Objective of Registration of a company The companies Act explains the procedure that governs the registration or incorporation of a firm which leads to formation of an organization. It is highly significant to register a company as the companies Act bestow a legal personality on registered company and by virtue of registration. The company can grab the benefits that are bestowed on a company by virtue of the Act. Private Limited Company Registration in India Register a Pvt Ltd Company
Jsd incorporation offers affordable and quick services to register the private ltd company through online process (MCA Govt. Website) at an affordable price that help to save your valuable time and money. Private Ltd company registration is one of the most famous lawful entities in India. In other words, it’s a legitimate company registration in India with the service of ministry of corporate affairs and gives you rights working together anywhere in India or outside. MCA registers your Pvt ltd organization registration and gives CIN Number with Certificate of Incorporation. Toward the finish of the procedure, you need to just open a current bank account on the company name based on certificate and start your company operations.
Latest Passport size photograph of Shareholders and Directors.
A copy of PAN Card of business entity
A copy of Aadhar Card of Proprietor/ Partners/ Directors
DSC of Partners or Directors, in case of LLP and Company only
No Objection Certificate to be obtained from the owner(s) of registered office
Latest Electricity bill/ Any Tax paid bill/ Municipal Khata Copy
If place is rented, rent agreement is mandatory, else consent letter is sufficient
Latest Bank Statement/ Copy of cancelled cheque/ copy of first page of passbook
Entity should provide registration certificate with MoA- AoA / LLP Agreement or Partnership Deed as applicable
Following are the general criteria of mandatory registration:
• If the total business turnover exceeds ₹ 40 Lakh/₹20 Lakh in case of business of goods/providing service respectively in the concerned financial year (Threshold for North-eastern States is ₹ 20 Lakh/ ₹ 10 Lakh in case of business of goods/providing service respectively)
• Casual taxable person / Non-Resident taxable person
• Agents of a supplier & Input Service Distributor (ISD)
• Electronic Commerce Aggregator
• Person supplying through an E-commerce platform
In addition to above, there are certain other criteria when registration is mandatory. Apart from compulsory registration, one can also apply for GST registration voluntarily.
Following are the exclusions from the GST Registration:
• An agriculturist – for the purpose of agriculture
• Person exclusively supplying goods/ services not liable to tax or wholly exempted from Tax
• Services by any Court or Tribunal established under the law
• Services by an employee
• Services of funeral, burial, crematorium or mortuary, including transportation of the deceased
• Sale of land subject to Schedule 5 (ii)(b), sale of building
• Actionable claims, other than lottery, betting and gambling
• Person falling below threshold exemption limit prescribed
The time of supply of goods shall be earlier of the following:
(a) Date of issuing an invoice by the supplier or;
(b) Last Date by which s/he is required to issue invoice as per the prescribed time period or;
(c) Date on which the supplier enters a payment in his/her books of account or;
(d) Date on which the payment is credited to his/her bank account
The time of supply of services shall be earliest of the following:
Case:1 Where an invoice is issued within the prescribed period
(a) Date of issue of invoice by supplier or;
(b) Date on which the supplier enters a payment in his/her books of account or;
(c) Date on which the payment is credited to his bank account
Case:2 Where an invoice is not issued within the prescribed period
(a) Date on which the service is provided or;
(b) Date on which the supplier enters a payment in his/her books of account or;
(c) Date on which the payment is credited to his/her bank account
In case of supplies of goods or services under reverse charge, the time of supply shall be earliest of the following:
(a) Date of receipt of goods (This applies only for supply of goods and not services) or;
(b) Date on which the payment is entered in the books of accounts of a recipient or;
(c) Date immediately following 30 days from the date of issue of invoice by the supplier.(In case of supply of service date immediately following 60 days from date of issue of invoice shall be considered)
Registered dealers shall be required to file the following returns:
• Monthly Return: Every registered taxable person shall be required to e-file a monthly return for inward and outward supplies of goods and/or services, input tax credit availed, tax payable, tax paid and other particulars within the due date prescribed for the respected month.
• Return for composition scheme: Dealers paying tax under the composition scheme shall have to file a return for each quarter or part, thereof, electronically within 18 days after the end of such quarter.
• TDS return: Every dealer who is required to deduct tax at source shall file a return electronically within 10 days after the end of the month in which the said deduction is made.
• Return for input service distributor: Every input service distributor shall file an e-return for every calendar month or part thereof, within the 13 days after the end of the particular month.
• First Return: Every registered taxable person paying the CGST/SGST on all intra-state supplies of goods and/or services shall have to file the first return from the date on which he/she became liable for registration till the end of the month in which the registration has been granted
• Annual return: An annual return will have to be filed for each financial year by every registered taxable person. This needs to be done on or before the 31st day of December, following the end of the particular financial year.
• Final return: Every registered taxable person who applies for a cancellation of his/her registration shall have to file a final return within 3 months of the date of cancellation or the date of cancellation order, whichever is later, in a prescribed form.
Payment for the tax or any penalty, fees, etc. shall be made via any of these payment modes:
• Internet Banking
• NEFT or RTGS
This amount shall be credited to the electronic cash ledger of the registered dealer.