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According to theGST file returns in electronic cityGSTR-3B returns are mandatory to be filed all the months of the year by every taxpayer till the 20th of each next month. Even though this is an almost easier and simpler form and there is much less range for mistakes. But an error in figuring out the purchases, sales, input, and output taxes is very usual. Many a time the individual misses some purchase or sale to take into the concern.

There is no theory of revision of return in GST. GSTR-3B and GSTR-1 cannot be revised if it is filed once. Any mistake made in GSTR-3B is to be identified in the GSTR-3B of the month in which such mistakes come to your awareness.

But such mistakes cannot be corrected after the due date of filing the return of September of next fiscal year. Please note that the word declared is the due date of filing GSTR-3B of September and not the actual date of filing. You can also not correct such mistakes if the annual return for that fiscal year is already filed by you.

For this financial year, you can correct any mistakes or take input tax credit till the due date of filing return for March next year.

GST filing Consultants in Electronic citywe have each and every possible error and their suitable solutions let us go through it.

Situation 1 – What do you have to do if you had forgotten to mention some of your purchases and sales?

As mentioned above, GSTR-3B cannot be revised. Simply there is no choice for revision.

So, henceforth, the only possible solution is to include such sales and purchases in GSTR-3B of that particular month in which it comes to your awareness. But it cannot be included after the time period expires as stated above.

Situation 2 – What to do if you had entered excess input GST or excess output GST.

If you had entered excess output or input GST then you can regulate it in the next month by presenting a smaller amount of output or input GST. An issue may arise when you are unqualified to regulate in the next few months because the amount is not adequate to regulate the excess amount. For example, you had declared IGST of Rs. 50,000 in every month, you are inadequate to modify in next month as the amount in next months is zero. In such a case you can submit the amount in “ITC Reversed – Any other reason”.

Situation 3 – What if you make the payment of IGST is made instead of SGST or CGST or vice-versa?

GST filing Services in Electronic city we have cash balances of CGST, SCGST, IGST cannot be modified by themselves. In other words, cash payment is made for the one type of GST that payment can be used only for liability of that particular type.

This problem appeared mainly in cases where an individual is purchasing goods from interstate and selling intrastate. In such cases sometimes an individual calculates their own tax liability and split it by two to compute the amount payable for SGST and CGST. The person never minds that IGST is first set off from CGST and then from SGST. Therefore, the amount of CGST payable may be small than the amount of SGST payable.

If a person has made such excess payment of any particular type of GST, then it is best to use that amount in the upcoming month. If you think that you are inadequate to use that amount in the near future, then you can make a refund.

Situation 4 – What to enter in table 3.2 if there is a sales return in a province and therefore sales are negative for that province?

In case for an example, you have inter-state sales of Rs. 5,000. As per this, sales to Delhi are Rs. 6,000 and a sales return of Rs. 1,000 from West Bengal. In table 3.1 you have to submit the numeral integers of sales as 5,000. In this table 3.2, you have to submit sales to Delhi as 6,000, but you cannot submit the harmful sales to West Bengal. Also, there is a authenticate that the IGST amount in table 3.2 cannot be more than IGST sales in table 3.1. Therefore, the only possible way is to submit sales of Rs. 6,000 in table 3.1 and 3.2 both and rearrange the negative amount (sales return) in next month in which there is a sale in West Bengal.

How to Apply for GST FILING REGISTRATION in Electronic City?

Do you want to get a GST FILING REGISTRATIONinKarnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected] or feel free to contact: 7975187793 or visit https://www.consultry.in/

According to the GST Registration in Electronic citythe Ministry of Finance has collected together the most GST since February of every year, with a total of Rs.1.05 lakh crore. This is a huge increase of 10% increase over the total collected received in the same month of the year. Anyway, a notable number of non-filers of GST remain, mainly in the MSME field. If these organizations do not file their returns by the period of the deadline, they will file penalties by the government. The GST Amnesty scheme was imposed by the government to issue companies with a one-time relief from the above.

What exactly is the GST Amnesty Scheme?

Non-filers of GST returns would be rejected from paying the penalties and fines that are implemented for delayed filing for a one-time period. As far as now, over 25 lakh organizations have backfired to file GST returns. The amnesty scheme would replace organizations and the GST council with any reducing pressure, financial anxiety on them.

