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Compulsary Registration

We at CA Sands & Company are committed to assisting you with the following mandatory registrations that enhance the value of your organization
  • Complete GST advisory
  • Compliances services including registrations
  • GST returns
  • Tax advisory & GST Audits

    • Send Your Enquiry

    There are Various registrations to be taken at various Stages of business depending upon nature of business, some are compulsory and some are Optional, This registrations helps you to make necessary compliances and helps to run the Indian tax structure

    Following Compulsory registration to be taken in business

  • GST Registration
  • Professional Tax Registration
  • ESIC Registration
  • PF Registration
  • Import Export Code
  • Shop Act Registration

    • GST Registration

    GST stands for Goods and Services Tax, representing the most significant indirect tax reform in India. It consolidates multiple taxes into a single tax structure. Under the GST regime, both goods and services are taxed under one unified law known as the Goods and Services Tax Laws. Taxes are levied at a single rate, which is then divided between the Central and State Governments as CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) or IGST (Integrated Goods and Services Tax).

    GST registration is mandatory for business entities based on their turnover and activities. Businesses engaged in the sale of goods must apply for GST registration if their aggregate turnover exceeds ₹40 lakhs, while service providers must do so if their turnover exceeds ₹20 lakhs in a financial year. For businesses operating in the North Eastern States, the thresholds are ₹20 lakhs for goods and ₹10 lakhs for services. Due to the advantages it offers, many dealers opt for voluntary registration under GST as well.

    The GST registration process in India is entirely online. Registering for GST not only facilitates a seamless flow of Input Tax Credit but also provides official recognition as a registered supplier.

    Who Should Register for GST?

    1

    Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)

    2

    Businesses with turnover above the threshold limit of Rs. 40 Lakhs*

    3

    Casual taxable person Non-Resident taxable person

    4

    Agents of a supplier & Input service distributor

    5

    Those paying tax under the reverse charge mechanism

    6

    Person who supplies via e-commerce aggregator

    7

    Every e-commerce aggregator

    8

    *CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification come into effect from 1st April 2019.

    9

    Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

    Professional Tax Registration

    The term "Professional Tax" may not fully encapsulate its true nature. Contrary to what the name suggests, this tax is not exclusive to professionals; rather, it applies to a wide range of professions, trades, and employment types. Professional tax is levied based on the income generated from these professions, trades, and employment. It affects employees, business owners, freelancers, and other professionals whose income exceeds a specified monetary threshold.

    Professional tax is an income tax imposed by State Governments, with rates and slab brackets varying from state to state. Each State Government is authorized to legislate regarding professional tax under Article 276 of the Constitution of India, which pertains to taxation on professions, trades, callings, and employment.

    There are two primary types of professional tax:

  • Professional Tax Registration Certificate (PTRC)
  • Professional Tax Enrollment Certificate (PTEC)

    • It is important to note that professional tax is deductible under the Income Tax Act of 1961 and can be subtracted from your taxable income.

    Who Should Register for Professional tax

    1

    Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)

    2

    Businesses Entity, like Private Limited, Public Limited, LLP

    3

    Every Employer who employees 1 or more employees

    Labor Law Registrations - Employee State Insurance Corporation (ESIC)

    The Employee State Insurance Corporation (ESIC) operates a self-financing social security and health insurance scheme that offers a range of benefits, including medical assistance, sickness benefits, maternity benefits, disablement benefits, and additional support such as funeral expenses and the provision of physical aids.

    Under the ESI Act of 1948, establishments or units with 10 or more employees, earning wages of up to ₹21,000 per month (previously ₹15,000 before January 1, 2017), are required to register for ESIC. The scheme's benefits are financed through contributions collected from both employees and employers, calculated as a fixed percentage of wages. Currently, covered employees contribute 1.75% of their wages to the ESIC, while employers contribute 4.75%.

    All establishments and factories employing more than 10 individuals must mandatorily apply for ESI registration within 15 days of the ESI Act becoming applicable to them.

    Features: Labor Law Registrations

    1

    Provides complete medical care to employees

    2

    Includes employee’s dependents also

    3

    Mandatory for units with >10 employees

    Provident Fund Registration (PF Registration)

    The Employee Provident Fund (EPF) serves as a crucial savings platform for the working class in India. Establishments or businesses are required to obtain an Employer Identification Number (EIN) if their total employee strength reaches 20 or more. This total includes all staff, such as contractors, temporary employees, housekeeping staff, daily wage workers, and other temporary workers. Even businesses with fewer than 20 employees can voluntarily apply for an EIN. It is essential to obtain the Provident Fund Registration Certificate within 30 days of reaching the 20-employee threshold.

