What Are The Advantages Of Limited Liability Partnership In India?

Limited Liability Partnership is a form of legal entity in which all the partners or some partners have limited liabilities. It is run by partnership and cooperation between the partners. Each partner in the LLP has a liability and no other partner will be responsible for his liability or his misconduct and negligence of work.

What Are The Benefits of a Limited Liability Partnership?

• The internal structure of a LLP is less complex and easy to organize in comparison to a company.
• You can have any number of partners and there is no legal maximum number of partners required for a LLP however obviously the minimum required number is 2.
• The fund raising and utilization is completely dependent on the partner’s will and say. However they have to follow the rules of Companies Act 2013.
• You can save your amount of Dividend Distribution Tax, as you do not have to pay it for LLP while in case of company it’s compulsory.
• It’s very useful for professional like the Doctors, Advocates, Chartered Accountant and Engineers to register themselves as LLP.
• There is no such minimum amount of capital that is required to start a LLP unlike a company which requires certain fixed minimum funds to be invested.
• There are no compulsory audits required unlike companies where regular audits are mandatory.

What Are The Disadvantages of a Limited Liability Partnership?

• The LLP cannot raise money or funds from the public.
• The act of one partner without the consent of other partner may bind the LLP.
  

How Can We Apply to Register For a Limited Liability Partnership?

In the first step is to get the digital signatures of all the partners. And all the partners need to apply for the DIN i.e. Director Identification Number which is mandatory to become a partner in the Limited Liability Partnership. You must then apply for the approval of the name of the LLP. And then get the Certificate of Incorporation from Indian Registrar of Companies as it is a proof of registration. After this you must then apply for the PAN (Permanent Account Number) of LLP. And file all the related documents of the LLP and also apply for current bank account which is a mandate.

So what are you waiting for? If you have any doubts or further queries then don’t hesitate to get in touch with us, we are the leading firm who offers reliable online legal processes. All you need to do is to dial our mentioned phone number on the website of Swarit Advisors and we can help you to get your Limited Liability Partnership Registration done without any errors or problems.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/14/what-are-the-advantages-of-limited-liability-partnership-in-india/

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Composition Scheme under GST

With the Goods and Services Tax system, that was introduced in India in 2017, all other forms of  indirect taxes that include central excise duty, service tax, additional custom duty tax, surcharge, state-level VAT   and Octroi – all of them got abolished at one go. GST is applicable on all types of transactions involving goods and services including sale, transfer, purchase, barter, lease and import. One of the main advantages of GST is that the GST registration procedure has been simplified and can be done online from the official GST portal.

All small business units or taxable persons whose annual turnover is less than 1 crore can opt for the GST composition scheme for GST Registration in India.  For the North-eastern states and Himachal Pradesh the limit is Rs. 75 lakh. The main benefit of the Composition Scheme is that the business unit needs to follow lesser compliances like returns, invoices etc; have limited tax liability and high liquidity with lower tax rates. In this case, the taxpayer cannot raise a tax invoice which means that he cannot charge tax from his customers – he has to pay the tax himself and thereby raise a Bill of Supply.

On the other hand, for businesses that are not registered under the Composition scheme can carry out inter-state trade nor can they take input tax credit. These composition taxpayers are not eligible for supplying GST exempted goods or any other goods through e-commerce platforms.  Taxable persons that cannot avail the Composition scheme are –ones who supply exempted goods, supplier of services, manufacturers of ice cream, pan masalas and tobacco, non-resident taxable persons and business that sell via e-commerce.

How to apply for the Composition Scheme?

All taxpayers who are eligible for the Composition Scheme can do so from the GST portal for GST Registration. The taxpayer needs to inform the Government at the beginning of each financial year that he wants to opt for the Scheme via and apply the GSTCMP-02 application.
The words ‘composition taxable person’ needs to be mentioned on all Bills of Supply as well as on all notices and signboards and need to be displayed at a visible location at the place of business.

