How to register a firm or a company in India
22 Mar. 2024
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What's the process to obtain a licence and registration for a business in India ?
What's the process to obtain a licence and registration for a business in India ?
The process to obtain a license and registration for a business in India can vary depending on the type of business and its location. However, here are some general steps you may need to follow:
Choose a Business Structure: Decide on the type of legal structure for your business, such as Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company, or Public Limited Company.
Register Your Business: Register your business with the appropriate authorities. This could involve registering with the Ministry of Corporate Affairs for companies, Registrar of Firms for partnerships, or the local Municipal Corporation for small businesses.
Obtain PAN and TAN: Apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) from the Income Tax Department.
Get GST Registration: If your business turnover exceeds the prescribed threshold, you need to register for Goods and Services Tax (GST) with the GST department.
Trade License: Obtain a trade license from the local municipal authority or the concerned state government, depending on your business's location.
Professional Tax Registration: Enroll for professional tax registration with the State Tax Department if applicable to your business.
Shop and Establishment Act Registration: Register your business under the Shops and Establishment Act with the local labor department.
ESI and EPF Registration: If your business employs more than a certain number of people, you may need to register for the Employees' State Insurance (ESI) and Employees' Provident Fund (EPF) schemes.
Obtain Required Permits and Clearances: Depending on the nature of your business, you may need to obtain specific permits and clearances from relevant authorities, such as pollution control board clearance, fire safety certificate, etc.
Other Licenses and Registrations: Depending on the industry, you may need additional licenses and registrations, such as FSSAI license for food-related businesses, Drug License for pharmaceuticals, etc.
Maintain Compliance: Once your business is registered and operational, ensure that you comply with all relevant regulations and renew licenses and registrations as required.
It's advisable to consult with a legal expert or a chartered accountant familiar with business regulations in India to ensure compliance with all legal requirements specific to your business.