    The EPF consists of two main components: the Provident Fund and the Employee Pension Scheme (EPS). Subscribers contribute 12% of their basic salary plus any daily allowances to the Provident Fund. From the employer's contribution, 8.33% goes to the Employee Pension Scheme, with the remainder directed to the Provident Fund account.

    Pension benefits are determined based on the number of years of service and the average salary earned by the individual. Upon retirement, members receive a lump sum amount from the EPS in addition to their Provident Fund balance. Members who reach the age of 58 and complete at least 10 years of service without making any withdrawals are eligible for pension benefits.

    Members have the option to withdraw from their accumulated funds to address financial emergencies, with no obligation to refund unless misused. Upon resignation, members can settle their accounts and receive their PF contributions, employer contributions, and any accrued interest.

    Features: PF Registration

    1

    Mandatory for units with >20 employees

    2

    Provides Insurance Benefits

    3

    Pension Benefits

    4

    Withdrawal Benefits

    Import And Export Code

    Before embarking on import or export activities, obtaining an Import Export Code (IEC) is essential. This unique 10-digit number serves as your identity with the relevant authorities and is mandatory for engaging in the import or export of goods. Additionally, an IEC is required for providing services outside of India.

    At CA Sands & Company, we are committed to assisting you in obtaining your IEC with ease and efficiency.

    Who Should make IEC Registration

  • Every exporter or importer of goods
  • Service provider serving clients abroad. Also, applicable if you are importing a service depending upon if you are covered under reverse charge mechanism or not.

    • Documents required For Above Registration

    License

    Registration Certificate or License issued under Shops and Establishment Acts or Factories Act.

    Address Proof

    Latest Rent receipt of the premises you are occupying indicating the capacity in which the premises are occupied, if applicable

    Tax Receipt

    Latest building Tax/Property Tax receipt (Photocopy)

    Partnership/Trust Deed

    Memorandum and Articles of Association/Partnership Deed/Trust Deed as applicable

    GST Registration Certificate

    Photocopy of certificate of Commencement of production and/or GST Registration Certificate

    Pan Card

    PAN Card of Entity & Directors/Partners

    ID Proof

    Aadhar Card/ Voter identity card of Directors.

    Evidence of Date

    Evidence in support of the date of commencement of production/business/first sale (e.g. Copy of First Invoice)

    Other Documents

    Month wise employment position, salary etc...

    Bank Statement

    Copy of bank statement of last 12 months

    Other Documents

    Cancelled cheque (Bearing pre-printed company / firm name & Current Account No)

    F. A. Q.

    A: All businesses that successfully register under GST are assigned a unique Goods and Services Tax Identification Number also known as GSTIN (GST Identification Number)

    A:
  • Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
  • Businesses with turnover above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand).
  • Casual taxable person / Non-Resident taxable person.
  • Agents of a supplier & Input service distributor.
  • Those paying tax under the reverse charge mechanism.
  • A person who supplies via e-commerce aggregator.
  • Every e-commerce aggregator.
  • The person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person.

    • A: Yes, in that case, GSTIN is required to be obtained for each state separately. We have special prices for multi-state registrations. You may specifically mention this to your compliance manager to avail benefits.

    A: "Yes, it is mandatory to obtain GSTIN in case of certain categories of persons. The major categories are given below:
  • Persons making any Inter-State taxable supply of Goods / Services
  • Persons who are required to pay tax under Reverse Charge Mechanism (RCM) or Persons who are required to deduct tax under GST (TDS)
  • Persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise
  • Input service distributor
  • Casual taxable persons or Non-resident taxable persons"

    • A: Upon successful submission of application, you will obtain GSTIN usually within 4-6 working days

    A: Once GST certificate is granted, the registration is valid until it is surrendered or canceled or suspended. Only GST certificate issued to a non-resident taxable person and a casual taxable person has a validity period.

    A: Once GST certificate is granted, the registration is valid until it is surrendered or canceled or suspended. Only GST certificate issued to a non-resident taxable person and a casual taxable person has a validity period.
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