According to the law, any individual who is applied for GST must file a return in any kind of format. The authorized person must file a return either monthly (for regular suppliers) or quarterly (for non-regular suppliers) supplier should choose a composition scheme. An ISD (Input Service Distributor) must file a GST return monthly return that defines the credit allocated each and every month. The person who is liable for collecting tax (TCS or Tax Collected at Source) and deducting tax (TDS or Tax Deducted at Source) is necessary to file each month's returns describing the amount deducted or collected and other mentioned amounts. Frequently, a foreign taxable person must file a return for the time period in which no businesses taken place.

Why do MSMEs want to continue the GST Amnesty Scheme?

In GST Registration Consultants in Electronic cityMSMEs companies wanted the GST Amnesty Scheme to be enlarged for several reasons.

After the lockdown and the pandemic started, more than 60 lakh businesses and organizations have requested the finance minister to extend or postpone the GSTR3B filing. At first, the amnesty program was only stretched until the end of January 2020.

On the other hand, small companies also wanted the GST amnesty program to be stretched even further.

MSMEs are worried that the government is making a record of late fees for GST filings from the ‘Original Due Date,’ which was given on March 31, 2020, according to details provided by the GST Registration website.

Updates in GST Amnesty Scheme

The GST system came into function back in 2017 and the Treasury department distinguished that, even by the year 2020, many businesses never minded them and remained illegal. The government required these businesses to authorize under the GST scheme and, in doing so, the Government has introduced a new scheme that is the Amnesty Scheme.

According to theGST Services in Electronic cityfor people who were regretful but did not file repayments before deadlines, late payments have been accumulated more. Through the Financial Exemption Scheme, this late payment was remarkably reduced. Therefore, people who were once unwilling to install GST can now register and return files without having to anxious about penalties and late fees.

This is the following description of the Exemption Scheme of GST amnesty:

From the date 25th of July 2020 to the 30th of September 2020, people were issued a one-off payment on the delayed payment of individuals who were registered but did not finish their tax returns between July 2017 to July 2020.

For taxpayers who have sustained NIL benefits i.e., late payments, no tax payments were completely reduced.

For other individuals, the amount spent in the past is kept back for Rs. 250 per law (i.e., Rs. 250 of CGST and Rs. 250 of SGST). Any late payments in overflow.

This withdrawal appeals to those individuals who submitted their forms before or on 30 September 2020. Anyone who fills in the file’s hereafter will have a usual amount of late payment.

How to Apply for GST REGISTRATION in Electronic City?

Do you want to get a GST REGISTRATION in Karnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected] or feel free to contact: 7975187793 or visit https://www.consultry.in/

Eligibility Start-ups can register to make use of 2 benefits under income Tax

U/s 80IAC: - According to the Start-up company registration in electronic cityExempted tax on 100% gain and profit from business for 3 successive financial year.

U/s 56(2) (viib) (Angel Tax): - Exempted tax on investment in shareholder capital if there is any excess share premium value on the top of the fair market value.

Who can Apply for Tax Benefit?

a Start-up company must be authorized or recognized by DPIIT (previously known as DIPP)

It should contain only a Limited Liability Partnership (LLP) or a Private Limited Company

The Start-up company should be in incorporation on or after 1st day of April 2016.

Your start-up entity should be recognised as Start-up by DPIIT department.

Is this adequate to avail the benefits of tax exemption?

No. it is not of you wanted to avail the benefits of tax exemption; you need to register separately through DPIIT.

What are high possibilities to get Tax Exemption certificate?

Based on the acquired information, making enquiries and documents by department, as it may help them tom decide whether you start-up company is suitable or not,

The DPIIT department will EITHER, approve your application and will consider of issuing certificate with tax exemption benefits

OR, Reject with the appropriate reason for the rejection.

How to Register for Tax Exemption Certificate U/s 80-IAC according to the Income Tax Act

According Start-up Business Consultants in Electronic citythe Amendment Rule they will observe the Notification that is dated 11th April '2018 issued by Ministry of Commerce and Industry (Department for Promotion of Industries and Internal Trade) -

A Start-up existed as a Limited Liability Partnership (LLP) or a Private Limited Company that is in incorporation after 1st April 2016 they are eligible for acquiring a certificate for the purpose of section 80-IAC of the Income Tax Act, they will make an application in Form-I along with documents specified inside to the Board and the Board may after going through such information or documents and making such enquires, they may decide as the company is suitable.

Either

i) Issue Tax Exemption Certificate.

or

ii) Reject the application by providing reasons.

When to apply?

In Start-up Registration services provider in electronic city After getting your authorization and recognition as a Start-up you may apply for Tax exemption under section 80 IAC of the Income Tax Act. After getting clearance or NOC for Tax exemption, the Start-up can avail the benefits of tax holiday for 3 successive financial years out of its first ten years since incorporation of Start-up firm.

