Frequently Asked Questions

GST is the biggest and the latest tax reform in Modern India. Besides improving the ease of doing business, it also increases the taxpayer base in India by bringing in millions of small businesses in India under it.

Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised.

While businesses in special category states with an annual turnover of Rs.10 lakhs and above would be required to register under GST, entities in the rest of India would be required to register for GST if annual turnover exceeds Rs.20 lakhs.

IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT).

All businesses engaged in Import and Export of goods require to register for the Import Export Code lifetime validity. Import. The code hasers are not allowed to proceed without this code and exporters can't take benefit of exports from DGFT, customs, Export Promotion Council, if they don't have this code.

The IE Code is a must while clearing customs, while sending money abroad, while sending shipments and while receiving money from abroad.

The Shops and Establishments Act is one of the most important regulations within which majority of Indian businesses fall under the purview of.

With Conscientia, you can be rest assure that from the registration of your entity to maintaining various records and registers; you will be procuring global servicing standards with best-in-class support during inspections and audits.

MSME stands for Micro, Small and Medium Enterprise. MSME or SSI enterprises are the foundation of any economies and are an engine of economic growth, advancing impartial improvement for all. MSME registration or SSI registration helps businesses to avail multiple government subsidies and benefits.

Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration or SSI (Small Scale Industry) Registration under the MSMED act.

Although getting MSME online registration is not mandatory but it is always suggested to small and medium enterprises to get it done it provides a variety of benefits. Benefits such as rate of interest charged would be very less, tax subsidies, capital investment subsidies and much other support from the government sector.

EPF (Employees' Provident Fund) and ESI (Employees' State Insurance) are social security schemes mandated by the Indian government for eligible employees and employers.

EPF registration is mandatory for establishments with 20 or more employees. It provides retirement benefits to employees. ESI registration is mandatory for establishments with 10 or more employees (in some states) and provides medical and cash benefits to employees.

FDI (Foreign Direct Investment) refers to investment by foreign entities in Indian companies. RBI governs foreign exchange transactions under FEMA (Foreign Exchange Management Act).

Companies receiving FDI must comply with various reporting requirements, sectoral caps, and regulatory guidelines. Our experts can help you navigate FDI regulations and ensure seamless compliance.

Corporate Secretarial Compliance involves ensuring that a company adheres to all applicable laws, regulations, and standards, including Companies Act, SEBI regulations, and stock exchange requirements.

This includes filing annual returns, conducting board meetings, maintaining statutory registers, and ensuring proper disclosure norms.

The time for company registration in India varies depending on the type of entity and approvals required. Generally:

• Private Limited Company: 3-7 working days (with DSC & DIN)
• LLP: 5-10 working days
• One Person Company: 3-5 working days
• Public Company: 10-15 working days