Online GST registration Services in India - Setup Services India

 Goods and Services Tax (GST) was introduced by the Government of India in 2017 to facilitate their mission of One nation, one tax, one market; The introduction of GST has led to the absorption of several Central and State taxes into one tax structure which offers complete and comprehensive set-off of input goods and services, as a result, reducing the cost of locally manufactured goods and services.

In GST Regime, businesses whose ANNUAL Turnover exceeds

INR 40 Lakhs, for the supply of goods, and
(Rs 20 lakhs for Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Tripura, Uttarakhand)
 
INR 20 lakhs, for the supply of services, are mandatorily required to be registered as a normal taxable person.

Who else is required to get GST registration done, even if Turnover based threshold limits have not been crossed?
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
Any 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

How can SSI help, if you want to register yourself under the GST mechanism?
SSI uses a comprehensive approach to first help its clients in understanding the GST mechanism by:

Discussing applicability of GST on their respective business
Elaborating prescribed limit(s) for the statutory exemption 
Identifying the rate of GST applicable to the products and services being sold
Listing out the intervals, mode, and manner for payment of GST and several other compliances that become applicable post-registration.

Read more About:- Online GST registration Services in India

PAN India LLP Registration Service - Setup Services India

Limited liability partnership (LLP) is a popular, reliable, and well-known business structure in India, as customers, suppliers, and several other commercial institutions, prefer to deal with an LLP instead of a proprietorship or a normal partnership firm due to the structured rules of compliance, laid out by the LLP Act, 2008 and the Ministry of Corporate Affairs that govern an LLP and promote reliability, transparency and safeguards the interest of stakeholders. LLP structure involves fewer statutory and regulatory compliances when compared to those prescribed for a Private Limited Company; and hence, has become a preferred form of organizational structure amongst entrepreneurs who want to enjoy the benefits of both a partnership firm and a company in an effective and an efficient manner.

SSI, suggests an LLP structure for small-scale businesses who aim to save time as well as the costs of regulatory compliances that are much higher for a Private Limited Company in India.

Read more About:- PAN India LLP Registration Service

Here you can see useful links:-

Online GST registration Services in India

Online Startup Registration Services

Virtual CFO Services India

MSME Registration Services India

LLP Incorporation | PE Setup Services India

Limited liability partnership (LLP) is a popular, reliable, and well-known business structure in India, as customers, suppliers, and several other commercial institutions, prefer to deal with an LLP instead of a proprietorship or a normal partnership firm due to the structured rules of compliance, laid out by the LLP Act, 2008 and the Ministry of Corporate Affairs that govern an LLP and promote reliability, transparency and safeguards the interest of stakeholders.

LLP structure involves fewer statutory and regulatory compliances when compared to those prescribed for a Private Limited Company; and hence, has become a preferred form of organizational structure amongst entrepreneurs who want to enjoy the benefits of both a partnership firm and a company in an effective and an efficient manner.
 

SSI, suggests an LLP structure for small-scale businesses who aim to save time as well as the costs of regulatory compliances that are much higher for a Private Limited Company in India.
 

Other salient features of an LLP:

• The liability of each partner is limited to their contribution made 
  In other words, if an LLP is unable to repay its loans & other liabilities then the charge against the partners is limited to their investments & profits made in business; Whereas, their personal assets remain safe from being attached for recovery of debts.

Read More About Click Here : Payroll Management Service Providers

Websites : https://www.setupservicesindia.com/

Challenges On The Path To Taking A Company Towards IPO

 

• When planning to take your company public, it is critical to map investor sentiments for the brand/ company and create the right pitch that is attractive and valuable for all proposed stakeholders

• The many laws that regulate the running of public corporations account for the significant variation in how public and private companies are handled.

• When the company decides to go for IPO, it must build the right team to go public; selection of competent lead managers and merchant bankers for its issue is a must.

Entrepreneurs who dream of taking their firms public might anticipate declaring their IPO by striking the stock exchange bell and celebrate an elaborate closing meal. 

However, these heady pre-IPO fantasies may swiftly run into several substantial real-world problems that public company executives encounter regularly. There are significant challenges that public firms regularly face that private company owners should carefully consider before deciding to go public.

Indeed, it is a crowning glory, but a lot of planned hard work has to be put in to win the crown. When planning to take your company public, it is critical to map investor sentiments for the brand/ company and create the right pitch that is attractive and valuable for all proposed stakeholders. Then comes conducting due diligence and drafting of a proper road map on handling all the incremental compliance requirements that come post the IPO. It should be recalled that there will be new responsibilities and restrictions that may come for the management post IPO, and these need a proper assessment before taking the dip.

Extensive Regulations

The many laws that regulate the running of public corporations account for the significant variation in how public and private companies are handled. The company will be required to follow extensive internal compliance procedures, file financial reports, accept financial performance audits by independent third parties and comply with operating rules that did not exist when the company was a private, closely owned enterprise.

More Info :  Virtual CFO Services India

SSI Enters Financial Aggregation Market

 

When businesses are facing harrowing times due to ill-managed resources or ideas, the need to have specialized personnel to help the ideation sail through has increased multifold.

At this juncture, Setup Services India (SSI) announced its entry into the Financial Aggregation market.

The company aims to develop a one-stop financial services solution for the next-gen entrepreneurs; SSI aims to facilitate business registration, compliance(s) management and advisory processes to be robust, transparent and cost-effective.

Headquartered in New Delhi, SSI has a profound professional network and in-house team of CA/CS to ensure the efficiency and effectiveness of the services being delivered. The company says that the goal is to become an extensive KPO in the B2B arena and provide various solutions to the new India.

