How to Set Up a Business Around Delhi

Every individual, business and a private firm in India needs chartered accountants to handle their money and tax related work. CAs are especially needed when an individual or group of individuals want to set up a new business or start a new venture. Delhi and its surrounding cities like Noida, Gurugram and neighboring regions have become a center of business activity in North India. Setting up a business and maintaining it requires the help of CA firms that are capable of handling tax process and giving sound financial advice to their clients. The following are ways in which CA Firms in Noida and other regions around Delhi help setup businesses.

Solutions Offered By CA Firms to Start a Business

Generally while starting a company, the first step is to register the company with the Registrar of Companies or ROC. Either a Private Limited Company can be set up or a Limited Liability Company can be set up depending on the size of the company, the number of shareholders and the organizational structure of the company. Chartered accountancy firms help set up and register a client’s company with the ROC. Company Formation in Noida will be very easy if the work is given to a reputed CA firm in Noida which will handle the entire process. This process includes the filing of the Memorandum of Association (MOA) and the Articles of Association (AOA) with the ROC.

Chartered Accountancy Services – After Forming a Business

Hiring a Chartered Accountant in Delhi will help a business stay on track with a number of key processes needed to keep a business afloat and flourishing. XBRL Filing, stock audits, technical audits and accounting and bookkeeping of the firm is often outsourced to reputed Chartered accountancy firms in the city. This helps business keep up with their finances and also ensures an outside vigilance is maintained, regarding the financial aspect of a company. Companies hire CA firms for other tasks like complete payroll processing and tax advice and consultancy regarding income tax, service tax, and excise. Goods and Services Tax has been introduced recently in India. CA Firms help businesses file exact Goods and Services Taxes by providing advisory on how this new law is to be implemented. Besides this chartered accountant help businesses in other areas like registration of trademarks, accounting as per revised government rules and taxation services for nonresident Indians. Other services offered by the CA firms include preparation and filing of tax returns, advising clients on tax strategies and also helping out international firms with international taxation rules and policies.

Setting up a business is not a difficult task if a reputed chartered accountancy firm is involved in the process. There are many rules, regulations, and policies that are listed in setting up a business in India and so doing things by the book is always advisable.

How to Register For GST Online?

For registering online, you can open the government’s official website where you will get the online application for registration or simply search in Google for the form. Make sure you do fill the authentic application. After you are done there, you would be asked if there are any changes you wish to make or you are satisfied with the replies. Then you can proceed for its submission. 

Steps that should be followed

There are certain steps in this online registration which has been detailed below:

• Fill up the application form of GST registration
•  Note down the secured GST Identification number. 
•  If you are in Noida, your GST Consultant In Noida will take care of the entire application, from beginning till the end
• There is no need to visit any offices and the entire thing can be taken care of through online means.
• You can also get access to GST software for free for next 1 month.
• The process is pretty simple and with a good internet connection, can be done within a few days.

What is the need?

Under the law of GST, any person whose income from business exceeds 20 lakhs is supposed to come under certain taxation. To pay that tax, GST registration is necessary. For some specific businesses, it is important that GST registration is compulsory. If an organization or individual is found guilty of non-registration, they may have to suffer heavy penalties as a punishment. It is better to get the registration done since the process is simple and takes merely two to six days for confirmation.

Should you do GST registration?

Not everyone has to do it. Therefore, to know if you come under the category of one, check the list below:

• E-commerce aggregators are taxable under GST.
• Those who supply or continue business with the help of E-commerce aggregators.
•  Those who were already registered under laws like – Service tax, Excise, VAT etc.
• Those businesses that exceed 20 lakhs turnover. (For states like Jammu and Kashmir, Himachal Pradesh, Uttarakhand and North Eastern states, the amount is 10 lakhs.)
• Persons who are non-resident taxable or casual taxable. 
•  GST registration should also be done by those who pay tax under the law of reverse charge mechanism.
• Check if you fall on this list and get registered today.

Required documents

• Enlisted below is a list of the documents that you need for the registration.
• The digital signature of the applicant.
• Aadhar card.
•  Pan card
• The certificate for your business registration.
•  ID proofs of promoters along with their passport size photo.
• An address proof of the place of business.
• Statement of the bank account.
•   Letter of authorization.

Keep all these documents handy when you sit for the registration. If you are stuck, you can contact a Chartered Accountant In Delhi who can easily help you out.

As a responsible resident of the country, one should pay taxes at time. For any misconduct under non-registration of GST, the government can fine up to 10,000 rupees. If you have started a new business and do not wish to have any problems, a much better option is to get in touch with the experts of SHA & Associates.

Who Can Be The Best GST Consultant For Your Firm?

GST has made up so much noise since its introduction that by now almost everyone knows the basic knowledge of what it is. The taxation system is new and has proven to be beneficial for both the customers as well as the dealers. Some of the most important benefits of GST are:

• Simplified Way Of Taxation System 
• One Time Taxation On The Manufacturing Cost, Reducing Down The Price Of Products 
• Leading To A Lesser Number Of Corruptions, And Many Others.

Thus, when you are into a business, it is important to be friendly with the term GST and also to get help from the best consultants. How can you know that the consultant is best for you?

Here are some of the important factors that you can consider.

Filling Of Different Documents

For any taxation services, it is important to go for a person who is well-experienced in the paperwork. The person should be well-skilled and much be experienced with the work before. Look out whether the person is experienced enough in offering services such as:

• Filing An Application For GST Registration Noida
• Filing An Application For Modification In Registration Or Cancellation
• Filing A Refund Claim
• Filing An Appeal To Different Authorities. 

Other Services

Apart from the documentation and paperwork, there are many other services that the consultant should be expert in. Some of the most important services apart from filing and documentation are:

• Providing Details Of Inwards And Outwards Supplies
• Providing GST Returns On Monthly And Yearly Basis
•  Keeping A Track Of Payments Such As Penalty, Interest, Tax, And Others
• Taking Care Of Various Proceedings Such As Inspection, Seizure, And Others. 

Answering Your Queries

The above mentioned services are those that you should be expecting from the consultant. But there are also many things that you need to check yourself such as the friendly attitude of the consultant. It is important to hire a consultant who is highly cooperative. Thus, you should have a detailed talk with him and understand his personality and nature. 

There can be a number of times when you may get confused or you may have a number of questions in your mind regarding a particular decision made. The consultant must be able to answer such queries without getting irritated. If the person is cooperative with you, the problems in the taxation system of your firm can get resolved much faster and without much loss. 

Sometimes, trusting on one single person may lead to troubles. A much considerable idea in this case is to contact a particular firm in place of contacting a single Chartered Accountant in Noida. You can get various extended services such as customer care, varied service departments and many others. 

If you are in search of such a firm SHA & Associates is the one that you can go for. The firm is a team of expert chartered accountants who are professionals in dealing GST and various other taxation related operations. With the best skills, they also are quite experienced to offer you expert consultancy service.