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.

Six important aspect of Registration Private Limited Company in India.

• For Registration Private Limited Company in India  must have minimum paid-up share capital of Rs.1 Lakh or such higher capital as may be prescribed
• Minimum two directors and minimum two shareholders are required.
• Restriction on right of transfer of shares as per the AOA.
• Number of shareholders is limited to fifty.
• An invitation to public to subscribe for any shares or debentures is prohibited.
• No invitation of deposits from persons other than members, directors or their relatives is allowed.

STEPS REQUIRED TO BE PERFORMED TO INCORPORATE A PRIVATE LIMITED COMPANY:

• Obtain Director Identification number
• Get your digital signature certificate
• Get the name of the company approved
• Memorandum and articles of association vetted and printed
• Get the documents stamped
• Get the memorandum and articles signed by at least two subscribers
• Get the certificate of incorporation.

CALL NOW: 9818092002

TIME FRAME TO INCORPORATE A PRIVATE LIMITED COMPANY:

• Takes average 14 days to complete private limited company incorporation in India. .

FIVE ADVANTAGES TO INCORPOARTE A PRIVATE LIMITED COMPANY:

• If the company experience financial distress because of normal business activity, the personal assets of shareholders will not be at risk of being seized by creditors.
• Business not affected by the status of the owner.
• Minimum number of shareholders required is only2.
• More capital can be raised as the maximum number of shareholders allowed is 50.
• Scope of expansion is higher because easy to raise capital from financial institutions.

POST INCORPORATIONFORMALITIES:

• Obtaining Permanent Account Number (PAN) from Income Tax Department
• Obeying Shop and Establishments Act
• Registration for Import Export code from Director General of Foreign Trade
• RBI approval for Registration Private Limited Company in India being foreign companies investing in India and FIPB approval, if required.v The directors of an Indian company, both Indian and foreigner directors, are required to obtain Director Identification Number – DIN and Digital Signature Certificate – DSC

BRANCH OFFICE REGISTRATION IN INDIA –

Branch Office Registration in India-

is an office that serves a certain geographic or demographic area to expand the access of customer services and other services available to beyond the home office.

Foreign Companies wishes to expand business in India consider seriously opening Branch Office in India . Foreign Companies must ensure that they must comply with the eligibility Norms set by Foreign Exchange guidelines regarding profit and capital requirement.

In case foreign company is not able to meet capital and profit requirement, they can consider to open Subsidiary Company in India subject to Foreign Direct Investment guidelines in India.

Foreign Companies are allowed to carried out only specified activity as mentioned in this article.

KEY SIX FEATURES OF BRANCH OFFICE REGISTRATION IN INDIA :

ü The name of Indian BRANCH office shall be same as parent company.

ü The governing body for the BRANCH office License is Reserve Bank of India.

ü It is suitable for foreign Companies looking to setup a temporary office in India and not interested or not planning to have long term plans for the Indian operations.

ü The BRANCH office does not have any ownership; it is just extension of the exiting company in the foreign country.

ü All the expenses of the BRANCH office are met by the head office, if it does not have the revenue from Indian operations.

CALL NOW: 9818092002

ELIGIBILITY GUIDELINES FOR SETTING UP A BRANCH OFFICE REGISTRATION IN INDIA :

• The company looking to start a Branch office in India shall have a profitable track record during immediately preceding five years in the home country.
• The Net Worth i.e total of paid-up capital and free reserves, less intangible assets as per the latest Audited Balance Sheet or Account Statement certified by a Certified Public Accountant or any Registered Accounts Practitioner by whatever name shall be not less than or equal to.

1,00,000/- .

EIGHT ACTIVITIES ARE PERMITTED TO BRANC OFFICE TO UNDERTAKE:

• Export/Import of goods
• Rendering professional or consultancy services.
• Carrying out research work, in which the parent company is engaged.
• Promoting technical or financial collaborations between Indian companies and parent or overseas group company.
• Representing the parent company in India and acting as buying/selling agent in India.
• Rendering services in Information Technology and development of software in India.
• Rendering technical support to the products supplied by parent/group companies.
• Foreign Airline/shipping Company.

PROCEDURE FOR SETTING UP A BRANCH OFFICE IN INDIA:

• Branch office can be set up in India only with the prior approval of RBI.

TIME FRAME TO OPEN A BRANCH OFFICE REGISTRATION IN INDIA :

• Our team assist the foreign companies to open branch office in India in 3-4 months.