Tax & Compliances

GST Registration

Get GST Registration For Your Business

GST Registration

NOTE: Re-submission available only one time Detailed information
Any taxable person seeking registration under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input Tax Credit for the taxes on his inward supplies.
In this article, we help you with the list of documents required for GST registration. The following are the documents needed for GST registration and it must be submitted by persons or entities applying for GST registration.
GST has been the most significant tax reform undertaken in India which has improved the ease of doing business and also simplified the tax regime. It has increased the taxpayer base by effectively replacing earlier system of multiple taxes (VAT, CST, Octroi, service tax etc.) into a single unified system.
The GST rate structure is divided into four slabs i.e. 5 %, 12%, 18% and 28%. The highest 28% slab is reserved for especially sinful items like cigarettes, alcohol etc.
Any business that supplies goods or services that has an annual turnover of more than 20 lakhs will have to mandatorily apply for GST registration. In the north eastern states (entities in special category states) those businesses having an annual turnover of more than Rs.10 Lakhs are necessarily required to do GST registration. Any business that has not been registered with GST will not be allowed to avail input tax credit on GST paid and even be penalized. A 15 –digit unique identification number GSTIN (GST Identification number) will be generated upon acceptance of the GST application after perusing supporting documents submitted. A login and temporary password will be issued finally after all verification and acceptance using which you will have to file GST returns.

CGST, SGST and IGST

The CGST or Central GST is the domain over which Central Government has the power to collect taxes.
The SGST or State GST is the domain over which the State Government has the power to collect taxes.
The IGST or Integrated GST is levied on inter-state transactions. The Central
government will collect the same and disburse it to the State governments.

Procedure for GST registration:

Step 1- TRN (Temporary reference number), which is to log in your application
Step 2- Once the application is submitted after 2 hours ARN(Application Reference Number), which is for the tracking purpose.
Step 3- After 7 working days you will get your certificate. If in case of the re-submission another 7 working days will be extended at the maximum.

Documents needed for GST registration:
Documents required of the Individual:
  • Proprietor’s e-mail id and phone number
  • Proprietors PAN card
  • Cancel check of the PAN/ bank statement /
  • Pass book
  • Proprietor’s Passport-size photo
  • Proprietor’s ID Proof- Aadhaar card  or Aadhar Number
  • Rental agreement/ Sale deed in case of own property
  • Electricity bill
Documents pertaining to Business:
  • Business name and nature of business carried out
  • All director’s Passport-size photo
  • All director’s ID Proof- Aadhaar card  or
  • Aadhar Number
  • All director’s e-mail id and phone number individually has to be submitted
  • DSC (Digital Signature certificate)of the Authorized person Latest bank statement or Cancelled cheque with the name of the firm or Proprietor printed.
  • Description of goods / services rendered; and Business Address Proof (If rented) — Rental Agreement or Lease agreement along with latest Electricity bill
  • (If Owned) — Municipal khata copy or Sale
  • Deed or Property Tax
  • Receipt (Latest) along with latest
  • Electricity bill
  • Additional place of business (if any) please mention the address
  • Incorporation certificate
  • Board Resolution (Format will be provided)

Adding a Director

Add your new director within a week

Adding a Director

Corporations are legal entities that act like individuals and are governed by a board of directors. The directors in a corporation are responsible for making sure the company acts on behalf of the shareholders. Director is most important person of the company who directs and manages the entire companies operation

Procedure to add a director:-

Step 1- Hiring a new talent on board
Step 2- Eligible of the director
Step 3- Consent of the director
Step 4- Digital Signature of the director
Step 5- Director Identification Number (DIN)
Step 6-Extra Ordinary General Meeting
Step 7-Letter of Appointment
Step 8- Application to ROC

Document required:
  • PAN Card
  • ID Proof – Voters ID / Passport / Driving License / Aadhaar card (front & back)
  • Latest bank statement with transactions or telephone bill / mobile bill with name and address clearly mentioned
  • Passport size photograph
  • DSC token of the proposed director
  • Other information as set forth in the word document attached.

Removal of Director

Removal of Director

etailed information:-
All the directors are responsible to the shareholders. They can remove the director even before his tenure his completed unless they are appointed by the Tribunal for the prevention of oppression and mismanagement or a director appointed proportional representation.
Section 169 of the Indian Companies Act, 2013 states the procedure for the removal of the director. Section 169 of the Companies Act, 2013 states that the shareholders can remove the director by passing an ordinary resolution in a general meeting.
This right cannot be taken away by the MOA, AOA, or any document or any
agreement.
Conditions for the removal of a director from the company As per the provisions of the Companies Act 2013, Shareholders can remove a Director from the company even before his/her tenure expires, except in case of
appointment by the Central Government.
Mainly, there could be three possible cases for the removal of directors from the company.

