation to allow them to reduce their tax liability). And tax issues linked with activities like business acquisitions and mergers.
  • Make reports and recommendations following internal audits or public-sector audits
  • Create financial statements including monthly and annual accounts
  • Arrange financial management reports, involving financial planning and forecasting
  • Guide on tax and treasury issues
For roles and responsibilities in the company you can find the services of ca near me.
​

□ Register your Company 2999₹ ->>

What are the benefits of taking accounting services?


You know Online CA Services can be a smart choice because you can stab into the best skill set relevant to your business needs. Plus, it is simple to get a better quality of services that offer a minimal price. So, the benefits of taking accounting services online form the virtual chartered accountants are :
  • The online ca services are giving you reliable and up-to-date tax advice
  • Also, making time for you when you require them in budgeting, financial planning, and tax planning.
  • They set clear pricing details and a list of services, so you’re fully aware of what you’re delivering and what you’re getting
  • Their expertise, online ca consultant, and care will generate more time for you to spend on your other business activities.

What types of services are provided by the Chartered Accountant?
There are various services that are provided by the online chartered accountant. You must have a look over all the online ca services :

Accounting audits
It is one of the most essential functions of a Chartered Accountant and most important accounting services. It is in accounting audits that the specific training, skill, and experience of a CA often comes into play. Accounting audit is the examination of books, vouchers, documents, and accounts of any provided business to establish the truth of financial statements.
Accounting audits assess accounting systems for faults and monitor organic control to decide the degree of organizational fraud risk and to develop unusual trends in financial data. 
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Taxation
Tax information is essential to the effective economics of business administration. A CA is well qualified and has the expertise to offer tax compliance services. They introduce tax administration and methods of improvement to support your business. Also, helps in the efficient management of the procedure of conformity and focuses on a larger planned vision for total tax performance.
Having virtual chartered accountants is holding well in tax preparation, serving assesses before the Income Tax authorities. Even, they provide you with general advice on taxes. A CA’s expertise in compliance audits is a newly needed service by the tax department in assessing complicated cases that have great revenue potential.
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□ File GST Registration 299₹ ->>

Company formation in India

All the online chartered accountants advise on Company Registration in India. Give the perfect solution for Company Formation in India, Private limited Company Formation and Company Incorporation in India. CA is often called upon to investigate the financial position of the company regarding issues such as purchase or sale, share capital, mergers, remodeling, and financing a company. They also examine the performance in management, administration, and profit margins.

Annual Accounts
 Whether you are a sole trader or in partnership, or a limited liability partnership or a limited company. The online ca consultant can help you with annual account preparation. Also helps in the management of the accounts. 
They can prepare periodic accounts (monthly, quarterly, etc) for you. These can serve as a helpful tool with which to run your company.

Management accounting
This is the formulation of plans, performance evaluations, and day to day control of the accounting actions of an organization. Virtual chartered accountants have leading-edge management systems required to drive a successful company. If you require to raise finance for whatever reason (e.g. business start-up, to fund business expansion or transfer) ca near me services can help you make that all-important business plan. This will know your wants. So, you can get assistance in raising finance from external services.

Hire me CA Near me


Financial and investment planning
They form wide and powerful strategies that increase your financial security. An online car consultant gives initial financial advice, support in the implementation of the financial plan. Also, carry out continuous investment portfolio management.
 
 Assurance services
An online chartered accountant gives accounting support services that involve the analysis of financial documents. Also, any transactions such as loans, contracts, and financial websites. These services help decision making in any business or company as the report verifies the correctness and validity of the reviewed items.

Cost accountancy
An online ca consultant gives advice services to the management of the proper course of action about cost and performance. Also, they determine the cost of production and methods at various levels of operation in the manufacture of products and in-service production.

Share Valuation
They offer the valuation of shares of private and public companies in the existence of a takeover or any other acquisition.
The online chartered accountant plays a major role in helping businesses and organizations in the effective utilization of support thus enhancing efficiency and helping them get their objectives or meet their goals.


The Bottom Line
Legalpillers is the virtual chartered accountant's services provider. They have a list of various online ca services. You can easily register your business, company, corporate with the help of an online chartered accountant. Also, you will get proper advice regarding tax plans, financial management, budgeting by our online ca consultant.
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FAQ
 
What are chartered accountants?
A chartered accountant is the one who looks after the accounting and bookkeeping services of the organizations. Refers to professional accountants who are qualified for all activities in accountancy. Such tasks involve auditing financial statements, tax planning, financial management, etc. If you want to hire CA online, get connected to Legalpillers.

What are the services in accounting?
Accounting Services means the analysis, processing, and exposure to financial information about business entities. Also, including financial accounting, management accounting, auditing, cost containment, and auditing services, taxation, and accounting information systems.

Where would you find the best Chartered Accountants (CA) in India?
The Best chartered accountants in India can be found with Legillerpillers. They have all the online ca services and have virtual chartered accountants.
 
Why do you need to hire a Chartered Accountant for your business?
The online ca consultation will always help you in your business financial position, tax planning, financial management, and business budgeting. If you want to Hire CA online Legalpillers is here to assist.

How does an online CA services provider work?
An online CA service is a digital platform where you can get the perfect financial & compliance answers for your business. Online CA services help in defeating the geographical barriers and assists you take benefit of Chartered accountant services online. Contact legalpillers for more details.

What skills do Chartered Accountants possess?
The skills do Chartered Accountants hold :
  • General business interest and awareness.
  • Self-motivation and responsibility, in order to connect study while working.
  • Communication and interpersonal abilities.
  • Organizational and time management abilities.
For more details get in touch with legalpillers. They will provide the best online chartered accountants.

How to find an income tax consultant?
To find income tax consultants you must get in touch with the best online ca service providers. Legalpillers is one the online ca services providers in India. They will give expert advice and necessary consultants for your organization

Can I hire CA services online?
Yes, you can hire Ca services online with Legalpillers. They offer the best ca services at budgeted prices for all the organizations. Get the best legal compliance with them. contact today or login to the website of www.legalpillers.com.

What are the online CA services provided by Legalpillers?
Legalpillers is giving free online CA directory. Where you can get the best business Income Tax, Consultant. Online Company Registration, IEC code, FSSAI Registration, Bookkeeping & Accounting, Online CA for Auditing, MSME Registration, GST Registration, etc.
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Related Blogs - 

TYPES OF COMPANY REGISTRATION IN INDIA FOR STARTUPS

ALL ABOUT CA SERVICES

HOW TO GET FSSAI LICENSE FOR HOME BASED FOOD BUSINESS?

GST RETURN – WHAT IS GST RETURN? WHO SHOULD FILE, DUE DATES & TYPES OF GST RETURNS
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WHAT IS AN IMPORT EXPORT CODE?
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