LICENSING & REGISTRATIONS

PAN & TAN 

PAN stands for Permanent Account Number and TAN stands for Tax Deduction Account Number.

PAN is account number of the assesse in the Income Tax department and every assesse should have only one PAN.

TAN is the Tax-Deduction Account Number i.e. the account number allotted by Income Tax dept. to the assesse who has right to deduct tax at source on income(TDS) or collect at source (TCS).

FSSAI

Every Person engaged in food Business (whether it be a restaurant business, manufacturing business or trading business) require Licence under FOOD SAFETY AND STANDARDS ACT, 2006

FSSAI has been created for laying down science based standards for articles of food and regulate their manufacturing, storing, distribution, sale and import, to ensure availability of safe and wholesome food for human consumption.

SHOP AND ESTABLISHMENT REGISTRATION

Any citizen who wishes to open new shop or a commercial establishment, has to register itself under Shops and Commercial Establishment Act within 30 days of commencement of business. Registration under Shop and Establishment Act is State specific.

It applies to shops, commercial establishments, hotels, restaurants, eating houses, theatres and other places of public amusement or entertainments

ESI & PF REGISTRATION

Employees’ State Insurance Act, 1948 provides for ESI registration. Any establishment employing more than 10 people is required to get registration mandatorily.        

ESI scheme is a type of social security scheme for employees in the organised sector. Benefits under the scheme include medical benefit, sickness benefit, maternity benefits, Disablement Benefit, Dependants’ Benefit(DB), Funeral Expenses etc.

Provident fund is a fund which is composed of contributions made by the employee during the time he/she worked along with an equal contribution by his employer.

It’s purpose is to help employees save a fraction of their salary every month, to be used in an event that the employee is temporarily or no longer fit to work or at retirement

MSME

Micro Small and Medium Enterprises Development Act 2006 was enacted by the Government of India for facilitating the development of Small Industries and the provision of SSI registration was done away with.

All classes of enterprises, whether Proprietorship, Hindu undivided family, Association of persons, Cooperative society, Partnership firm, Company or Undertaking, by whatever name called can apply for the registration and get qualified for the benefits provided under the Act.

Micro Enterprises: Investment in plant and machinery does not exceed Rs. 25 lakh and for micro service enterprises where  invested in equipment  does not exceed Rs. 10 lakh.

Small Enterprises: Investment in plant and machinery exceed Rs. 25 lakh but upto 5 crore and for micro service enterprises where invested in exceed Rs. 10 lakh but upto 2 crore

Medium Enterprises: Investment in plant and machinery exceed Rs. 5 crore but upto 10 crore and for micro service enterprises where invested in exceed Rs. 2 crore but upto 5 crore

GST

Goods and Service Tax is one Indirect Tax for whole nation. It is one Single tax on supply of goods and Services right from manufacturer to consumer.

Right now registrations under GST has not been started yet, however only existing user can  migration to GST.

One of the Most Important Tax reform in India.

At the Central level Central Excise Duty, Additional Excise Duty, Service Tax, Additional Customs duty commonly known as Countervailing Duty, and Special Additional Duty of Customs are being subsumed into GST

At State Level Subsuming of State Value Added Tax/Sales Tax, Entertainment Tax (other than the tax levied by the local bodies),Central Sales Tax (levied by the Centre and collected by the States), Octroi and Entry tax, Purchase Tax, Luxury tax, and Taxes on lottery, betting and gambling  are being subsumed into GST