Who should file an MSME Form-1 As per the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, all Micro, Small, and Medium Enterprises (MSMEs) require to file an MSME Form-1. This form is also known as the Udyam Registration Form. The Udyam Registration is a one-time registration process that require for all existing… Read More »
The implications of non registration with GST Non-registration with GST can have various implications, such as: If a business is not registered under GST, it cannot collect GST from its customers. This means that the business will have to bear the tax burden on its own, which could impact its profitability. To visit:https://www.gst.gov.in/ Penalty for… Read More »
Is one GST registration possible for different businesses Yes, the GST Act permits businesses to operate multiple businesses, business verticals, and business branches using the same GSTIN. This concept is known as Vertical Business in GST. Under this concept, you have the flexibility to register your various businesses and business branches under a single GST… Read More »
Consequences of not renewing DSC Consequences of not renewing DSC, A Digital Signature Certificate (DSC) is a secure digital signature use for signing electronic documents and transactions. In India, DSC is utilize for various purposes, including filing income tax returns, GST returns, company registration, and other legal documents. Once a DSC reaches its expiration… Read More »
Verifying GST Registration of a Company Verifying GST registration of a company, Statutory audit and tax audit are two distinct types of audits conducted for different purposes. Statutory audit: A statutory audit is perform to ensure that a company’s financial statements provide an accurate and fair view of its financial position and performance. It is… Read More »
Establishing an LLP in India Establishing an LLP in India: Here is a detail guide on how to establish and incorporate an LLP (Limited Liability Partnership) in India: Step 1: Acquire a Digital Signature Certificate The initial step in the incorporation process of an LLP is to obtain a Digital Signature Certificate for the… Read More »
Filing income tax returns Filing income tax returns is mandatory for several reasons: Legal Requirement The law mandates individuals and entities to file income tax returns within the specified due dates. Failure to comply with this requirement may result in penalties and legal consequences. Income Assessment Filing tax return allows the tax authorities to… Read More »
Restrictions in Pvt Ltd Company Registration Restrictions in Pvt Ltd Company Registration, In India, registering a Private Limited Company is subject to specific restrictions, which are outlined below: For the formation of a Private Limited Company, it is necessary to have a minimum of two directors, while the maximum limit stands at 15 directors. Additionally,… Read More »
Start a Private Company in India To start a private limited company in India have so many rule and regulation. Initiating the establishment of a Private company involves several sequential steps, outlined as follows: To visit https://www.mca.gov.in/ Obtain a Digital Signature Certificate (DSC): The initial step entails acquiring a Digital Signature Certificate (DSC) for the… Read More »
Opening a private limited company at home Starting a business is a significant step, and many entrepreneurs explore various options for setting up their companies. One common question that arises is whether a private limited company can be registered at a residential address. What is a Private Limited Company? A private limited company is a… Read More »