Application process for the Composition Scheme

The CMP – 02 is a form that needs to be filled up by a taxable person who wants to opt for the Scheme during the middle of the financial year. The rules of the scheme in this case apply from a month prior to filling up of the form.
TheCMP-02 needs to be filled up at the GST Registration online site.

1. Log in to the GST official website
2. Select Services and then select Registration. Under this click for Application to Opt for Composition Levy.
3. Tick on the Composition Declaration and Verification after reading it thoroughly.
4. Select the Name of Authorized Signatory and enter the place. Click on Save button.
5. Submit the application with the Digital Signature Certificate.
6. A pop up with a warning will show up. Click proceed.
7. The application is now submitted and an acknowledgement will be emailed and smsed to the registered email id and phone number.

The composition taxpayer needs to file GST CMP-03 within 3 months. The form details out the stock held by the taxpayer at the time of opting for the scheme.

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What Do You Understand By MSME And How Is It Beneficial?

The abbreviation MSME stands for Micro, Small & Medium Enterprises which are run and governed under the MSMED Act, 2006 which implies Micro, Small & Medium Enterprise Development. These enterprises are easier to run than large company structure to be followed. The MSMEs are generally of two types which are listed below:

• Manufacturing Enterprises: 

They generally produce or manufacture goods that are specified in the first schedule to the industry or they add value to the process of value addition of the product that is finally made. They can further be classified on the basis of money invested into the plant and cost of machinery involved.

• Micro Enterprise: The cost of investment is less than INR 25 Lakhs.
• Small Enterprise: The cost of investment is between INR 25 Lakhs to 5 Crores.
• Medium Enterprise: The cost of investment is high that is between INR 5 Cr to 10 Crores.

• Service Enterprises:
This type of enterprise is involved in giving services to the customers and there are no such final products but the ultimate services provided. They are further classified on the basis of Investment of equipment, and they are as below:

• Micro Enterprise: The cost of investment is less than INR 10 Lakhs.
• Small Enterprise: The cost of investment is between INR 10 Lakhs to 2 Crores.
• Medium Enterprise: The cost of investment is high that is between INR 2 Cr to 5 Crores.

Avail The Benefits of MSMEs Registration In India

Once you are registered for MSME, there are various benefits that you can avail from the government and some of them are listed below:

• If you are registered MSME, it is going to help you to get easier loans from the banks. Not only are this, the rate of interest on the loans lesser for the MSMEs. You are relaxed from the excise duty taxes under the Direct Tax Laws and statutory support and apart from this you also get relaxation on Delayed Payments Act.
• The state government and Union Territories also provide certain facilities like tax subsidy, power tariff subsidy apart from the central government benefits provided to MSMEs.

Documents Required for MSME Registration:

• The person applying for the online MSME Registration must have PAN Card and Aadhar Card.
• If the corporate entity is a partnership firm or a company they the partner or director should have Aadhar Number
• The applicant should have a mobile number and E-mail ID which will be registered and used for further communication.
• The number of People employed in this firm for which registration is being filed.
• Rent Agreement of the business place.
• The Declaration Form from the director for the amount of Investment in the business.

Get Experts Help To Follow MSME Registration Process Online

• This process can be done completely online however you need to the fill up your application and get the required approval from the various departments if required.
• The process simply asks you to file one registration application to the respective government according to the laws and regulations.
• Apart from the application the applicant needs to provide personal details like Aadhaar number, the name of the applicant, category, gender, the name of the enterprise, mobile no, email id, PAN number, date of commencement of business, rent agreement of business place, Bank details, main business activity etc.
• The usual time taken to get the MSME Registration certificate is 3 to 4 working days from the day of completion of all documents.

