Due Date of Filing GSTR-9

A SIGN OF RELIEF FOR GST TAXPAYERS: Due Date of Filing GSTR-9 & 9C has been extended.

The due date of filing GSTR-9 viz. Annual Return and GSTR-9C viz. Reconciliation statement has been extended for F.Y. 2017-18 to 31-DEC-2019 and for F.Y. 2018-19 to 31-MAR-2020.

Government has also simplified these forms by marking various fields as “optional” which were “compulsory” in the earlier model making it difficult for the applicant.

The above changes in GSTR-9 & 9C were made by CBIC by way of notification on 14th November, 2019. Click on the link for the notification by CBIC.

Read- CBIC

Apeda Registration

How To Get APEDA Registration?

What is APEDA?

APEDA was established by Government of India under Agriculture & processed food product export development authority act, 1985 passed by parliament. APEDA act came into force in 1986.

APEDA has its presence in almost all agriculture rich states of India and has been providing service from his Head office (HO) which is located in New Delhi, 5 Regional offices (RO) & 13 Virtual offices (VO).

What are the functions of APEDA?

  • Development of agriculture related Industries: By way of providing financial assistance, surveys, research studies, reliefs or subsidy schemes etc.
  • Registration: Export registration on payment of required fees.
  • Setting quality standards of the product for exports.
  • Carrying out inspection.
  • Training & development of industrial personnel.
  • Packaging and marketing of scheduled products.

What are various product monitored by APEDA?

  • Fruits, vegetables, meat, poultry, dairy, biscuits, honey, jaggery, cereal, groundnuts, peanuts etc. and various products associated with it.

APEDA REGISTRATION PROCEDURE ONLINE

As per section 12 of APEDA act, 1985 every person exporting one or more scheduled products shall opt for APEDA registration, before the expiry of one month from the date on which he undertakes such exports or before the expiry of three months from the date this act came into force, whichever is later. The act has given the authority to extend duration of APEDA registration whenever it thinks fit.

  1. Go to APEDA registration website.Apeda Registration 
  2. Tap on “Register as member” icon.
  3. Fill the basic details IE Code, name of the company, Email ID & contact no.
  4. An OTP will be send to your Email ID & registered number; the exporter need to first verify both of them separately.
  5. Once verification is done, the exporter will be required to fill the application form and upload the necessary documents. {Note: the documents should be in JPEG/JPG/PDF/PNG format}
  6. Exporter can save the information and fill the application form later & edit the filled data until online payment is not made.
  7. APEDA registration fees of INR 5000 + GST @18% should be paid through any of the following modes:
  8. Online mode: credit/debit card
  9. Offline mode: Demand draft in favor of “APEDA”
  10. Application number is generated once the payment is made, which must be noted down for future reference.
  11. Login details will be sent to the registered Email ID & Contact number which will give access to their account through “Export login”
  12. Exporter can view the status of the application by clicking “Track Application” icon.
  13. In case of any missing information in the application form, the export will need to resubmit the form online.

DOCUMENTS REQUIRED

  1. Self-attested copy of IE Code issued by Directorate general of free trade.
  2. Bank certificate
  3. In case individual wants to register as “manufacture exporter” then it must be referred to respective ministries/agency.

Related Blog –APEDA Registration: Procedure of filing & tracking status

India – Centre Of Fourth Industrial Revolution

Centre of fourth industrial revolution related to the development & application of emerging technologies such as Artificial Intelligence (AI) & Block-chain technologies. This focused on the development of various pilot projects that can be adopted by policy makers & regulators globally. Headquartered in San Francisco; One of the regional hub is launched in India in 2018. Now the host governments are committed to provide suitable environment for such pilot projects launched by the network.


According to IMF, India would be the key player in making south Asia the centre of global growth.

Read More- Economictimes

Startup Registration

How To Register A Startup Company In India

WHAT IS STARTUP?

Due to subjectivity & complexity involved Startup cannot be clearly defined. But depending on the type of business it is involved into, revenue generation model, uniqueness of the project we can define what Startup is all about.

Startup is a newly established business which is in its early stage with a different/unique product or service. What differentiates it from the regular business is the element of innovation they possess. This Startup either comes up with a new product or redevelops an existing product/service into something better.

company

STAGES IN A STARTUP LIFECYCLE

PRE-STARTUP STARTUP GROWTH
Discovery: Identify a potential/quantifiable product or service for target market.   Validation: once the product hits the market & sale process is on. Efficiency: Design business model in such a way that it increases your customer base.   Scale: Pushing the capacity of the business to ultimately increase the growth of business in a sustainable manner. Maintenance: maximising the benefits of the company even during the tough times like economic slowdown.   Sale/renewal: decision to sell the business to some big brand or inculcate huge resources that will help your enterprise to continue.

“STARTUP INDIA”

With the intent to build a strong business environment in India, to drive sustainable economic growth & generate large scale employment opportunities, Government of India launches “STARTUP INDIA” in 2016.

According to the Ministry of Commerce & Industry statistics;

  • India has the second-largest ecosystem in the world.
  • Year-on-year growth of 10-12%
  • Out of 10,000 Startup registration in India- Approximately 4750 are related to technology & development
  • With the launch of “STARTUP INDIA INITIATIVE” in 2016: 1400 new technology & development Startup in 2016 alone.

Therefore, we can say that on average 3-4 technology Startup registration are done each day.

