Log in | Create new account Free!
Esty is a platform which provides Indian creative manufacturers to sell their products overseas which amounts to ‘EXPORTS’. Therefore, to register the business on Esty having IEC and GST Registration is mandatory. One of the clarifications by Government also states that export service is an inter-state taxable supply and therefore is liable for GST registration.
As the company is an artificial person created by law, it cannot act on its own. To carry out its day to day operation it needs a natural person who manages and runs operations smoothly. Here comes the role of Directors, they are appointed by the owners i.e. shareholders of the company to manage and run the operations in the best interest of the stakeholders with in good faith and to promote the objects of the company. The relationship between the company and director is of Employer and Employee or trustee relationship where the Directors are a trustee for the shareholders.
Private Limited Company is the most popular structure for business and offers ample stability and growth opportunities. More stringent compliance measures to be followed, hence enjoys more credibility and easy finance availability. A parameter of cost includes the Government fee for filing, Stamp duty to State Government and Professional fees. Although for small companies Government fee is declared to be Zero, the applicable stamp duty to concerned State Government is to be paid.
What is Debenture?
As per section 2(30), debenture includes debenture stock, bonds or any other instrument of a company evidencing a debt, whether constituting a charge on the assets of the company or not;
Provided that—
(a) the instruments referred to in Chapter III-D of the Reserve Bank of India Act, 1934; and
(b) such other instrument, as may be prescribed by the Central Government in consultation with the Reserve Bank of India, issued by a company,
shall not be treated as debenture.
Accounting of any entity is to be carried on according to the Accounting Principles provided by Indian Accounting Standards. There is nothing like easy or difficult in accounting based on business form, it depends on type of transactions and number of transactions carried on by the entity.
Accounting is best with professional assistance. If you are searching for one, team LegalWiz.in can surely help you.
Yes, one can take a loan from an individual such as friends and relatives in proprietorship firm. However, it is always healthy to take a loan from financial institutions to avoid any dispute in future and maintain pure relationship with them. Further, the loan amount is considered as a liability and interest on loan is considered as an expense not an income in any business, hence you need not to pay any income tax on such loan or interest amount because tax is to be paid on income only.
SGST is abbreviation of State Goods and Service Tax. SGST is a tax levied on intra state (within State) supply of Goods or Service by State Government along with CGST (Central Goods and Service Tax). SGST is governed by SGST Act of respective State.
Any tax liability available under SGST can be setoff for SGST or IGST input tax credit.
The general rule is that once the Trademark is applied you cannot alter it afterwards.
However, there is one form “Application/Request for miscellaneous functions in respect of a trademark Application/ Opposition/Rectification under the Trade Marks” called as TM M under which one can make an application for some minor changes like addition of a single letter which got missed at the time of making an Application.
If a Partner is retiring from the Partnership Firm and the primary place of business is also changing then both the changes can be done by executing supplementary deed to original Partnership Deed.
After drafting of supplementary deed, it is printed on stamp paper of value based on State Stamp Act and place at which Partnership Firm is situated.
Joint Venture means an arrangement between two or more persons to work together for the common interest for a particular purpose or particular project. To enter into a Joint Venture one needs to enter into an agreement or contract where each clauses relating to rights and obligations of parties are mentioned. One should consider following points while entering into such contracts.
