Goods and Services Tax (GST)
GST aims to target the current tax structure of India by replacing and eliminating the multiplicity of taxes and their cascading effect on goods and services. Implementation of GST in India has impacted every aspect of business and it would be worthwhile to restructure your organizations’ needs to not only being GST compliant but also be efficient when it comes to planning business transactions for availment of input tax credit and taxation of various goods and services.
Effective planning needs engagement of GST experts for better understanding of the GST law, compliance manual, and practical action points.
We, at Indigenesis, provide you complete GST advisory and compliance services, including GST registration, GST migration, book keeping as per GST law, GST compliance, GST audit, GST input reconciliation and the like.
- Partnership Firm
- Limited Liability Partnership (LLP)
If there are no objections or oppositions in the trademark registration application, then trademark manuscript and trademark registration certificate are prepared and sent to the applicant. Once the trademark registration certificate is issued, the trademark is considered to be a registered trademark of the owner, granting the trademark owner exclusive rights to use the mark. After getting the registration certificate “®” symbol can be placed next to the registered logo or trademark of the business.Trademark registration process
Time taken for registration
Trademark registration is a time consuming and lengthy process. It takes around 18-24 months to obtain registration in a single go, without any objections or oppositions.
Copyright under the Copyright Act, 1957
Need for a copyright
- The copyright law gives you a set of rights that prevent other people from copying your work and doing other things, which you may not like, with your work. You probably would get pretty upset if someone just copied any of your creations, without your permission. That's where copyright comes in.
- As the creator of your work, you should have the right to control what people can or cannot do with your work. This law reflects our appreciation for all the hard work that goes into creating the "original works of authorship" and respects the right of the creator of that work to control what people can or cannot do with it.
- Copyright is a form of intellectual property, applicable to certain forms of creative work.
- It is a legal right, created by the law of a country, which grants the creator of original work exclusive rights for its use and distribution.
- It is usually only for a limited time.
- The exclusive rights are not absolute but limited by limitations and exceptions to copyright law, including fair use.
- Copyrights are considered territorial rights, which mean that they do not extend beyond the territory of a specific jurisdiction.
Documents required for copyright registration
- Class and description of work
- Title of work
- Language of work
- Nature of applicant’s interest in the copyright
- If published, date of publication
Copyright Registration Process
- Application for registration is to be made, as prescribed in the first schedule to the rules.
- Separate applications should be made for registration of each work.
- Each application should be accompanied by the requisite fee prescribed in the second schedule to the rules.
- The applications should be signed by the applicant or the advocate in whose favor a Vakalatnama or Power of Attorney has been executed. The Power of Attorney, signed by the party and accepted by the advocate, should also be enclosed.
- After scrutiny, the registrar issues a Dairy No. and then there is a mandatory waiting time for a period of 30 days for any objections to be received.
- If there are no objections received within 30 days, the scrutinizer checks the application for any discrepancy and if there is no discrepancy, the registration is done and an extract is sent to the registrar for the entry in the Register of Copyright.
- If any objection is received, the examiner sends a letter to both the parties about the objections and gives them both a hearing.
- After the hearing, if the objections are resolved, the scrutiniser scrutinizes the application and approves or rejects it, as the case may be.
Time for processing copyright application
After the application is filed and a diary number is received, one has to wait for a mandatory period of 30 days, so that no objection is filed in the copyright office against the claim.
The different types of registration required in the state of Maharashtra are as follows:
GuMasta license, also known as Shops and Establishment Act License
What is GuMasta license?
GuMasta license, a.k.a. Shops and Establishment Act License, is required for doing any kind of business in Maharashtra. It is governed by the Municipal Corporation of Mumbai, under the Maharashtra Shops and Establishment Act. It is a certificate which provides the authority to do business at a particular place.
When is GuMasta license required?
As per the Maharashtra Shops and Establishments (Regulation of Employment and Conditions of Service) Act, 2017, GuMasta license must be obtained by an establishment having 10 or more employees.
How to make registration under GuMasta license?
Application for registration in Form-A has to be submitted to the area inspector within 30 days of exceeding the limit of number of employees.
Documents required for registration under GuMasta license
Validity of GuMasta license
GuMasta license is valid for a period of 12 months.
Advantages of applying for GuMasta license
Listed below are some of the benefits which small businesses can attain by registering for GuMasta license:
- Eligible for all benefits and tax subsidies from the Maharashtra State Government.
- It serves as a proof of legal entity which gives you the right to conduct business in the Maharashtra State.
- Any business would require a business bank account to collect money from customers. Most banks demand the GuMasta license as proof of identity to open a business bank account.
Professional tax registration
What is Professional tax?
It is a tax applicable on all kinds of professions and trades and is levied based on their incomes. It is deducted from the income of the employees every month.
Where is Professional tax registration required?
Professional tax registration is mandatorily required in few states, such as Karnataka, Bihar, West Bengal, Andhra Pradesh, Maharashtra, Assam, Kerala, Tamil Nadu, etc.
Who is responsible for deducting tax and depositing the same to the government?
Professional tax is to be deducted, by the employer, from the salary/ wages and deposited with the state government. In case of other class of Individuals, this tax is liable to be paid by the person himself.
How to make registration under professional tax?
Professional tax registration application must be submitted to the state’s tax department within 30 days of employing staff in a business.
Documents required for registration
On the successful registration under professional tax, now comes the Payment of Professional Tax and Filing of Professional Tax Return
Payment of Professional Tax
Professional Tax Slab is different in different states. Let us discuss about the slab rate in Maharashtra for the FY 2018-19.
Monthly Salary (In INR) Tax per month (In INR) Salary up to INR 7,500 (Males) Nil Salary up to INR 10,000 (Females) Nil Salary more than INR 7,500, and up to INR 10,000 (Males) Rs.175/- Salary INR 10,000 and above INR 200 for 11 months and INR 300 for the last month
Professional Tax is restricted to a maximum limit of Rs.2,500/- per annum and is allowed as a deduction under section 16 of the Income Tax Act, 1961.
Filingof Professional Tax Return
Professional Tax is paid in Challan No. MTR-6
Period Amount of Tax Liability Due Date for payment and Return Filing Annually Where the amount of tax liability is less than INR 50,000 Due date is 31st March of the Financial Year to which the return pertains to Monthly Where the amount of tax liability is INR 50,000 or more Due date is the last date of the month to which the return pertains to
Penalty on late application for registration and Late Payment of Tax and Filing of Return
- The prescribed authority may impose penalty of Rs.5/- per day of delay.
- Late payment of professional tax can be penalised with a penalty of 10% of tax due. In addition, Interest on late payment can be charged upto 1.25% per month of the tax.
- Late filing of professional tax return attracts a penalty of Rs. 1,000/- due before filing of the return