List of registrations to be done by a business and when?

In our previous article we have mentioned the list of necessary registrations which are required to start and operate your business in Kolkata.

In this article we would like mention the due dates within which such registrations shall be completed by an entity for a smooth and hassle free business.Due Date

Service Tax- Service provider whose aggregate value of taxable service in a financial year exceeds Rs 9 lakhs shall apply for registration within 30 days from the date such turnover exceeded Rs 9 lakhs. An Input service distributor shall apply for registration within 30 days from the date of commencement of business. However under the reverse charge mechanism the registration must be done within 30 days from the date on which the liability to pay service tax arises.

Value Added Tax (VAT)–  Every assesse shall within 30 days from the date when he becomes liable to pay VAT shall get himself registered by making an application for registration to the commissioner .

Professional Tax (PT)-  Every employer is liable to pay to Professional tax on behalf of his employees whom he pays Salary/ Wages. Professional tax registration must be obtained from the State’s tax department within 30 days from the date of employing staff in a business.

Employee State Insurance Act (ESI)-   It is the statutory responsibility of the employer to get their factory/establishment registered within 15 days from the date of its applicability.

Provident Fund-   PF registration must be done within 30 days of eligibility. The employer shall be liable for the damagaes and other penal consequences for non registration. Generally the registration is normally granted within a week time.

Trade License-  Every person engaged in any trade or profession must obtain a trade license as soon as possible from the commencement of the trade or profession. Trade license needs to be renewed periodically by the person who has already obtained the trade license.

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