How to Apply?

You will need to Login at Start-up India Portal, then go to your dashboard and select the 'Recognition and Tax Exemption'. Once you lick and you will enter on this page, there is an option to Apply

What are the several documents to attach online?

Memorandum of Association for Partnership Deed or Private Limited Company for LLP

Board Resolution (Optional)

Previous 3 years Audited Balance Sheet and Loss and Profit Records and statements. If 3 Years not available, then at least attach the latest year's copy.

Previous 3 Years Income Tax File Return. If 3 Years is not available, then at least attach the latest year's copy.

Department may also ask for further requirement of information and documents for their gratification to grant exemption.

How to Apply for Start-up COMPANY REGISTRATION in Electronic City?

Do you want to get a Start-up COMPANY REGISTRATIONinKarnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected] or feel free to contact: 7975187793 or visit https://www.consultry.in/

According to theCompany registration in electronic city every limited company should be having a register of members and make sure it is kept staying current at all times. In this article, we will be discussing how to take a look at the basic ideas of how the register of members works, what must be included, and how it is maintained.

What is a register of members?

According to section 113 of the Companies Act 2006, every limited company is required to keep a register of all its members also called shareholders, in a document and the record known as a register of members. This forms a person of a set of different company registers which everything should be conserved.

The register of members is probably the most important lawful register which companies limited by shares are necessary to maintain. It consists of information on past and present shareholders, and also providing a continuous record and details of proprietorship since the company’s incorporation.

A person is not legitimately considered to be a company shareholder unless and until their name is recorded into the register of members. Although a share certificate is an important document and the report for the record share proprietorship, it is actually the register of members which obeys as verification of a member’s shareholdings.

What information needs to be kept in the register of members?

As per theCompany Registration consultants in electronic city the following details must be preserved and consistently updated in a company’s register of members:

Addresses and names of all the members

the date on which every person was registered as a member

the date at which any person concludes to be a member

In the case of a company maintaining a share capital, there must be recorded in the register, with the addresses and names of the members, a statement of:

the shares supported by each member, differentiating each share –

by its number as far as so long as the share has a unique number, and

where the company has more than a single class of provided shares, by its class, and

the agreed or amount paid to be examined as paid on the shares of each member.

Other required details that must be recorded in this document include:

If the company has transformed any of its shares into stock, and given awareness of the conversion to Companies House, the class and amount of stock are supported by each member instead of the number of shares and the particulars relating to shares.

Company Registration Services in Electronic cityin the case of shared holders of stocks or shares in a company, the company’s register of members should mention the names of each and every joint holder. However, only the address of one of these joint holders needs to be documented.

If in case of a company that does not have a share capital but has more than a single class of members, with the addresses and names of the members, a detail of the class to which each member attached.

Details of any movement of shares.

Details of allocation of new shares.

Details of any shares detained in treasury.

How should the register of members be maintained?

The register of members takes the form of a written or digital document. Under section 1135 of the Companies Act 2006, lawful registers “may be kept in hard copy or digital form [capable of being reproduced in hard copy form]”.

Customarily, the register of members had to be accessible for inspection at the company’s registered office, or a single alternative inspection location (SAIL). But since June 2016, private companies have been authorized to choose to send information usually kept in their own certain lawful registers, to the registrar of companies, to be kept on the public register at Companies House.

How to Apply for COMPANY REGISTRATION in Electronic City?

Do you want to get a COMPANY REGISTRATION in Karnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected] or feel free to contact: 7975187793 or visit https://www.consultry.in/

In MSME Registration in Indiranagarfor advancing business and entrepreneurship, the government issues special benefits to small and medium businesses in the form of incentives and subsidies. And also, banks and financial institutions provide loans at accommodation rates to establish to generate these businesses. For make use of those, the small businesses and medium businesses need to register under the Micro, Small and Medium Enterprises (MSMEs) act.

If businesses are registered under the MSMEs act, it can make use of some of the major benefits like tax benefits, cheaper bank loans, priority during the tender process and having an applicable access to several incentives and schemes of the government.

MSME Enterprises

The previous MSME classification was positioning on the standard of investment in equipment, plant and machinery. So, this process is to enjoy the MSME availabilities, the MSMEs had to restrict their investment to a lesser limit, as mentioned below:

These lesser limits were eliminating the desire to enlarge as they were inadequate to scale their businesses in future. And also, there was a huge-pending demand for the alteration of MSME classification so that they can accelerate their expand for their operations while continuing to make use of the MSME benefits.