FACTORS CONSIDERED BEFORE GOING FOR A STARTUP REGISTRATION

  • Cost of business
  • Demand/supply
  • Market demographics
  • Market size
  • Location
  • Compliance
  • Competitors analysis
  • Return on investment (ROI)

PROCEDURE & COST (APPX.) FOR STARTPUP REGISTRATION IN INDIA

S. NO PROCEDURE DEPARTMENT TIME (Days) COST (INR) (Approximate)
* Apply for Director Identification Number (DIN) Ministry of corporate affairs (MCA) 1 100
* Obtain online Digital Signature certificate Ministry of corporate affairs (MCA) 3 1500
* Reserve your Business name Registrar of companies (ROC) 2 500
* MOA, AOA, Company stamping documents State Treasury or Authorised bank 1 1300
* Incorporation certificate ROC or MCA 5 *Depending on capital
* Obtain Permanent Account Number (PAN) NSDL or UTIITSL 7 67
* Obtain Tax Account Number (TAN) Income Tax Department 7 57
* Register under office, shops & establishment act Municipal office 2 6500
* GST Registration   12 5100
* Register for Provident fund Employment provident fund organisation 10 N/A
* Register for Medical Insurance Employment state insurance organisation 9 N/A

Related Blog – ATTACH YOUR CAR WITH OLA TO START A BUSINESS

Company Register 1999

All you need to know about Company Registration as a startup

Having an idea isn’t enough. The idea needs to be implemented, executed or importantly needs a real picture. Adding a name would do no good if it is not officially registered to operate. Hence, as a startup the first and foremost requirement is to find a suitable unique name and register officially.

COMPANY REGISTRATION At The LOWEST PRICE !! Call @ (0120) 4231116

Significant to registration process, startup requires a complete setup. Documentation, resources, finances, operations and sales. Well setup can be a lengthy process. It is equally important for founders to know what you might require before you even setup. Maintaining various departments and functioning of an organization depends on the type of company you register.

As the registration process involves key documents different for different countries, in this article we would be focusing on how one can register company in the Indian territory and participate as foreign nationals.

Registration Categories:

As a startup need to register your Company depending on your business structure. However, if you’re not a professional, you need to contact CA’s, CS and lawyers for registration. You can also today register your companies from anywhere across the globe through simple online platforms developed to cater to all kinds of startups willing to establish companies in India.

However, it is imperative you register under the right category and format. As a startup you can register as:

  1. Private Limited Company
  2. Limited Liability Company
  3. Sole Proprietor (One Person Company)
  4. Partnership firm
  5. Proprietorship firm
  6. MSME Registration

As foreign nationals, the best suitable type is a Private Limited Company. Though, to register and start your company in India it is a mandate that you have one Indian as a Director on Board. The same individual should be a permanent resident of India.

It is simple and easy to register as a Private Limited Company in India as it also offers 100% direct investment into a company without any third party or Government involvement. Only a few investments require prior approval from the Central Government. The approvals are particularly required in the following sectors:

  1. Petroleum sector (except for private sector oil refining), Natural gas / LNG pipelines.
  2. Investing in companies in Infrastructure
  3. Defense and strategic industries
  4. Atomic minerals
  5. Print Media
  6. Broadcasting
  7. Postal Services
  8. Courier Services
  9. Establishment and operation of Satellite
  10. Development of Integrated township
  11. Tea Sector
  12. Asset Reconstruction Companies

Incorporation Process for Foreign Nationals:

Incorporating a Private Limited Company in India requires minimum two Shareholders and two Directors. Foreign Nationals are allowed to be the Directors of Indian Private Limited Company.

However, the Board of Directors in Indian Private Limited Company by foreign nationals require an Indian Director who is also a resident. The Indian Director need not be a shareholder in the Company. Thus, most foreign nationals opt to register the company with two Foreign Nationals and one Indian National as Directors of the Company.

Beneficial for foreign nationals in the Indian territory, the foreign nationals can hold 100% shares of the Indian Private Limited Company. Nonetheless, it is important to have two shareholders, and in no scenario can one person or entity hold all the shares of an Indian Private Limited Company.

Further, as Foreign stakeholders there are three best and popular Company Structures to follow:

  1. Foreign Shareholding- 100% shareholding by foreign nationals as Directors. It is compulsory to have 2 foreign shareholders, one or more Foreign Directors and one or more Indian Directors.
  2. Foreign Subsidiary- A foreign national can hold 51% or more shares of an Indian Company. Requires one or more Foreign Directors and one or more Indian Directors.
  3. Joint Venture –  In this case, the shares are held by both Indian and Foreign Directors or Company. Requires one or more Foreign Directors and one or more Indian Directors.

The Incorporation Process:

Once you have decided on the name and structure of the Company, you now need to provide documents and procure your certificate to start operating in the Indian territory. As a part of the process you require:

  1. Obtain Digital Signature
  2. Obtain Director Identification Number
  3. Name Approval
  4. Subscribe to Memorandum of Association
  5. Subscribe to Articles of Association

Nonetheless, the process can be lengthy and tedious. Yet, as a simple and effective procedure, it is the best way to register your Company in India. In case of any difficulties you can reach out to local Indian tax consulting firms or Organizations, Chartered Accountants to further support you and incorporate your Company.

Free Company Registration– * Offer of 1999/- is applicable only to Early Startups.