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December, 2013

Trademark Registration in India

Posted By admin on December 24, 2013 No Comments

 

Why trademark:

  1. Trade Mark associates the standardization of Goods and Service and trade mark add tremendous value to the product and services as consumer buy/utilize services on trademark basis also. It has great value and no action taken by the company to protect this value will result a tremendous loss to the corporate
  2. Corporate adopt pro active strategy for protection of their trade mark and intangible assets
  3. With the advent of branding and the increase in value being attached to it, the issue of protection of consumers from unauthorized violation of brands is gaining importance. Most often than not, a brand is represented by a mark, called its trademark.
  • The registration of trademark provides the proprietor of the trademark, exclusive rights to use the TM in relation to the goods or services.
  • The registration of the trademark is a prima facie proof of validity of the registered trademark. In any legal proceeding, this is highly important.
  • Business can use TM at the right side of trade mark after applying for the same.

Key Point regarding protection of trade mark

There are 42 classification as per Indian Trade Mark act and a trade mark can be associated with one or more classification. Selection of appropriate classification and drafting the application is the most critical aspect of the same.
Documents required:

  1. Name of the Trademark/Service Mark to be registered.
  2. Full Names, Address and Nature of the Business of the Applicant.
  3. Full Name of the Proprietor/Partners of the Applicant firm.
  4. Date of first use of the Trademark/Service Mark in India List of goods/services
  5. Soft copy of the trademark to be registered.

Time taken:

  1. The overall time taken by us in searching, Drafting and filling trade mark application is 1-2 days.
  2. After Application government publish this trade mark application in different journal and invite objection. If no objection received in a particular period, trade mark is granted. Normally trade mark is registered in 2 year time
  3. After registration the trade mark, business can use R at the right hand upper side of the trade mark
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VAT Registration in India

Posted By admin on December 24, 2013 No Comments

VAT REGISTRATION

MEANING :

VAT Registration in India then Value Added Tax (VAT) is a tax collected on the sale of your goods or services and relinquished on the purchasing of the goods or services that will be used in your business.

FOLLOWING ARE THE MAIN FEATURES OF VAT:

  • ü VAT is imposed on goods at import stage, manufacturing, wholesale and retails levels;
  • ü A uniform VAT rate of 5%-12% percent is applicable for both goods ;
  • ü VAT is payable at the time of supply of goods and issuance of invoice;
  • ü Tax returns are to be submitted on monthly or quarterly or half yearly basis as notified by the Government.
  • VAT Registration in India

FOLLOWING STEPS ARE REQUIRED TO BE PERFORMED FOR VAT Registration in India:

  • The application and documents is to be submitted to the local VAT office.
  • Local VAT Office shall inspect the premises within 3 days after submitting the application.
  • On payment of the Professional fee, TIN No. will be allotted and Certificate will be issued within a day.

DOCUMENTS REQUIRED FOR VAT REGISTRATION IN INDIA :

  • Copy of rental agreement of business place.
  • Copy of the address proof, ID proof of the Proprietor / Partner / Director.
  • 4 passport size photographs of Proprietor / Partner / Director.
  • PAN No. & Bank Account No.
  • Details of business activities.
  • Surety to the extent of Rs 1,00,000

TIME FRAME TO REGISTER VAT:

  • The average time to process applications is 4-5days.

RATES OF VAT:

  • The standard rate of VAT is 12.5%. There are reduced rates of 4% and 1%.
  • The minimum annual turnover for V.A.T. registration is INR 10 Lacs .but vat provision become immediate applicable as soon as business enter into any central purchase.
  • V.A.T. returns are filed on a monthly or quarterly basis.

ADVANTAGES OF

VAT REGISTRATION IN INDIA :

  • After VAT registration you get your TIN No.
  • Tax invoices can be issued to other parties, as without TIN No. it is not possible.
  • Get the benefit of input tax credit i.e. the difference between purchase tax and output tax, which will be set-off against the net tax payable if your sales tax arises in transaction.
  • The tax status of your business can be seen on vat websites by just putting your TIN number wherein you get all the details.
  • Taxability of a registered dealer is lower than an unregistered dealer.
  • Increases credibility as some businesses prefer dealing with suppliers that are VAT Registration in India.
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Service Tax Registration in India

Posted By admin on December 24, 2013 No Comments

SERVICE TAX REGISTRATION

It is a tax which is payable on the services by the service provider. This tax is payable by the service provider to the Govt. of India. However, service provider can receive the amount from the service receiver and shall submit the same to the Govt.

REGISTRATION SHALL BE OBTAINED WITHIN 30 DAYS FROM:

  1. The date of commencement of business or introduction of levy.
  2. The date of crossing the limit of Rs. 9 lakhs in the case of SSSP.
  3. c. The date of commencement of business.

FOLLOWING DOCUMENTS ARE REQUIRED FOR REGISTRATION:

  • Self certified copy of PAN
  • Copy of MOA/AOA I case of companies
  • Copy of board resolution
  • Copy of lease deed
  • Registration certificate of partnership firm.
  • Copy of a valid power of attorney

PROCEDURE TO MAKE AMENDMENTS WITH REGARD TO CHANGE IN PARTICULARS:

  • Changes shall be intimated to the department within 30 days of such change.
  • It should be clearly highlighted on the form that ST 1 is being filled for an amendment
  • Submit a certified copy of registration certificate
  • Application may be accompanied by a note explaining the circumstances that led to such change.

TIME FRAME FOR REGISTRATION OF SERVICE TAX:

  • Ø It takes average time of 7-8 days after submitting the complete application.

DUE DATES OF SERVICE TAX:

  • Assessee is an individual, proprietor, or partnership firm, service tax is to be paid on quarterly basis. The payment is to be made by the 25th day of the month following the quarter.
  • In respect of other categories, tax is payable on monthly basis and to be made by 25th day of the succeeding month.

PENALTY:

A person who

  1. is liable to pay service tax or
  2. is required to take registration and fails to obtain registration shall be liable to a penalty of ` 5,000 or ` 200 for every day when the failure continues till the date of compliance, whichever is higher.

REGISTRATION UNDER SERVICE TAX LAW:

  • Every person providing a taxable service of value exceeding Rs. 7 lakhs is required to register with the central excise or service tax office having jurisdiction over the office of such service provider.
  • The ‘Input Service Distributors’ also require registering themselves.

PROCEDURE TO CANCEL SERVICE TAX REGISTRATION:

  • Cancelling service registration is a simple process.
  • Submit a letter to jurisdictional officer requesting cancellation and surrender the original registration certificate.
  • Get dated acknowledgement on the copy of the letter submitted to the department.
  • Then the department will issue letter cancelling the registration.
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