“SSI will be following aggregation model to serve its clientele from all over India. We aim to facilitate the ease of doing business in India by promoting the culture of outsourcing technical activities like accounting and bookkeeping, which will in turn help entrepreneurs to increase their focus on core business activities rather than on compliances,” said Nishant Arora, Founder, Setup Services India (SSI).

Explaining the Financial Aggregation model and its lack of popularity in India, Arora said, “A financial data aggregation service connects banks and individuals’ banking information, bringing it all together in one place, such as a mobile banking app that automatically sets and tracks budgets. They compile information from clients’ bank accounts, such as spending habits, investments, and credit histories, from a variety of banks to develop a personal financial wealth management tool for them.”

The company has extensive plans to expand in India. “We plan to explore and launch Industrial, commercial real estate advisory in phase 2 implementation to provide an extensive one-stop solution to its foreign clients who are willing to set up their business in India. Also, such products may or may not come under the umbrella of SSI but will surely be coming under Sixth Element Finserv P Ltd., the holding company of SSI. Sixth Element Finserv Pvt. Ltd. will be expanding in investment advisory domain extensively and may initially come as an investment advisory company and then launch a full-fledged portfolio Management Service in its own brand,” said Arora.

More Info :  SSI Enters Financial Aggregation Market

What is slump sale?

A single entity could have separate segments or undertakings with its own set of assets and liabilities each focused on a different business. Therefore, when the need arises, the entity can sell off a segment or the undertaking. This is called a slump sale.

CONTENTS

Slump Sale under Income Tax

Tax Effect in a Slump Sale

Slump sale vs. Itemised sale

Case study

Other matters

Slump Sale under Income Tax

A slump sale for income tax purposes would be one where an undertaking is sold without considering the individual values of the assets or liabilities contained within the undertaking.

It may be important to note here that finding out individual values may be of relevance only for the purpose of determining stamp duty or any other similar taxes. 

(Applicable in case of Land & Building transferred along with the respective undertaking)

Tax Effect in a Slump Sale

The gain or loss resulting out of a slump sale shall be a Capital Gain/Loss under the Income Tax Act.

(In the hands of the seller)

The computation has been prescribed as follows:

The capital gain or loss as computed above will be either long-term or short-term depending upon the period for which the undertaking is held.

If the undertaking is held for more than 36 months, the resulting capital gain or loss shall be long-term and if it is held for less than 36 months, the resulting capital gain or loss shall be short-term.

Further, there will be no indexation benefit available in the computation of the capital gains.

Net worth: In computing the net worth of the entity, the following points need to be considered:

The value of net worth should not take into account any change in the value of the asset or liability resulting from the revaluation of such asset or liability.

In case of depreciable assets under the Income Tax Act, the Written Down Value of such assets as per the Act shall be considered.

In the case of assets on which 100% deduction has been allowed u/s 35AD (specified business), the value of such assets will not be considered.

In the case of any other asset, value as appearing in the books of accounts shall be considered.

After considering the above points, if the resulting net worth is negative, then the cost of acquisition shall be taken as nil for the purpose of computation of capital gains.

Tax rates: The rates of tax applicable to the capital gain in a slump sale are as follows:

Short Term Capital Gain: Normal Rates of taxation

Long Term Capital Gain: 20%

Reporting Formality: The Company has to furnish a report by a Chartered Accountant as per Form 3CEA.

Taxation under GST: The basis of taxation under the Goods and Services Tax Act revolves around ‘supply’. A slump sale would also be a supply and hence fall under the purview of GST. The supply would be in the nature of ‘transfer as a going concern’ and such a transfer attracts a nil rate of GST.

Transfer as a going concern would roughly mean that the current business as a whole will be carried on by a different person or that there is a change in the ownership of the business.

Get detail info: Online TDS Return Filing India

Also Visit: Online Startup Registration Services

Taking your company to IPO | Online Startup Registration Services

The Indian public markets are projected to be worth $2.7 trillion. There is a sizable retail investor base, and the public awareness of listed companies is on the rise. Companies seeking to obtain funds are increasingly opting for an initial public offering (IPO).

 

The road to IPO, on the other hand, must be meticulously planned. There has been an influx of enterprises, particularly Micro, Small, and Medium Enterprises (MSMEs) and startups, seeking public listing in recent years. In fact, the Indian government is announcing policies that will aid these businesses in their endeavors. 

 

IPO listings enable MSMEs and startups to gain access to finance, albeit they come with a lot of responsibilities. Former MSME Minister Nitin Gadkari stated in June 2020 that the government is considering establishing a specifically established "MSME Stock Exchange" on which such small enterprises will be listed. Businesses that list on the platform will receive a 15 percent equity injection from the government.

 

Unlike MSMEs, startups should only consider an IPO when they are completely prepared - ready for examination and with a new playbook that includes recruiting the correct board of directors and establishing communication lines with stakeholders.

 

Take a call

 

High governance and stable business (growth) performance or cycles are required in public markets. Going public for a business to consumer (B2C) brand would entail higher branding visibility, which could be used to boost income and (perhaps) increase consumer engagement. In comparison to a private raise, however, reaching public markets is difficult.

 

Going public would necessitate the rigour and discipline of quarterly meetings with major investors, large shareholders, and equity analysts. Depending on the days spent per quarter on this activity, this could entail time away from the primary business.

 

Companies considering an IPO should first decide whether to list on the NSE or the BSE.

Read More About Click Here : Online Startup Registration Services

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