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Do I need a separate PAN number for my business if I want to sell jewelry from home when registering for GST?

Submitted by LegalWizin on Wed, 09/23/2020 - 23:47

Certainly. PAN is basic requirement for any business, whether with GST or not.

If you are a proprietor, your own PAN Card will be considered as the business’ PAN Card. For any other business structures (Company, LLP, Partnership, etc.), a separate application for PAN allotment is made.

Coming to question of GST, GST Number i.e. GSTIN itself contains 10 digits of PAN of the concerned business. Check here the structure of GSTIN.

Can travel agents take a virtual office address with GST registration?

Submitted by LegalWizin on Wed, 09/23/2020 - 23:37

Yes, the travel agents can certainly take a virtual officer address with GST registration.

The virtual office is a place on rent without right to physical possession. The concerned person can use the address for the Government registrations and related matters as per the agreed terms.

There is no restriction as to using virtual office address for the GST registration in India

If you are looking for assistance for such service, feel free to connect with LegalWiz.in experts.

What is the first step before starting a business?

Submitted by LegalWizin on Wed, 09/23/2020 - 23:36

Starting a company in India is now easy compared and can be processed in simple 4 steps, as mentioned below:

Step 1: Procure Digital Signature Certificate: For affixing signatures to applications filed by e-forms.

Step 2: Reservation of name under RUN

Step 3: Drafting of MoA AoA and other documents

Step 4: Application for Company Registration in SPICe forms[1]

Please be noted that the whole process will be executed by the practicing professionals (CA/CS).

Footnotes

How much percentage should I give to silent partner in salon business?

Submitted by LegalWizin on Wed, 09/16/2020 - 02:07

It depends on what the silent partner contributes.

The partners receive three kinds of returns from the partnership firm. 1) Remuneration 2) Interest on Capital and 3) Share of Profit

An active person receives the remuneration from the partnership firm. Therefore, as an in-active partner, he/she cannot get the remuneration.

However, he is still entitled to share of profit and interest on capital.

Interest on capital being fixed, the question remains about what should be the share of profit?

I want to register an advertising firm. How should I register it? Should I go for an LLP or a company?

Submitted by LegalWizin on Wed, 09/16/2020 - 01:54

Choosing the right entity depends not only on business activity but on various other factors that include the investment needs and scale of business. Both LLP and Private Company are suitable for this business activity. However, one factor to note is investment requirement. If you are required to raise external funds in future in form of investments, it is better to choose a Private Company.

Can we use a trademark name for another company?

Submitted by LegalWizin on Wed, 09/16/2020 - 01:41

If you are operating in same field of the other company, you may not use the trademarked name without prior approval of the owner. If you wish to use the said name, you can obtain NOC from the owner allowing you to associated mark with your business.

If the operating fields are different, choose applicable classes to your business and check if their mark is registered in given classes or not. If not, you can use the mark and also apply for registration.

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