How do you start a new business in india?

How do you start a new business in India?

Are you confused in choosing suitable business structure? As per your business requirement, you can shoot below categorized formation model:

LLp REGISTRATION Limited Liability Partnership(LLP) is defined as partnership and registered under Limited Liability Partnership(llp) Act in the office of Registrar of Companies (ROC), India. LLP Registration is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partners. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. The LLP Firm is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.

Company Registration is the most common and suitable form of entity for carrying out business in India with a long term objective. Pvt Ltd Company Registration is Incorporated and Governed by the Indian Companies Act 2013. Company Formation is a Purely Separate Legal entity distinct from its members and directors. The business under this structure can be done by making investment through the equity shares in the Company. It has the advantage of limited liability, greater stability and recognition. The Basic Requirement for a in Company Incorporation is to have Minimum Two Directors and Two Shareholders.

·         These are closely held businesses usually by family, friends and relatives.

·         Private companies may issue stock and have shareholders Their shares need not be traded on public exchanges and are not required to be issued through an initial public offering.

·         Shareholders may not be able sell their shares without the agreement of the other agreement of the other.

ADVANTAGE

ADVANTAGES OF PRIVATE LIMITED COMPANY REGISTRATION

NGO :

SECTION 8 COMPANY REGISTRATION

( NGO Registration )

• The concept of non-profit making company is quite old in India. In erstwhile Companies Act, 1956 it was regulated by Section 25 and that is why it was popular as Section 25 Company. However in Companies Act 2013 provisions related to non-profit making company are given in Section 8 read with Rule 19 and 20 of Companies (Incorporation) Rules, 2014.
• Section 8 Company Registration is named Section 8 of the Companies Act, 2013, which pertains to a established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object', provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. 

·         There may be 3-4 forms of a Charitable Organization in India and such organization can be formed/registered as trusts, societies, or as a non-profit company (NGO Company)  incorporated  under Section 8 of the Companies Act, 2013. 

• The Name of Section 8 Company Registration can end without the addition to its name of the word “Limited”, or as the case may be, the words “Private Limited”. ((Section 8(1) )
• Section 8 company registration  also has higher credibility amongst donors, Government departments and other stakeholders.

·         A Section 8 Company Incorporation is similar to a Trust or Society or Ngo Registration; but a Section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Whereas Trusts and Societies are registered under State Government regulations.

• The Registration Procedure of Section 8 Company is that of Similar to Private /Public Company as the case may be except of additional requirement of taking License from CG after name approval.

Proprietorship Firm:

FSSAI is a government body started online application system name as Food Licensing Registration System(FLRS) to facilitate Food Business Operator(FBO) to apply for fssai registration / state license / central license certificate as per firm turnover and FBO can track application on FLRS system with reference number provided by FSSAI during filing application. After approval of registration/license, Department will send fssai registration certificate or license copy to FBO on email, provided by FBO to FLRS System. In whole process, FSSAI Department will take maximum 75 working days. FBO can file application through fssai registration consultant under system of FLRS for maximum 5 years .

Eligibility of Fssai License:

Fssai registration : Turnover Upto 12 Lacs (Valid All India) 

Fssai Licence State: Turnover 12 Lacs to 20 Crores (Valid All India)

Fssai Central License : Turnover more than 20 Crores (Valid All India)

Fssai Import License: Food Import.

A new trademark registration is a registration of text,color, logo under ipr department for secure future of business. A trademark registration of word or logo can be represented brand name in the form of your company’s logo or a signature. Through a registered brand name registration or logo registration, you can protect your brand (or “mark”) by restricting other people or corporate from using its name or logo. Once acquired, a person or corporate can hold as long as for 10 years. Because a registered trade mark is a form of Intellectual Property, you can license or assign it to others for use as brand.

ENROLLMENT FOR GST IN NUMBER (Goods and Services Tax Identification Number) :

GSTIN (Goods and Services Tax Identification Number) : GST Registration is mandatory for all business entities involved in the selling or providing of services in India. We are offering an easy online process to register for Good and Service Tax-GST in all over India.

New GST Registration  : Rs. 599  All Inclusive (in Case of Proprietorship Firm)

GST Registration online : Rs. 999  All Inclusive (in Case of Partnership Firm)

GST Registration  : Rs. 1499  All Inclusive (in Case of Pvt. Company Registration/ LLP Firm)