In the case,
1. The director didn’t attend three consecutive board meetings;
2. Removal of director suo-moto by the board;
3. When the director himself/herself submits the resignation.

Procedure for removal :

There are three ways a director can be removed from the company, therefore, we will discuss all the three cases one by one. Let’s begin with the one described first-
1.  When the director didn’t attend three consecutive board meetings in the year As per section 167 of the Companies Act, 2013 if a director didn’t attend the Board Meeting for 12 months, starting from the day on which he/she was absent at the first meeting even after sending him/her due notice for all meeting, it will be considered that he/she has abandoned the office.
A Form DIR-12 should be filed on the director’s name.
Furthermore, for removal of director his/her name will be removed from the Ministry of Corporate Affairs
2.  Removal of director suo-moto by the board As per Section 169 of the Companies Act 2013, shareholders have the authority to remove the director by passing an ordinary resolution in a general meeting, except in
the case the Director was not appointed by the Central Government or the Tribunal. There are several steps in which the removal process can take place:

There should be a Board Meeting by offering seven days notice to all the directors. Furthermore, an exceptional notice will go to the directors informing them about the removal of the director.
Next, a resolution for holding an extraordinary general meeting will be passed along with the resolution for the removal of the director subject to the approval of the shareholders on the day when the board meeting will be held.
Again there would be a general meeting by providing 21 days clear notice to the directors. In the meeting, the members would be supposed to vote on the matter. If the majority votes in favour of the decision, then the resolution will be passed. But before the resolution is actually passed, the director will be provided with an opportunity for being heard.
After the resolution is passed, the same procedure needs to be followed, and the Form DIR-11 and DIR-12 must be filed along with the same attachments of the Board Resolution, Ordinary Resolution.
After the form has been filed, the name of the director will be scratched off from the Ministry of Corporate Affairs website.
3.  When the director himself/herself submits the resignation
If by any means or reasons, the director of the company doesn’t wish to continue with the company and want to resign, then he or she can resign following the below-
described steps:
The company shall commence a Board Meeting by providing seven days of clear notice which implies 7 days notice excluding the day on which the notice was sent and received.
In the meeting, the Board members will discuss with each and decide whether to accept the resignation or not.
If they accept the resignation, they will further pass a Board Resolution accepting the resignation in the following format:
RESOLVED THAT
the resignation of the director be and is hereby accepted with an immediate effect.
FURTHER RESOLVED THAT
the Board places on record its appreciation for the assistance and guidance provided by the director during his tenure as Director of the Company.
RESOLVED FURTHER THAT
directors of the company be and are hereby jointly authorized to do all the acts, deeds and things which are obligatory to the resignation of an aforesaid person from the directorship of the Company.

After the resolution has been passed, Form DIR-11 needs to be filed by the outgoing director along with the Board Resolution, Proof of delivery of the resignation letter and copy of the resignation letter.
The director is accountable for the filing of DIR-11, Form DIR-12 is the responsibility of the company which has to be filed with the Registrar of Companies (RoC) along with the Registration letter and the Board Resolution.
Once all the forms are filed, the name of the director will be removed from the master data of the company on the Ministry of Corporate Affairs website (MCAs).
Consequences of not filing DIR-12
If the company fails to file the e-form DIR-12 within 30 days of appointment or resignation, then the following penalty will be applicable:
One time of actual Government fees until 15 days;
Two times of the actual government fees if it exceeds more than 15 days;
If it exceeds 30 days to 60 days, then a penalty of 4 times of the actual government fees is applicable;
In case it exceeds 180 days, then 10 times of the actual government fees are applicable; Also applicable to the company which fails to file the DIR -12 within 300 days from the date of passing the resolution, then the company is supposed to pay 12 times of the actual government fees plus compounding offense.
Why do we need this service?
A company or a corporate secretarial service is answerable for the shareholder administration and correspondence, corporate administration and statutory compliance. Without a company secretary, executives of the company must interpretation of this obligation. The company secretary is liable for diminishing the weight of company regulatory and corporate administration which generally falls on the executives of the company. For any recently settled association, it turns into a weight to deal with these regulatory assignments alongside the everyday exercises. Consequently company secretarial services assume a urgent job in smooth activities of the business.

Resignation of Director

Resignation of Director

The Director intending to resign shall send notice in writing to the Company. The resignation of a director shall take effect from: The date on which the Notice Is Received by the company or. The Date, If Any, Specified by The Director in the notice, whichever is later

Procedure for resignation of director

Step 1- Notice of resignation by director
Step 2- Board will pass an resolution in a board meeting
Step 3- Company intimate ROC
Step 4- Director forward resignation letter to ROC
Step 5- If all the directors resigned, the promoter or CG may appoint required director

Why do we need this service?