So, here in our blog, we have shared the basic advantages and the MSME/SSI Registration procedure but in case, if you need the help of professionals then we welcome you at Swarit Advisors. Swarit Advisors is the leading top-notch firm known for offering reliable legal registration services to its customers in India. We have skilled experts who know how to prepare your documents to get registered for MSME enterprise. Don’t hesitate, feel free to contact us anytime 24/7 hr on our phone number or drop us an email.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/11/what-do-you-understand-by-msme-and-how-is-it-beneficial/

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How To Trademark Your Brand Name And Logo With The Help Of Experts?

Would you like to trademark your brand’s name and logo but need the help of professionals who can assist you all the way? If yes then you are at right platform reading the blog where we have tried our best to deliver the correct and precise information at your end. Trademark Registration ensures your brand and business against legal difficulties that you may face. This incorporates unlawful utilization of your trademarked material or your brand’s name and logo. In this article, we will demonstrate you generally accepted methods to trademark your brand name and logo to protect your business.

Why Would You Need To Trademark Your Brand Name and Logo? 

If you are working broadly over states and plan to develop your business further, then at that point it turns out to be extremely vital to enroll your brand name or business name being trademarked. Trademark Registration in Mumbai enables you to prevent others from utilizing the same or comparative business name without your consent once you register. You can get selective appropriate rights to utilize your trademark for your business. It also makes you in-charge of implementing the trademark. This implies that if in case, you discover somebody encroaching your rights, at that point you can send them a cease letter and make any legitimate move if required.

Now Let’s Know More About What Is A Trademark? 

Trademarks can be referred to as word marks, business names, images, audios, or anything that recognize your products and services from others that have been fabricated or sold by the third party and to indicate the source of the merchandise.

In simple words, this can be your business logo, name, brand mascot, or your product name. Make sure that you can’t enroll your own particular name as an individual brand except if it is genuinely exceptional and generally perceived, for example, Johnson and Johnsons, and so on. Registered Trademarks can’t be utilized, as it enables you to secure your image and brand name against impostors utilizing comparable names to deceive your potential customers worldwide.
If in case, you have effectively enlisted your business in your state, then at that point this doesn’t consequently secure your business name as a trademark. Truth be told, somebody can enlist the same or comparable name as a trademark and possibly prevent you from utilizing it.

Understand the Procedure To Apply For a Trademark Registration

To start with, you have to comprehend what you can submit as a trademark in your application. Have a look at the below mentioned points that should be kept in mind before applying for Trademark Registration:-

• You can’t present a name that another person is now utilizing as their trademark,
• Your name must not be too much comparative or similar to the current trademark,
• It should be unique and not very generic,

Next, you have to go through an exhaustive hunt of the current trademarks who are already utilizing the name that you want. So, you must track through Trademark official website.

You must check the trademark database as this step is extremely vital and it can save your cash if in case, another person has effectively enlisted or already applied for the similar name for the trademark. If you find that the trademark isn’t registered, then at that point you can simply go ahead and apply for the trademark by going through the online procedure. You can either take the help of professionals or call us at Swarit Advisors, so that we can assist you in preparing the documents and guide you step-by-step for Trademark Registration.

Enforce Your Trademark

Once you are done with the Trademark registration process you will now be responsible to protect your brand name or logo against any infringement. Because after registering your business name, nobody else could utilize the similar trademark for their business. You can also include the trademark protection in your website of the company in order to let peoples know. If in case, anyone tries to steal your brand name or logo then you can send them a cease letter to avoid any further legal process. We hope this article would have helped you in learning the basics of the trademark. For more details, you may contact us anytime through a phone call or drop us an email.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/09/how-to-trademark-your-brand-name-and-logo-with-the-help-of-experts/

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How To Apply For Company Registration With The Experts Guidance?

Are you willing to enroll for a startup or a new business in India then you must follow some official procedures to register them? You can apply for company registration in India, as MCA (service of Corporate Affairs) has made the registration procedure online a couple of years back, it would be ideal if you find underneath the best way to approach these procedures when you need to register your company.

