Business

A project report is a comprehensive document that outlines the proposal of a project and its potential for success. It is a crucial document required at every stage of applying for land acquisitions, permits, and licenses for setting up an industry in India. The project report provides a 360-degree view of the project and is used to evaluate and fund it. It covers essential data and statistics from every aspect of the business, including manufacturing, technical, economic, financial, and service-related aspects. The report should be precise, accurate, and up to the mark to make the task easy for organizations. What is a Project Report? A project report is a comprehensive document that provides detailed information about a specific project. It typically outlines the project’s objectives, scope, methodology, progress, findings, and outcomes. A project report often includes details about the project’s goals, activities, timelines, resources used, challenges faced, and the results achieved. It serves as a formal record of the project’s lifecycle, serving both as a documentation of the work done and as a communication tool to convey the project’s status and outcomes to stakeholders, sponsors, or interested parties. Project reports are commonly used in various fields such as business, engineering, research, and academia to assess the effectiveness and success of a project. 5 Steps to Create a Project Report 1. Know Your Objective – Sit down, evaluate your objectives, and understand what you want to describe, explain, recommend, and prove with your report. Having set goals will not only help you proceed with your project report but also help readers understand your point of view.  2. Recognize Your Audience- Your audience plays an essential role in making your project report a success. A formal annual report differs from a financial report: the language, representation of data, and analysis changes per your target audience.  3. Data Collection – The chances of you having a solid report is when data supports it. Data plays an essential role in making people believe in your derivations. Also, support your claims by citing sources such as case studies, surveys, interviews, etc.  4. Structure the Report- A project report is further divided into certain sections. These 4 are the most common divisions of a project report: Summary: The summary gives the reader a download of all covered in the project report. Even though a summary is placed at the beginning of a project report, you can only write it once your entire report is complete.  Introduction: Mention the outline of the report, give context and mention the scope and methodologies used in the report.  Body: This is the lengthy section of the report as it contains background details, analysis, data, and graphics.  Conclusion: This section brings the entire project report together.  5. Edit and Proofread – Once your project report is ready, read it multiple times with some time gap. You can ask your co-workers to review it.  Project Report Objectives Every project report starts with a solid project report objective. Your objective should provide precise direction for the rest of the report. Consider what purpose you want your project report to serve. Are you describing new risks or explaining project delays? Or will your report focus on persuading management teams or stockholders to invest additional funds into the project?  Requesting approval for a new project Tracking the progress of the project Identifying and managing risks Managing costs and budgets Requesting financial assistance Common Project Report Types Status Reports- It talks about the progress going on with a project. It also states various significant activities associated with the project. This status report organizes the communication medium between the team and the stakeholders. It summarizes the finished tasks on the project at hand. It includes the budgetary details and the timeline of the project. It also helps identify the risks related to the project and measures to tackle them beforehand. The status report also keeps track of the events or actions or any activity taken in the past. Status reports are carried out weekly, daily, monthly, or quarterly. They help collect and distribute information about crucial activities in a project in a smooth manner.  Progress Report- While executing a project, a progress report is inevitably carried out to update everything about the project. It usually includes things like if the project baseline is fulfilled. It indicates the initial plan you prepared along with your stakeholders about a project regarding the expectations, schedules, cost, deliverables, and scope of it. A progress report informs your stakeholders how much progress has been made in the above directions.  You should prepare this status report in a specific manner by stating the project title, contact information, a summary of the status, and providing all the information about the budget, timeline, and expected completion date of the project. Risk Reports- This type of report explains the risks associated with the project in a documented form. It covers details about risks that are managed already and the emerging ones. It includes the overall risk profile of the project. Risk reports identify and state potential risks that could alter the duration of the project and tips to manage them.  