A company or a corporate secretarial service is answerable for the shareholder administration and correspondence, corporate administration and statutory compliance. Without a company secretary, executives of the company must interpretation of this obligation. The company secretary is liable for diminishing the weight of company regulatory and corporate administration which generally falls on the executives of the company. For any recently settled association, it turns into a weight to deal with these regulatory assignments alongside the everyday exercises. Consequently company secretarial services assume a urgent job in smooth activities
of the business.

Share Certificate

Share Certificate

What Is A Share Certificate?

A Share Certificate is a legal document issued by a company to the owner of the company’s shares certifying that the person named in the certificate is the actual owner of the shares. As per the Indian Companies Act, it is compulsory for every company to issue a share certificate to its shareholders after the company registration process is completed.
A share certificate is to be issued by a company mandatorily within two months from the date of company incorporation. Not following this requirement can attract significant penalties for the company from the MCA.

Required Details for A Share Certificate:

A share certificate must contain the following information:
1. Name of the company issuing the share certificate.
2. CIN, i.e. Corporate Identification Number of the company.
3. Address of the company’s registered office.
4. Name of the owner of shares.
5. Folio number of member.
6. The number of shares represented by such share certificate.
7. The amount paid for the shares.
8. The distinct number of the shares.

Procedure Followed To Issue Share Certificate:

The following process is followed to issue a share certificate by the company.
Step 1- Board Meeting A board meeting is called for to pass the resolution for allotment of shares to the applicants. After the board meeting, the letters for allotment of shares are sent to the members and these letters act as the temporary share certificates until the actual share certificates are issued by the company.
Step 2- Register Of Members The Register of members is prepared from the lists of application received and allotment sheets. This Register provides the details of the shareholders and shares allotted to them. A company secretary prepares this Register for the company.
Step 3- Drafting Of Share Certificates The share certificate is prepared in the prescribed format and signed by two directors of the company as well as the Company Secretary. The share certificate is also attested with the company’s seal and revenue stamp. Once the certificates are drafted
and prepared, another board meeting is called for to pass the final resolution for issuing share certificates to the shareholders.
The shareholders can then surrender their allotment letters and get their share certificates from the company either personally or through a registered post.
Step 4- Penalty For Not Issuing Share Certificate If a company fails to comply with the requirements to issue a share certificate to its
shareholders, the company can face a penalty of not less than INR 25,000, which could extend to INR 5,00,000. Along with this, every defaulting officer of the company would be punishable with a fine of not less than INR 10,000, which could extend to INR 1,00,000.

Why do we need this service?
A company or a corporate secretarial service is answerable for the shareholder administration and correspondence, corporate administration and statutory compliance. Without a company secretary, executives of the company must interpretation of this obligation. The company secretary is liable for diminishing the weight of company regulatory and corporate administration which generally falls on the executives of the company. For any recently settled association, it turns into a weight to deal with these regulatory assignments alongside the everyday exercises. Consequently company secretarial services assume a urgent job in smooth activities
of the business.

Increase in Authorised capital

Are you looking for Increase in Authorised capital?

Increase in Authorised Capital

Detailed Information:
A company may need to expand its approved share capital before giving new equity shares and increasing paid-up capital. Approved share capital is the all out estimation of shares a company can issue, while paid-up capital is the all out estimation of shares the company has given. Paid-up capital can never surpass approved capital. Consequently, if a company having an approved capital of Rs.10 lakhs and paid-up capital of Rs.10 lakhs might want to enlist new shareholders, it can do so either by:
Increasing authorised share capital and issuing new shares. (or on the other hand) Transferring shares from existing shareholders to the new shareholders.
Procedure to Increase Authorised Share Capital:
Step 1- Verifying approval within the Articles of Association
Step 2- Board meeting to notify the incidence of EGM- Issue notices in writing at least 21 days before the date of the meeting for the General Meeting with Explanatory Statement as required under Section 102 of the Companies Act 2013.
Step 3- Extraordinary General Meeting- Hold the general meeting and pass the necessary resolution with required majority. List of Resolution for which MGT-14 requires to be filed, File the Form MGT-14 within 30 days for the Special Resolution passed at the General Meeting, File the Form SH-7 with the annexures (Copy of the resolution for alteration of capital, Altered memorandum of association, Notice of EGM Explanatory Statement etc) and make the payment for the stamp duties online.
Step 4- ROC Form documenting- With the approval received from RoC for the Form SH-7 filed with MCA, the changed status of authorised capital of the Company can be checked at MCA site.
1. AOA Alteration
2. MGT-14 Form filing
3. Notice for board meetings

Why do we need this service?
A company or a corporate secretarial service is answerable for the shareholder administration and correspondence, corporate administration and statutory compliance. Without a company secretary, executives of the company must
interpretation of this obligation. The company secretary is liable for diminishing the weight of company regulatory and corporate administration which generally falls on the executives of the company. For any recently settled association, it turns into a weight to deal with these regulatory assignments alongside the everyday exercises. Consequently company secretarial services assume a urgent job in smooth activities of the business.

