Compulsary Registration

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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

    "What is GST Registration? The GST Stands for Goods and Service Tax which is the biggest indirect tax reform which blends in all the other taxes into one single tax structure. Under GST Regime, the goods and services are now taxed under a single law being Goods and Service Tax Laws. The taxes are levied at a single rate. The collection is then bifurcated between both Central and State Government in name of CGST and SGST or IGST."

    Threshold Limit for Registration, The registration under GST is mandatory for the business entities based on the criteria of turnover or activities. The business dealing in goods and those providing service have to mandatorily apply for GST Registration if their aggregate turnover for a financial year exceeds Rs.40 Lakhs and Rs.20 Lakhs respectively. However, for business making supplies and providing services in the North Eastern States, the same is Rs. 20 lakhs and Rs. 10 lakhs respectively. Owing to its benefits, many dealers also obtain voluntary registration under GST.

    The GST registration in India is completely an online process. GST Registration affirms seamless flow of Input Tax Credit in addition to providing recognition as a registered supplier.

    Professional Tax Registration

    The nomenclature ‘Professional tax’ could be one of those terms which do not completely convey the real meaning of the term. Unlike the name suggests, it is just not the tax levied only on professionals. It is a tax on all kinds of professions, trades, and employment and levied based on the income of such profession, trade and employment. It is levied on employees, a person carrying on business including freelancers, professionals, etc., subject to income exceeding the monetary threshold if any.

    Professional tax is a kind of tax on income is levied by State Government that differs from State to states on rates of tax, Slab bracket for tax applicability and like that. State Government is also empowered to make laws with respect to professional tax though being a tax on income under Article 276 of the Constitution of India which deals for with tax on professions, trades, callings and employment.

    There are Two types of tax which is as follows:

    • Professional tax Registration certificate (PTRC)
    • Professional tax Enrollment certificate (PTRC)

    It may be noted that professional tax is a deductible amount for the purpose of Income-tax Act, 1961 and can be deducted from taxable income.

    Labor Law Registrations - Employee State Insurance Corporation (ESIC)

    Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family. Units or Establishments that have 10 or more employees, drawing the wages up to Rs. 21,000/- (15000/- Before 1st January, 2017) a month are required to be registered for ESIC under the ESI Act 1948 and amendments made thereunder. The benefits provided by the scheme are funded from the contributions raised from covered employees and their employers at the fixed percentage of wages. At present, covered employees contribute 1.75% of the wages to the ESIC and covered employers contribute 4.75% of the wages, payable to their employees.

    All Establishments and Factories employing more than 10 employees are required to mandatorily apply for ESI registration within 15 days of the ESI Act, 1948 becoming applicable to them.

    Provident Fund Registration (PF Registration)

    PF is one of the primary platforms of savings for working class in India. An Establishment or business is mandatorily required to obtain EIN No. if total employee strength is 20 or more. The total strength of employee Includes contractors or temporary employees like housekeeping staff, daily wage worker security or other temporary workers in the business. Even if a company has employee strength less than 20 then too company can apply EIN. Provident fund Registration certificate should obtain within 30 days from the date of completing 20 employees.

    EPF is divided into two parts which are provident fund and Employee Pension Scheme. The subscriber Contribution 12% of basic plus daily allowance goes to Provident Fund. In case of employer contribution, 8.33% goes to Employee Pension Scheme out of 12%, rest goes to the provident fund account.

    Considering the number of years of service and the average salary drawn by the person gets the pension. A retired person gets the lump sum EPS money along with PF. The members who complete the age 58 years and completed 10 years of service without any withdrawal gets the benefits of a pension.

    Member can withdraw from these accumulations to cater to financial exigencies in life – No need to refund unless misused.

    On resignation, the member can settle the account. The member receives his PF contribution, Employer Contribution, and Interest.

    Import And Export Code

    Before you start import/export , obtaining an IEC(Import Export Code) is a perquisite. This is a unique 10-digit number that will help you in establishing your identity in front of the Authorities. An IEC is necessary for import/export of goods. It is also, required if you are providing services outside India.
    Companywale Consultancy Services And will help you obtain your IEC without a hassle.

    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

    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

    Latest building Tax/Property Tax receipt (Photocopy)

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

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

    PAN Card of Entity & Directors/Partners

    Aadhar Card/ Voter identity card of Directors.

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

    Month wise employment position, salary etc...

    Copy of bank statement of last 12 months

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


    • What is GSTIN?

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

    • * 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.

    • 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.

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

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

    • 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.

    • Simply Just, Fill the enquiry forms.


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