Board Executive Reports- An executive report is a summary of the business plan of an organization for lending partners. It enables the team members to collect and combine the results of numerous research studies to help them decide on the project. It is the starting point of arranging a dialogue with the investors. It should be written in such a way that it creates the best impression in the minds of the lenders. It should be short and precise and comprehensively analyze the project.  Cost Benefit Analysis Report- This kind of report helps organizations know if a particular project is possible or not. It will show you how much the project will benefit your organization against the investment. It will help you decide if a project is worth taking on for your organization and how much business profit it will get you at the end of the day. Alternatively, it

E-commerce is booming in India – thanks to shopping portals like Flipkart, SnapDeal and Amazon, which has revolutionized the online shopping experience for Indian consumers. Innovative models like cash on delivery and same-day delivery backed by low prices have spurred more customer to purchase online, making Flipkart – India’s largest electronic commerce store. Flipkart sold merchandize worth more than USD 1 billion during the financial year 2013-14 and has a customer base of over 2.6 crores registered users. Flipkart currently ships over 50 lakhs shipments each month and generates over 80 lakh daily page visits. Therefore, there is a tremendous business opportunity for those who sell on Flipkart by becoming a Flipkart seller. How to become a Flipkart Seller To sell on Flipkart, a person or business must become a Flipkart Seller by signing on with Flipkart. The process for signing on as a Flipkart Seller is easy and can be started from the Flipkart Seller homepage. A person or business can signup as a Flipkart seller by providing information about the business and the products the seller proposes to sell through Flipkart. Some of the details that must be provided and verified during the Flipkart Seller registration process include: Name Email address Phone number Pickup address/business address Categories of product the business is interested in selling through Flipkart Business registration documents Business Registration In addition to the basic information about the seller, the following business-related information and documents must be submitted to Flipkart during the Flipkart seller registration process. Some of the documents to be submitted will vary depending on the type of business registration, as follows: Selling on Flipkart as an Individual or Sole Proprietorship- If an individual decides to sell on Flipkart on his/her own name and legal standing. The business will automatically be perceived to be a Sole Proprietorship business. A sole proprietorship business does not offer limited liability protection to the promoter, is not easily transferable, cannot have investors or partners, not very scalable and has limited capacity to obtain bank loans. Therefore, it is best to avoid becoming a seller on Flipkart using a sole proprietorship entity. In case a sole proprietorship is chosen, the following documents may have to be submitted: Identity Proof Signed declaration on the business letterhead, stating that the individual owns and manages the bank account held in the name of the business. Statement of bank accounting registered on Flipkart payment gateway. Passport PAN Card Voters ID Driving License Any other photo identity card Letter from a recognized Public Authority or Public Servant verifying identity. Address Proof  Telephone bill (Fixed line) in the name of the Proprietorship firm Electricity bill in the name of the Proprietorship firm Bank Account Statement in the name of the Proprietorship Letter from Employer Ration card Lease or license agreement Letter from a recognized Public Authority or Public Servant verifying identity. Selling on Flipkart as a Private Limited Company- Becoming a Flipkart Seller – as a Private Limited Company is one of the most preferred methods of becoming a Flipkart Seller as it provides limited liability protection to promoters, separate legal entity, easy transferability, ability to take on investors or partners and quickly scale-up operations. The following documents must be submitted for a Private Limited Company: Identity Proof Copy of Certificate of Incorporation of Private Limited Company Copy of Memorandum of Association Company PAN Card Address Proof  Company Telephone bill (Fixed line) Company Electricity bill Lease or rental agreement  Selling on Flipkart as an LLP / Partnership Firm- A Flipkart seller can also be a Partnership Firm. However, it is preferable to register an LLP (Limited Liability Partnership) while signing on as a Flipkart seller as it provides limited liability protection, easy transferability, separate legal entity and other documents required to become a Flipkart seller quickly. Identity Proof Partnership registration or LLP Incorporation Certificate Partnership deed Power of Attorney granted to a Partner or an Employee of the LLP or Partnership firm to transact business on its behalf Any document identifying Partners and the person holding the Power of Attorney with their photographs PAN Card of the LLP or Partnership Firm Address Proof  Any officially valid document confirming the address of the Partners and the persons holding the Power of Attorney