Roc Annual filings

Roc Annual filings

Detailed Information:

Every company is required to file the annual accounts and annual return as per The Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. The ROC filing of annual accounts is governed under Section 129(3), 137, of The Companies Act, 2013 read with Rule 12 of the Company (Accounts) Rules, 2014 and annual return is governed under Section 92 of the Companies Act,2013 read with Rule 11 of the Companies (Management and Administration) Rules, 2014.

Procedure for ROC Annual Filings:-

Step-1 Hold a Board Meeting to Authorize the auditor for the preparation of
financial statements as per Schedule III of the Companies Act, 2013. Authorize the Director or Company Secretary for preparation of Board Report and Annual Return as per the Companies Act, 2013.
Step-2 Hold another Board Meeting for approving the draft financial statements, Board Report and Annual Return by the directors of the company.
Step-3 Conduct the Annual General meeting of the Company and pass the necessary resolutions. Please note that the financial statements are considered final only when the same is approved by the shareholders at the General Meeting.

Documents required:

1. Balance-Sheet: Form AOC-4 to be filed by all companies while ROC filing
2. Profit & Loss Account: Form AOC-4 to be filed while ROC filing by all companies
3. Annual Return: MGT 7 to be filed by companies
4. Cost Audit Report:  Form CRA 4 to be filed by the company
IMPORTANT POINTS:
1. Annual return filing (MGT 7 & AOC 4) for company
2. Annual return filing (Form 11 & Form 8) for LLP
Why do we need this service?
A company or a corporate secretarial service is answerable for the shareholder administration and correspondence, corporate administration and statutory compliance. Without a company secretary, executives of the company must interpretation of this obligation. The company secretary is liable for diminishing the weight of company regulatory and corporate administration which generally falls on the executives of the company. For any recently settled association, it turns into a weight to deal with these regulatory assignments alongside the everyday exercises.

Consequently company secretarial services assume a urgent job in smooth activities of the business.

Share Transfer

Share Transfer

etailed Information:

Transfer of shares means the voluntary handing over of the rights and possibly, the duties of a member (as represented in a share of the company) from a shareholder who wishes to not be a member in the company any more to a person who wishes of becoming a member. Thus, shares in a company are transferable like any other movable property in the absence of any expressed restrictions under the articles of the company.
Restriction on transfer
Transferability of shares in a privately held company is governed by the Articles which is a document that lays down the rules and regulations regarding share capital transfer, transmission, board of directors, general meetings and winding up, among others.
Section 2(68) of the Companies Act 2013 provides that the Articles of a private company shall restrict the right to transfer the company’s shares.
Procedure:-
1. Step 1: Review the AOA: Articles of Association of the Private Limited
Company must be reviewed and restrictions, if any must be addressed.
2. Step 2: Shareholder must give notice in writing to the Director of the
Company about intention to transfer share of the company.
3. Step 3: Determine the price as per Articles of Association at which the shares of the Company will first be offered to present shareholders of the Company.
(Usually this price is determined by the Directors of the Company or an
Auditor of the Company.)
4. Step 4: The company must then give notice to the other shareholders about. the availability of share, the last date to purchase the shares and the price at which the share are available.
How to Transfer Shares of a Private Limited Company
To effect the share transfer, the following steps must be followed:
Step 1: Obtain share transfer deed in the prescribed format.
Step 2: Execute the share transfer deed duly signed by the Transferor and
Transfere.
Step 3: Stamp the share transfer deed as per the Indian Stamp Act and Stamp Duty Notification in force in the State.
Step 4: Have a witness sign the share transfer deed with his/her signature,
name and address.
Step 5: Attach the share certificate or allotment letter with the transfer deed and deliver the same to the Company.
Step 6: The company must process the documents and if approved, issue new share certificate in the name of the transferee.

IMPORTANT POINTS:
Transfer deed
Notice
Why do we need this service?
A company or a corporate secretarial service is answerable for the shareholder
administration and correspondence, corporate administration and statutory
compliance. Without a company secretary, executives of the company must
interpretation of this obligation. The company secretary is liable for diminishing the weight of company regulatory and corporate administration which generally falls on the executives of the company. For any recently settled association, it turns into a weight to deal with these regulatory assignments alongside the everyday exercises.
Consequently company secretarial services assume a urgent job in smooth activities of the business.