A legal entity always require consent from an authority in form of licences and get itself registered in order to establish and operate legally. The basic purpose of granting a licence is to modulate or govern the business activities as per law. Business licenses vary between countries, states, and local municipalities.
The licensing, permit or registration requirements for your business will depend on your business type and structure, its location, and whether you employ staff.
You must operate your business with the correct licences and permits. If you don’t, you could experience serious penalties.
Corporate Accretion provide various Licensing & Registrations:
We provide Pan Services to our customers. It is required in accordance with the most recent requirements of the Income Tax Act. PAN is a number that is used by the Income Tax Department to identify a person and to obtain comprehensive information about that individual.
If you are – paying your salary, a TAN number is required for tax deductions. Payments are made in the form of consulting fees, rent, and contractual payments. With tax deducted at source and paid to the Internal Revenue.
In India, FSSAI registration is required before beginning a food or related business. The FSAI guidelines are jointly implemented by the Food Safety and Standard Authority of India and the State Food Authorities. The Food Safety and Standards Authority of India (FSSAI) is in charge of registering and licensing food business operators, as well as establishing the rules and regulations for operating any food or related business in India. The FSSAI protects the law for food and related businesses by setting food standards to regulate food manufacture.
The Shop and Establishment Act is different in each state. The Act’s general requirements, however, are the same in every state. The Labour Departments of several states are in charge of enforcing the Shop and Establishment Act. All stores and business establishments in the state are governed by the Act. Under the Act, shops are defined as places where items are sold to clients, either retail or wholesale, or where services are provided to them. It encompasses offices, godowns, storerooms, and warehouses that are used in the course of a trade or business.
The Employee State Insurance Corporation, an autonomous organization within the Ministry of Labour and Employment of the Government of India manages and regulates employee state insurance (ESI). For Indian employees, the ESI plan was established, which gave monetary, medical, and other benefits from the employer to the employee.
The Provident Funds and Miscellaneous Provisions Act, 1952 governs the Employees Provident Fund, which is a system for Indian employees. Employee Provident Funds are governed by the Employees Provident Fund Organization commonly referred to as EPFO.
MSME is an important aspect of India’s historical economic model and a crucial component of the product and service supply chain. This sector is a job creator as well as a key player in rural and backward areas of industrialization and large-scale employment. Even if the company is in the manufacturing or service industries, the MSME legislation allows for registration in both of these categories. Although the government has not made this registration essential, it is advantageous to have one’s business registered under it because it provides numerous benefits in terms of taxation, business setup, credit facilities, and financing.
GST is the result of India’s largest tax reform, which has greatly enhanced the ease of conducting business and expanded the Indian taxpayer base by adding millions of small enterprises. The elimination and subsumption of several taxes into a single, basic system would decrease tax complications. All entities involved in the purchase, sale, or provision of services, or both, must register and get a GSTIN under the new GST regime. When an entity’s turnover reaches a certain level, or when an individual begins a new business that is likely to reach that level, registration is required.
