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Other Registrations

Get Expert Assistance on Other Central and Local Registrations – Say Bye To All Start-Up Worries

The process of  incorporation of business does not get completed upon receiving of certificate of incorporation to carry VAT CST Service Tax Trade License Registration Servicesyour business, as you would require other set of central and state approvals to actually commence your business fully.  These registrations includes, VAT Registration, The Shops & Establishment Act, Professional tax, Central Excise and Custom Duty, Goods and Service Tax,  Patents and Trademark,  Employees’ Provident Fund Organization, Trade Licenses and such other registrations.

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FAQ on some of common central level registrations required

What is Permanent Account Number (PAN) and why is it required?

Permanent Account Number is provided to taxpayers and it helps them to pay taxes and file returns without inconvenience. It is mandatory to quote PAN in return of Income and during all correspondence with the Income-tax authorities. If you do not have a PAN you loose the opportunity to execute the following:

  • Opening a Bank Account in India including Demat & Trading Account
  • Getting a credit card
  • Sale or Purchase of any property or motor vehicle in India
  • For obtaining a telephone or cellular telephone connection
  • Payment of an amount of Rs.50,000 or more to a company for acquiring shares issued by it
  • Payment of hotels/restaurants bills exceeding Rs.25000 at any time
  • Bank deposits exceeding Rs.50000

What is Tax Deduction and Collection Account Number (TAN) and why is it required?

Tax Deduction and Collection Account Number (TAN) is a unique alpha-numeric identity provided by the Income Tax department to persons associated with deduction and collection of tax. You can acquire a TAN number even if you do not have a PAN card. Getting a TAN Number is important due to the following reasons:

  • All persons who are responsible for deducting or collecting tax are required to obtain TAN.
  • It would bring convenience in procedures involving tax deductions and collections
  • You can deduct tax from various payment heads like salary, dividend and interest without applying for separate TAN numbers
  • You don’t need a different TAN for TCS and TAN number can be used in challans and certificates connected with TDS and TCS.

What is Service Tax and why is it required to get registered under the Service Tax Act?

Every service provider is liable to pay service tax on the taxable amount of service rendered and is required to get registered with the jurisdictional Central Excise Office if his ‘aggregate value of taxable service’ in a financial year exceeds nine lakh rupees( by filling Form S.T.1). Benefits of registration can be understood in the following cases:

  • You cannot pay service tax and file returns  if you are not registered
  • If the service provider provides services from different premises, registration is required of only that premise from where the centralised billing is done.
  • Any offence of failure of non-registration will attract a mandatory penalty of rupees five hundred.

When is it required to get register with Employees’ Provident Fund Organization (National) ?

Those establishment which employs 20 or more persons and engaged in any of the industries as notified by the government is required to get registered under The Employees Provident Funds and Miscellaneous Provisions Act (1952).  At present, the government has notified 183 industries which attracts this provision.

This list is not exhaustive in nature and it includes other registration services which are business specific.

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FAQ on Some of common state level registrations:

What is Value Added Tax and why is it required?

VAT registration is required for any business that is into sales either by way of trading, manufacturing, whether individuals, partnerships, Companies, or other forms of businesses. This is to be applied with the local Sales Tax Department in the prescribed forms along with specified fees and necessary documents. On completion of the formalities, a Tax Identification Number (TIN) is granted. The following are some of benefits of having a VAT registration:

  • After VAT registration you get your TIN No.
  • Tax invoices can be issued to other parties, as without TIN No. it is not possible.
  • Get the benefit of input tax credit i.e. The difference between purchase tax and output tax, which will be set-off against the net tax payable if your sales tax arises in transaction.
  • The tax status of your business can be seen on vat websites by just putting your TIN number wherein you get all the details.
  • Taxability of a registered dealer is lower than an unregistered dealer.
  • Increases credibility as some businesses prefer dealing with suppliers that are VAT-registered.

What is Central Sales Tax (CST) and why is it important?

Every dealer who effects inter-state sale is required to register with State sales tax authorities who are empowered to grant registration under CST Act. CST arises in the state from which goods are sold. The following are some of benefits of having CST registration:

  • A registered dealer is charged either lower or NIL rate of CST.
  •  A registered dealer has to pay actual sales Tax @ 4% only on goods purchased by him whereas an unregistered dealer is charged @ 10%.
  • A registered dealer also get exemption from CST in certain cases on filling certain forms to which an unregistered dealer is not eligible.

What is the procedure for Registration under the The Shops & Establishment Act?

The Shops and Establishment Act is a State legislation and registration of shop/establishment is mandatory within 30 days of commencement of work. A statement containing the employer-”s and manager-”s names and the establishment’s name (if any) and postal address must be sent to the local shop inspector with the applicable fees. After the details and the prescribed fees are received and the correctness of the statement submitted is satisfactorily audited, the certificate for the registration of the establishment is issued as per the provisions of the Act.

What is the procedure for Registration under the Profession Tax Act?

Every employer (not being an officer of the government) liable to taxation shall obtain a certificate of registration from the registering authority using Form 1.  Depending on the nature of the business, the application should be supported with such documents as proof of address, details of company registration number, company deed, certificates under any other act, and so forth. After verification, a regular registration certificate is issued.

What is a trade license and why is it required?

Trade License is a certificate/document which grants you permission to carry on the particular trade or business for which it is issued. The trade license is a means to ensure that the manner in which the business is being carried on is according to the relevant rules, standards and safety guidelines. Therefore, in the general interest of the citizens, it is necessary to have a trade license.

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This list  is not exhaustive and may include other state specific registration requirements.  We render services in aforesaid registrations all over the country, which includes cities, such as  Delhi, Mumbai, Bangaluru, Chennai, Kolkata, Pune, Hyderabad, other cities.