You need not to visit the nearby corporate office, you can simply apply for online Company Registration with the help of professionals who can guide you with step-by-step procedure. We will assist you in getting a legitimate permit for your business. The Company Registration procedure incorporates some necessary steps and few legal rules and regulations that are to be followed. Such as Digital Signature Certificate (DSC), Director Identity Number (DIN) and petitioning for an e-form are to be done initially.

Private Limited Company Registration, is the best corporate structure to begin your organization. It can be enrolled with at least two individuals and its most extreme limit is with two hundred individuals. Since the private limited company is juristic, and the obligation of individuals is constrained to their shares. The Registration for the private limited company can be enlisted within 7-10 days. A private organization must hold board meetings and must file their annual returns with MCA (Ministry of Corporate undertakings). The Private limited company has more validity than an LLP or general partnership firm. Financial speculator and investor like to put their resources and investment into a private limited organization. Consistently about 100,000 organizations are enlisted in India every year.

What Is Required for Company Registration?

• PAN and TAN,
• DSC and Director Identification Number (DIN),
• Corporate Identification Number (CIN),
• Organization Name Reservation – RUN one Attempt,
• Articles of Association (AOA) and Memorandum of Association (MOA),

It’s important to get register your company to maintain your business without any issues. India is a place that is known for fresh chances to succeed, regardless of, in which field your business is working the odds of getting an achievement is high, so it simply needs a beginning. Starting a business enterprise in India would bring you an awesome achievement. Decrepit this post earnestly till you fuse your last claim for your startup organization. We can assure you that you will wind up in registering your company by following our methodology.

Know The Essentials First: What is meant by Company?

In India, every month around 7 lakhs companies are enlisted and consistently a huge number of firms apply for their registration. As we know that company is a legal entity and as per the Section 3 of Companies Act 1956 it implies that once you are done with Company Registration in India then a legal entity has been formed. Under the ministry of corporate affairs, each organization is to be enrolled by the registrar of the company. There are two sorts of organizations known as private and public organizations. The term “limited” is usually utilized for corporate format the end of the name of the company. Initially, you must be aware of what these public and privately owned businesses are, and then choose how you need your organization to get registered for.

What Is The Basic Difference Between Public & Private Companies?

The main contrasts among Private and Public organizations are as follows:-

• The minimum number of shareholders that are required for a privately owned business is two and whereas for a public organization must be seven.
• A privately owned business can begin its business when it is consolidated but on the other hand, a public organization should not begin their business until it gets business commencement certificate.
• Privately owned business shouldn’t sell its shares to anybody or should not make any welcome to individuals in terms of company shares, whereas, on the other hand, a public organization can welcome individuals to get their shares by issuing a plan.
• Privately owned business may have two directors, but a public organization must have no less than three directors.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/09/how-to-apply-for-company-registration-with-the-experts-guidance/

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Annual Filing For A LLP, Get To Know With Us What To Do, How To Do, And Why To Do!

Limited Liability Partnership is a form of corporate entity wherein all the partners or some partners have limited liabilities. It is purely based and run upon the partnership and cooperation between the partners. Each partner in the LLP has a fixed defined legal liability and no other partner will be responsible for his liability or his misconduct and negligence of work. This form of partnership is different from a traditional partnership in which each of the partners has joint liabilities. Here in our blog, we will discuss the form that is required to apply for Annual Filing of LLP.

In a Limited Liability Partnership, all the partners have limited liability which is almost similar to the stakeholder’s incorporation however in an LLP, the partners have the right to manage the business directly which is not given to the stakeholder’s incorporation. This brings the need for the board of director incorporation. Also, the tax liability of an LLP is different from that of the corporation.

Why do we Require Annual Filing For Limited Liability Partnership?

All the Limited Liability Partnership in India is registered under the Limited Liability Partnership are required to apply for Annual Filing of LLP every year the statements of Account & solvency which is filed by submitting Form 8. Also, they need to file every year the Annual Return that is Form 11.
All the LLPs that are listed in India should file their Annual Return over a period of 60 days from the end of the close of financial year and Statement of Account & Solvency in a period of 30 days beginning from end of six months of close of financial year. For the LLPs it’s a mandate to maintain their financial year beginning from 1^st April and ending on 31^st March, which is not a mandate for any corporate entity that is registered as a company.