Thus, in MSME registration service provider in Indiranagaras per the Aatmanirbhar Bharat Abhiyan (ABA), the government adapt the MSME classification by imposing the composite criteria of both annual turnover and investment. Also, the difference between the services and manufacturing sectors under the MSME definition was omitted. This removal created equality between the sectors.

The following is the revised MSME classification, where the annual turnover and the investment, both are to be considered for deciding an MSME:

Registration Process

Aadhar number is mandatory for registering under the MSME act. Any enterprise that certifies under the definition of MSME can acquire Udaym Registration under the MSME Act. An application is to be filed digitally using Udyam Registration Portal for acquiring Udyam.

Udyam Registration is entirely digital registration process and once the form is filled and submitted on the Udyam Registration portal, the registration certificate will be provided after a few days. The Udyam Registration has lifetime validity unless and until it is cancelled.

Documents Required

According to consultant for MSME registration in Indiranagar the Udyam registration process is completely digital and does not needed the documents to be uploaded. However, prior to applying for Udyam Registration, the proprietor or owner of the enterprise is necessary to have the following documents:

Aadhar Card

In the case of a Proprietorship Firm, the Aadhar number of the proprietor is to be submitted in the Udyam Registration form.

In the case of a Partnership Firm, the Aadhar number of the managing partner or the nominee is to be submitted in the Udyam Registration form.

In the case of a Hindu Undivided Family (HUF), the Aadhar number of the Karta is to be submitted in the Udyam Registration form.

In the case of a Limited Liability Partnership or a Cooperative Society a Society or a Trust or a Company, the Aadhar number of the authorized or organization signatory is to be submitted in the Udyam Registration form.

PAN Card

The above documents is not necessary to be uploaded but the Aadhar and PAN number of the entrepreneur is required to be submitted in the registration form.

How to Apply for MSME REGISTRATION in Indiranagar?

Do you want to get an MSME REGISTRATIONinKarnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected] or feel free to contact: 7975187793 or visit https://www.consultry.in/

OPC Company registration in IndiranagarA one-person company is a firm that has only a single person as to its member. OPC or One Person Company is also a new concept of business entity in India, it comes with all the advantages and benefits of a private limited company and that needs only one individual person for its formation, and at the same time, OPC provides the protection and security of limited liability that Partnership or Proprietorship is lagging. As in any OPC company, Private Limited Company Registration in India is also done as per Companies Act 2013 and Companies (incorporation rule) Act 2014.

What are the requirements for OPC Company Registration Online Indiranagar?

 For Online OPC Registration in Indiranagar, one has to attain some necessary eligibility requirements.

•    A OPC in India can be formed with one Individual person who is an Indian resident and citizen in India.

•    A person is considered a resident of India if he or she spends a period of 186 days in India yearly.

•    Sole member of the company has to announce a nominee while enrolling the One Person Company.

•    Such an individual person is not applicable to be a nominee or member of more than one OPC at any point in time.

•    Nominee may become the company’s sole member if in case the original member becomes incapable or dies of entering into contractual relations.

•    Address Proof, Passport Size Photographs, Email Id, PAN Card, ID Proof, and contact No of directors and members are necessary requirements for OPC company formation in Indiranagar.

•    A single utility bill of approved office address and location of the company, and if in case the company is a rented premise, then NOC with rent agreement is also required.

Benefits Of Private Limited Company Registration in Indiranagar

• In the consultant of OPC registration service provider in Indiranagarif you are a sole business proprietor looking to increase the monetary fund from Financial Institutions, Banks, etc, for your business, forming a One-person company will be having a huge benefit.

•    The Member of the OPC company will enjoy limited liability security and protection. The liability of the member will be restricted to the investment made by him in case of any unexpected liabilities created.

•    The business will be authorized as a separate legal entity so, your company can have separate liabilities, PAN, and bank accounts in its name.                                                                                                                                                                                                                                                                    

Steps of One Person Company Registration

Obtaining a digital signature certificate

The primary step for establishing an OPC company is to acquire a digital signature first, which is required for many things in the future in the formation of a One Person company. The digital signature is approved by the concerned authority on applying for it and is valid for the time period of 2 years. To acquire a digital signature certificate, you will require a self-attested address proof, PAN, and passport-size photograph of the applicant.

Direct identification number

The next step of establishing a One Person Company is to acquire a direct identification number. It is a number issued by the ministry of corporate affairs for the sole applicant. The number helps in lifetime validity unless and until it is withdrawn. Each and every director of the company will have detail in DIN so, registering for one is necessary.

