How to ensure new business setup in India

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Due to the increasing working population and their enhancing buying power, retail is one of the fastest growing economic sectors of India. If ventured correctly, you can reap significant profit in the retail field. But always remember the fact that a new business setup in India needs great research, hard work and investment of time and money. So, if you are a novice in this field, it is advisable to search for a credible company that can help you set up your new business venture following the right procedure, rules and regulations.

The next step involves registering the name of your company with the Registrar of Companies. Here, the business set up experts will duly guide you in submitting the required documents for company registration along with the registration fees. When the process is complete you will receive the certificate of company incorporation in gurgaon, legally approving the name of your new company.

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GSTN Enrolment Window To Re-Open On June 1 for 15 Days

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The process of migration of 84 lakh VAT, excise and service tax assesses to the GSTN had started in November, with a phased enrolment plan for each state in company formation gurgaon. The government had earlier set March 31 as the migration deadline, which was later extended to April 30, following which the government shut down the enrolment process for technical reasons.

The GSTN is conducting a pilot on GST System Software from May 2-16 with 3,200 taxpayers drawn from each State/UT and Centre as participants to test the three modules of company registration in gurgaon, Returns and Payment and to get their feedback on the live system, the statement said.

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How GST Will Impact The Wallet Of The Common Man.

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Since the passing of the GST Constitutional Bill by the Rajya Sabha in August last year, the country has been preparing itself for the new tax regime. The new GST law is India?s biggest tax reform initiative which is expected to improve compliance levels, increase government revenue in company registration in India and create a common playing field for businesses by amalgamating a host of central and local taxes.

The present rate of service tax is 15 percent and is applicable to most of the services, excluding essential ones like cultural activities, ambulance services, and certain pilgrimages and sports events. Under Goods and Service Tax, this rate would increase to 18 percent making the services more costly. For some goods like edible oil, textiles, etc. the excise duty is nil and the VAT in several states is 5 percent. Hence, the total cost of such goods is close to 8%-9%. With GST, the cost of such goods is likely to increase and this might put a hole in the budget of a common man to wholly owned subsidiary in India.

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Revenue Department Allows More Time For GST Registration Till April.

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“So far, 74 per cent of the VAT assessees have migrated to the GSTN portal, while only 28 per cent of the excise and service tax assesses have enrolled for the new regime. We are going to buck up now and I have asked the department to complete the enrolment process with company registration in India.

Out of the 80 lakh assesses, some may not require registration a new company in India under the GST as they are below the threshold of Rs 20 lakh for GST levy. At present, VAT and service tax assessees with turnover of Rs 10 lakh are required to get themselves registered with states and the Centre, respectively.

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Understanding Incorporation Requirements

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In order to incorporate a business, you must file a company formation documents with the state of the government. Unlike a sole ownership or general partnership certificate, both of which are form as soon as the owner or owners conducting business, a corporation law or LLC must be created with the state, and each state has its own incorporate requirements.

Regardless of whether you are forming a Corporation or a corporation company the company formation documentary is called the Articles of Incorporation or Certificate of Incorporation. This document provides the state with necessary information on your business. The information included of Incorporation is a matter of public record, meaning that anyone can access it.

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Private Ltd, LLP or Public Ltd Which Is Choose When Going For New Company Registration in India

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Fortunately, the new rules and regulations are easier when it comes to start-up a new business in India. Also, there are hassle free new company registration service providers available in India who take care of A to Z of forming and registration of the company. In this post, we will touch upon various forms of new company registration In delhi presently available and which is best suited for your business.

To start with, below mentioned is explanation for new company registration in gurgaon that are done in India:

Sole Proprietorship:The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.

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Two More Advance Pricing Agreements Signed by the CBDT

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The Central Board of Direct Taxes (CBDT) has closed the year 2016 by entering into two more unilateral Advance Pricing Agreements (APAs) today. The APA Scheme was introduced in the Income-tax Act in 2012 and the “Rollback” provisions were introduced in 2014. The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance in chartered accountant firms in mumbai. Since its inception, the APA scheme has evinced a lot of interest from taxpayers and that has resulted in more than 700 applications (both unilateral and bilateral) being filed in just four years. The two APAs signed today pertain to the Information Technology and Automobile sectors of the economy. The international transactions covered in these agreements include Software Development Services, IT enabled Services, Manufacturing and Business Support Services. With this, the total number of APAs entered into by the CBDT has reached 117. This includes 7 bilateral APAs and 110 Unilateral APAs. In the current financial year, a total of 53 APAs (4 bilateral APAs and 49 unilateral APAs) have already been entered into. The CBDT expects more APAs to be concluded and signed in the near future tax consultant firms in delhi.

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Ease of doing business: Government Plans to Introduce New Integrated from For Company Registration

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The government plans to introduce a new version of the integrated company incorporation gurgaon form in a measure aimed at enhancing ease of doing business that targets reduction in average number of days for incorporating a company to one to two days from more than four days at present.

The reservation of a name, incorporation of company and appointment of directors of the proposed company can be filed in the integrated form. The government said the time taken for company registration gurgaon has already been halved through measures introduced to enhance ease of doing business.

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Ordinance Likely To Amend Payment Of Wages Act

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A mid currency crunch, the government is mulling over bringing in an ordinance to amend the payment of wages Act for allowing business and industrial establishments to pay salaries through Cheques or by electronic modes.
“The government may bring an ordinance to amend Payment of Wage Act, 1936, to nudge employers of certain industries to make payment through electronic modes and cheques,” a source said Direct foreign investment in India.
The source further said, “The bill for the purpose was tabled in the Lok Sabha on December 15, 2016. It can be pushed for passage in the Budget session next year. Thus, instead of waiting for two more months, the government can issue the ordinance and later it will be passed in Parliament.” Standard practice is, government brings ordinance to amend laws for immediate implementation of new rules. An ordinance is valid for six months only. Government is required to get it passed in Parliament within that period in accounting outsourcing companies in India.
The Payment of Wages (Amendment) Bill, 2016, seeks to amend Section 6 of the principal Act to enable employers pay wages to their employees through cheques or by crediting it to their bank accounts electronically. The Bill was introduced by Labour Minister Bandaru Dattatreya amid din over demonetisation issue.

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More Online Services May Face Google Tax

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The government is likely to expand the scope of the equalisation levy, the so-called “Google tax”, to bring more digital transactions into the tax net in the upcoming budget to curb tax avoidance by multinational chartered accountant firms in mumbai. Online sales of goods and services; downloading of software, songs, movies and books; and online consumption of news are among the services that the government may consider for the levy.

The government has earned Rs.100 crore in revenue on account of the equalisation levy so far. Companies like Facebook, Yahoo, Twitter and Google earn significant revenues from India from local advertisers. A committee set up by the Central Board of Direct Taxes to examine indirect taxation in India of e-commerce had recommended an equalisation levy of 6-8 per cent on 13 broad services based on the OECD’s Base Erosion and Profit Shifting guidelines.

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