Professional Documents
Culture Documents
Submitted By : Mrudula Pathakota, Mythili.S, L. Preethi & R.Sri vidya MFM III Sem , NIFT , CHENNAI
A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers
Before doing all the registration mandatory to ans the below ques :
What ? ( Product ) Where ? ( Location) How ? ( Floor Plan & Merchandise & Marketing ) When ? ( Duration of biz) & then
PAN Card TAN (Tax Collection & Deduction Account Number) VAT/ CST Registration Central Excise License Professional Tax Employee Provident Fund Registration ESI (Employee State Insurance) Registration
PAN Card Partnership deed TAN (Tax Collection & Deduction Account Number) VAT/ CST Registration Central Excise License Importer Exporter Code Professional Tax Employee Provident Fund Registration ESI (Employee State Insurance) Registration
Procedure 1
Obtain director identification number (DIN) online from the Ministry of Corporate Affairs portal (National)
ID Proof & Residence Proof is mandatory Time to complete: 1 day Cost to complete: INR 100
Procedure 2
Obtain digital signature certificate online from private agency authorized by the Ministry of Corporate Affairs (National)
7 certification authorized agencies in India. Time to complete: 3 days Cost to complete: INR 1,500
Procedure 3
Reserve the company name online with the Registrar of Companies (ROC) (National)
Procedure 4
Requires e form 1, e form 18 & e form 32 with MOA, AOA & approval of initial directors
Cost to complete: INR 1,300 (INR 200 for Memorandum Of Association + INR 1,000 for Articles Of Association for every INR 500,000 of share
capital or part thereof + INR 100 for stamp paper for declaration Form 1)
Procedure 5
Procedure 6
Make a seal (Private) Time to complete: 1 day Cost to complete: INR 350 (aprx )
Procedure 7
Obtain a Current Account with bank & Permanent Account Number (PAN) from an authorized franchise or agent appointed by the National Securities Depository Ltd. (NSDL) or the Unit Trust of India (UTI) Investors Services Ltd., as outsourced by the Income Tax Department (National)
Procedure 8
Obtain a Tax Account Number (TAN) for income taxes deducted at source from the Assessing Office in Income Tax Department
Procedure 9
Registration with Office of Inspector, Shops and Establishment Act Time to complete: 2 days Cost to complete: INR 2000
Procedure 10
Register for Value-Added Tax (VAT) at the Commercial Tax Office (State) Time to complete: 12 days Cost to complete: INR 5,100
Procedure 11
Register for Profession Tax at the Profession Tax Office (State) Time to complete: 2 days Cost to complete: No cost
Procedure 12
Register with Employees Provident Fund Organization (National) & Register for medical insurance at the regional office of the Employees State Insurance Corporation (National)
Signing a lease agreement for the space with the mall along with the
above procedure.
The foreign retailers must invest a minimum of US$ 100 million on the project.
A minimum of 50% of the total investment must be made in back-end infrastructure, such as warehouses, supply chains, cold chains, etc. The government has clarified that infrastructure will not include investment in real property or rentals or front offices.
The retailers can set up stores in only those Indian cities which have a population of more than 1 million. There are approximately fifty (50) such
cities India.
o
It is mandatory for the retailers to source at least 30% of the manufactured items in the store from small or medium Indian enterprises
Prior approval of DIPP and FIPB will be required to determine whether the proposed investment satisfy the guidelines.
RBI - Banks shall not honour foreign cheques presented after 3 months of issue
The notification lays down the pre-conditions for undertaking MBO retailing which do not include requirement of a foreign company to set up
Investment should be only in the form of equity , CCPS & CCD retail trading, in any form, by means of e-commerce, would not be
permissible, for companies with FDI, engaged in the activity of multibrand retail trading. Single Branded Outlet
o
Foreign single brand retailers are now permitted to invest 100% in the Indian market.
This implies that the foreign single brand retailers can now set up their own entities / subsidiaries in India without requiring tie ups with the Indian companies.
RBI - Banks shall not honour foreign cheques presented after 3 months of issue
Analyzing the need ( Concept, market & finance ) Registration of Franchise Disclosure Document with trade commission Info about business, operating manual, description of mgt teams business experience
The franchise fee and royalty percentage The term of your franchise agreement The size territory you will award each franchisee What geographic area you are willing to offer franchises within The type and length of training program you will offer
The business experience and net worth franchisees need How you will market the franchises Whether you want an owner-operator for each unit or area/master franchisees who will develop multiple unit
o o o o
Create Needed paperwork & register as franchisor Make key hires Selling Franchises Support Franchises
100% FDI is allowed in wholesale trading which involves building of a large distribution infrastructure to assist local manufacturers.
The wholesaler deals only with smaller retailers and not Consumers.
Through these rights, Indian companies can either sell it through their
Mango, the Spanish apparel brand has entered India through this route with an agreement with Piramyd, Mumbai, SPAR entered into a similar agreement with Radhakrishna Foodlands Pvt. Ltd
The foreign brands such as Nike, Reebok, Adidas, etc. that have whollyowned subsidiaries in manufacturing are treated as Indian companies and are, therefore, allowed to do retail.
These companies have been authorised to sell products to Indian consumers by franchising, internal distributors, existent Indian retailers, own outlets, etc.
Sierra Enterprises but now has a wholly owned subsidiary, Nike India
Private Limited.
Discounted Stores
Apply for a doing business as license and register your name through your county or city, according to Business.gov.
Obtain a vendor's license simultaneously as you will need to pay sales taxes.
a resale permit, fictitious name certificate, sales and use tax permit or Employer Identification Number.
Bibliography :
http://www.dcmsme.gov.in/howtosetup/grgxx01x.htm http://www.professionz.com/in/businesses-in-india/how-to-start-a-business.html
http://trak.in/tags/business/2009/07/01/starting-business-in-india-simplified-process/
http://www.indiacompanysetup.com/india-company-formation-pvt-ltd/ http://ccsindia.org/ccsindia/interns2002/02.pdf http://siteresources.worldbank.org/SOUTHASIAEXT/Resources/Publications/4488131171300070514/india.pdf http://elagaan.com/company/sole-proprietorship-registration-india http://business.gov.in/starting_business/org_partnership.php http://www.anaassociates.com/publications.php http://www.entrepreneur.com/article/204998 http://www.kpmg.com/IN/en/IssuesAndInsights/ArticlesPublications/Documents/Indian%20Reta il-%20Time%20to%20change%20lanes.pdf http://www.wikihow.com/Start-an-Online-Store