Reserving name

According to Opc Registration Consultants in Indiranagarprior to making an application to form a Person Company, the name of the suggested company can be preserved. You can preserve the suggested name by filling RUN Form after payment of the selected fee. You can make a catalog of a maximum of 2 names in the favored order. Professional will inspect a search for accessibility of name prior to making an application.

But, the authorization of the company’s name stands at the caution of the registrar. After authorization, the name will be kept reserved for the time period of 20 days hence, you should make an application for incorporation of the company within the specified time.

CERTIFICATE OF INCORPORATION

The concluding step is to acquire a certificate of incorporation by submitting the required application. You can apply digitally for One Person Company registration through the easiest format for incorporating company which is well known as SPICe forms.

You should also file AOA and AOA alongside the SPIC forms for applying for registration of the private limited company in India.

On the other hand, company formation and a name reservation can be done by a single form named SPICEe, which is a combined form for various services i.e., Company Name, DIN, PAN, TAN, and Company formation.

How to Apply for OPC REGISTRATION in Indiranagar?

Do you want to get an OPC REGISTRATIONinKarnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected] or feel free to contact: 7975187793 or visit https://www.consultry.in/

LLP Company Registration in Indiranagarthe LLP registration can be easily done digitally in an easier and in simpler way. You should follow the 5 steps mentioned below to register LLP online:

Step 1:

Obtain DSC:A digital signature certificate of the appropriate person of the initiated LLP should be acquired before registering for LLP registration. The major reason behind obtaining DSC is that all the documents that are required for the registration of the LLP are applied online. Therefore, an electronic signature is essential. A DSC can be acquired from a government-organized certifying agency.

Step 2

Apply for DIN:The immediate successive step is to register for the Director Signature Number of all the organized partners of the initiated LLP. The application for DIN can be filed with Form DIR-3 and the copies of the scanned PAN card or Aadhar card should be affixed with it.

Step 3:

Name Reservation:The next step is to preserve a name for the LLP which may be examined by the Central Registration Centre. It is suggested that you run an LLP registration name check, if the name you are choosing is free or not before you estimate a name on the LLP registration MCA portal. The system there will suggest other nearly resembling names based on the name you are searching for.

This will help in selecting the name which is not close to any trademarked name or existing name. And thus, your LLP name would be authorized in the first go. The Form RUN-LLP must be filled to reserve the name.

In LLP Registration Consultants in IndiranagarIf in case, the name is not selected, the re-submission form must be submitted within the period of 15 days. Also, there is a limit to propose 2 names in the RUN-LLP Form.

Step 4

Incorporation of LLP

The Form for incorporation of Limited Liability Partnership (FiLLiP) should be filed with the Registrar having authority in the state where the registered office of the LLP is situated.

You should pay the fees as mentioned in Annexure ‘A’.

With the incorporation form, a person can also register for the allotment of DPIN, if he or she is authorized as the designated partner in the LLP and does not have a DPIN or DIN.

Then the application for allotment of DPIN is allowed for two individuals only.

If the suggested name is authorized by the Central Registration Centre, then the authorized name should be filled as the name of the LLP.

Step 5

File LLP Agreement:This agreement explains that the mutual rights and duties between the partners of the LLP. Also, amongst the LLP and the partners.

In the consultant for limited Liability company in Indiranagar the LLP agreement must be filed in Form 3 online on the MCA portal. Especially, the Form can only be filled within the period of 30 days of the incorporation of the LLP.

At last, the LLP agreement must be printed on the Stamp paper.

How much does it cost to register an LLP in Indiranagar?

Step 1: For Obtaining DSC•        It costs around RS. 1,500-2,000 approx. for 2 partners

Step 2: For Applying for DIN       •        It charges around RS. 1,000 for 2 partners

Step 3: For the Name Reservation         •        It costs about RS. 200

Step 4: For the Incorporation of LLP, it may depend upon the capital contribution

•        Contribution of up to RS. 1,00,000 – costs up to RS. 500

•        Contribution of up to RS. 1,00,000 – 5,00,000– costs up to RS. 2000

Step 5: File LLP Agreement        This also depends upon the capital contribution

•        Contribution of up to RS. 1,00,000 – costs RS. 50 for stamp duty and filing form 3

How long does it take to Register LLP in Indiranagar?

LLP registration may take approximately a time period of 15 days from acquiring DSC to Filing an agreement, subject to the availability of the documents and records.

How to Apply for LLP REGISTRATION in Indiranagar?

Do you want to get an LLP REGISTRATIONinKarnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to [email protected] or feel free to contact: 7975187793 or visit https://www.consultry.in/