License And Registration Services
India is one of the emerging lands for new business and start-ups. With various initiatives taken by the government people are giving shape to their dreams of starting their own company with a new idea. As per the statistics, currently there are more than 7500 companies being registered every month in India. For a business to run efficiently it is very important to have the necessary licenses and to be registered. Based on the requisites which vary with every business and industry type you need to register accordingly and procure the licenses. If a business has employees or sells taxable goods or services, you need to register with the taxing authorities.
A business license is a permit issued by the government agencies of state, federal or local and is an authentic proof to start it. There are various types of licenses issued by multiple government agencies and licenses also differ between countries, state and local municipalities.
Why is a business license important for a business?
Once the registration and licenses is in place this ensures that your business is completely safeguarded. Also licenses and registrations help in protecting your personal assets in situations of lawsuit or unforeseen conditions. A registered business is a separate entity from yourself which is beneficial in outlining business income as well as losses.Belief
A licensed and registered company builds the trust and faith of both consumers and employees. Though many of the businesses may not have a license or registration, if it is with them they are totally secured which enhances the trust of the people and you can totally concentrate on the success of your business.Growth of the economy
As India is one of the major hub for new businesses it is a boost for the development of the country also registration and licenses help and protects the business in terms of funding and any legal issues.
A registered or licensed business protects an employee from unforeseen situations like injuries, specific laws, etc. For example; if you’re running any kind of salon and in the process of giving a service there might be injuries caused to the customers or employees also and if the business has a permit it becomes easy to protect from such situations.Privacy
A registered and licensed business not only safeguards the employees, customers and the owners, but also maintains the privacy of the business as well as the owner’s personal, financial and any other important information associated with the business.
Many businesses let their compliance requirements pile up, even though taking care of it involves much less effort than is often imagined. Staying disciplined from the initial days will be hugely helpful when looking for investment or a bank loan, as both would want to ensure that your business is in compliance with the MCA’s requirements.
Having a company secretary on call throughout the year is essential in ensuring that your business is run in accordance with the laws in force. Our team would keep you up-to-date with all the changes made by the MCA throughout the year.
Types of Licenses and Registrations
Trade license is one of the most important licenses’ issued by a state government in the form of a certificate to run a business. A trade license must be applied thirty days prior to starting business operations. Trade license is mandatory for food related business, manufacturing business with motives like power looms, cyber cafes and dangerous and offensive businesses like barber shop, candle manufacturers, sale of fire woods, etc. Shop and Establishment Registration Workers being the most important people in any business, it is mandatory to have Shop and Establishment Registration which regulates working conditions in the unorganized sector like payment of wages, holidays, leaves, hours of working and more. This registration being executed by the state government differs in rules from state to state. Shop and establishment Act is governed by the labour department of a state.Import Export Code Registration
Import Export Code or IEC a ten digit number allotted by the Director General of Foreign Trade (DGFT). The Import Export Code is necessary for importing goods to India and exporting goods out of India. IEC Registration is a one-time registration with life time validity. Any business which is involved in foreign trade requires an IEC Code Registration. FSSAI License Food Safety and Standards Authority in India (FSSAI) is a very crucial measure taken by the government to protect and promote public health and look into the regulation and supervision of food safety. Any business whether they are traders, manufacturers, re-packers or suppliers involved with food needs to procure a FSSAI certificate. Before a person wants to start a food business should apply for FSSAI License Registration. ESIC Registration Employees’ State Insurance Scheme in India is a multifaceted social security providing socio economic protection to the workers community and their immediate dependents with complete medical concern. ESIC Registration is compulsory in India for companies operating with more than 10 employees with a salary above Rs.15000.
Goods and Service Tax (GST) was full fledged introduced in the year 2017 to bring about an uniformity in the taxation system. In India various taxes like sales tax, central excise duty, service tax, value added tax and others will come under the gamut of a single payable tax that is GST. The GST rates differ for various goods and services. For any company incorporated in India it is mandatory to have also the GST Registration. GST was introduced to reduce the burden of paying various taxes and check on the collection of cash by the companies selling goods or services at various levels.Trademark Registration
Trademark is a sign, expression or a design for identification of products or services. Trademark Registration is a legal and authentic system to identify products and services from that of others. It protects the piracy of company names which will be used by other businesses. MSME Registration Micro, Small and Medium Enterprise or MSME are engaged in the manufacture or production, processing or preservation of goods with different investment levels for each category. As these types of enterprises are contributing to the growth of the economy in India, MSME Registration in India is very much necessary to avail the benefits that are listed under the MSMED Act.
Having pictured a broad idea on the importance of licenses and registrations which is also mandatory in India there are many procedures involved to get the proper licenses and registrations done. Various consulting companies offer these services and Aavana is one amongst them in giving you advice as to what are the licenses required for your business and also helping you to procure them. Are you looking on how to get a trade license in Bangalore? We will help you in applying and also the complete process on procuring it. We are consultants for GST Registration in Bangalore, Trademark Registration in Bangalore, ESI Consultants in Bangalore, Shop Registration in Bangalore, FSSAI License Consultants in Bangalore and MSME Registration in Karnataka.