So the Annual Filling for LLP includes submission of annual reports and Statement of Accounts & Solvency. This requires the filing of Form 8 and Form 11 every year. 

Form 11:
This form is required by the LLPs to fill which has the details of the number of partners, total contribution received by partners, details of partners, details of body corporate as partners. All LLP in India are directed to file this form over a period of 60 days from the end of the financial year. The fees for this form has to be paid along with the filing to complete the procedure.

Form 8:
This form is to be filed with 30 days from the ending of the 6^th month of the financial year and the required amount of fees has to be duly submitted with the form itself. This form has to be verified and digitally signed by at least 2 partners and then it should be certified by a chartered accountant or cost accountant or company secretary. Form 8 has Statements of Accounts and Statements of Income & Expenditure.

So we provide the best possible solution for Annual Filing for LLPs and we extend our 24*7 support for our clients and ensure that the work is done on time and even if there is any difficulty we try to manage our deadlines for ensuring good client service. You may anytime get in touch with the specialists at Swarit Advisors to apply for annual filing of LLP. Dial our phone number or drop us an email so that we can shortly answer to your call or message. We are the leading top-notch online legal service provider firm, and we have a list of satisfied regular customers.

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Want To Change The Location Of The Company? Contact Swarit Advisors

We understand that due to some situations, the company might want to change some of the information like name and address of the company. All the information about the company are provided in the application of registration of the company and hence if you want to make any changes in them it has to be done in accordance with the terms and conditions under the Companies Act, 2013. So for Change in Company Address we need to follow the proper procedure for the same.

What Are The Things to Remember? 

All the companies’ needs to have a registered office within 30 days from the day Certificate of Incorporation being issued and all the letters and information of the company are being sent to the same address. This law comes under the Section 12 of the Companies Act, 2013. If a company wants to change any information they need to furnish the details to the registrar for verification.

Follow the Procedure for the Registration of Change of Company’s Address

Below we are mentioning the basic steps by following which you can easily get your registration done, but in case you have any doubts or uncertainty then don’t forget to take the experts help for a hassle-free registration process.

• In order to Change in Registered office of company outside the local limits, the company will have to pass a special resolution for the same in a general meeting carried out with board of directors and shareholders of the company. If the resolution is passed the application for the change can be filed. The application needs to be signed by the Director.
• For the Change of Address of the Registered Office, the company has to file form INC-22 with ROC. For the verification of the address the company also needs to fulfil Rule 25 and Rule 27 of Companies Incorporation Rules, 2014 which are prescribed by the government.
• Rule 25: The verification of the address should be filed in Form INC -22 and the fees should be paid along with it for the same. They should also include a copy of notarised copy of lease or rent agreement on the name of the company or authorization letter from the owner or a registered document for the title of the premises. Also the proof of any utility bills that is in the name of the owner can also work in this situation.
• Rule 27: The notice for the change of registered office should be filed in the above manner only, that is attached with Form INC -22 and again the fees needs to be paid along with it. The similar set of documents needs to be provided for the new address to be changed.
• To Change in Registered office of company from one state to another, the company needs to alter MOA (Memorandum of Association) of the company.

We at Swarit Advisors help you to perform your legal changes and proceedings in a very simpler and efficient manner. We ensure that our clients are satisfied absolutely and we work on deadlines provided by the client and never had we let them down. We are available for your assistance 24*7, you just need to make a call on our phone number or drop us an email so that our representatives can shortly revert you back. We are a team of dedicated professionals who are young and enthusiastic and look forward for client satisfaction and are absolutely cost effective as you can solve all your legal procedures just at one place and with one agency. We are the One Solution for all your legal aspects.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/03/want-to-change-the-location-of-the-company-contact-swarit-advisors/

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