Firm/Partner’s Telephone bill Firm/Partner’s Electricity bill Lease or Rental agreement Company Electricity bill Lease or License agreement Selling on Flipkart as a Trust & Foundation- Trusts and Foundations can also become sellers on Flipkart. Documents similar to the above documents must be provided in the name of the Trust or Foundation to establish the legal identity of the Trust / Foundation and the address of the Trust / Foundation. Important Things To Know Before You Become A Seller On Flipkart • First, you must register with Flipkart before you can sell anything. This involves creating an account, uploading documents, and passing a background check. Once you’re approved to start selling items, Flipkart will send you a Seller ID and password so you can begin listing your products. • Another thing to keep in mind is that you are responsible for all sales and shipments made on your account. If someone buys something from your account and the item doesn’t arrive or it isn’t as described, then it is your responsibility to make things right. • Finally, some rules apply to all sellers: You must list only authentic products with genuine prices; you must ship items within 7 days of receiving payment, and you cannot accept returns or offer refunds. Flipkart Seller: Tax Registration Requirement Once the Flipkart seller has decided on and registered a suitable business entity for the proposed business, the following tax registration and bank account in the name of the business or entity will be required: Business name PAN – PAN Card of the individual or private limited company or partnership TIN – TIN Number is also known as Tax Identification Number / Sales Tax Number / CST Number in the name of a business TAN – TAN is required for Tax Deduction at Source (TDS) – in the name of

Replacement of bankruptcy trustee. (1) Where committee of creditors is of the opinion that at any time during the bankruptcy process, a bankruptcy trustee appointed under section 125 is required to be replaced, it may replace him with another bankruptcy trustee in the manner provided under this section. (2) The committee of creditors may, at a meeting, by a vote of seventy-five per cent. of voting share, propose to replace the bankruptcy trustee appointed under section 125 with another bankruptcy trustee. (3) The committee of creditors may apply to the Adjudicating Authority for the replacement of bankruptcy trustee. (4) The Adjudicating Authority shall within seven days of the receipt of the application under sub-section (3) direct the Board to recommend for replacement of bankruptcy trustee. (5) The Board shall, within ten days of the direction of the Adjudicating Authority under sub-section (4), recommend a bankruptcy trustee for replacement against whom no disciplinary proceedings are pending. (6) The Adjudicating Authority shall, by an order, appoint the bankruptcy trustee as recommended by the Board under sub-section (5) within fourteen days of receiving such recommendation. (7) The earlier bankruptcy trustee shall deliver possession of the estate of the bankrupt to the bankruptcy trustee appointed under sub-section (6), on the date of his appointment. (8) The Adjudicating Authority may give directions to the earlier bankruptcy trustee– (a) to share all information with the new bankruptcy trustee in respect of the bankruptcy process; and (b) to co-operate with the new bankruptcy trustee in such matters as may be required. (9) The earlier bankruptcy trustee replaced under this section shall be released in accordance with the provisions of section 148. (10) The bankruptcy trustee appointed under this section shall give a notice of his appointment to the bankrupt within seven days of his appointment. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

The Ministry of Micro, Small, and Medium Enterprises (MSME) was approved in India in 2006. Enterprises in the manufacturing sector and enterprises in the service sector are the two types of enterprises that can register under the MSME Act. The pillar of strength for the country’s economy is MSME. Micro, small, and medium enterprises are very important for both developed and developing countries. MSME is required to boost the economy and employment of the nation. In this article, we will discuss MSME compliances. In numerous developed and developing nations around the globe, Micro Small and Medium Enterprises or MSMEs stand as pivotal contributors to economic growth. MSMEs play a role in propelling our economy’s advancement and are regarded as the driving force behind progress. Within India, the MSME sector holds substantial influence. To support the owners of these enterprises, the government has undertaken a variety of initiatives and extended benefits aimed at enhancing the efficiency of MSME operations. These measures serve to systematise records, ultimately contributing to the future acceleration of the country’s GDP growth. This article will provide an overview of MSME compliances in India, its importance, and the various compliance requirements that MSMEs need to adhere to. What is an MSME? MSME compliances in India, one must know the classification of MSMEs as per revised government criteria. MSMEs, which stands for Micro, Small, and Medium Enterprises, encompass a classification of business entities characterised by their size and annual turnover. In the context of India, these enterprises are categorised based on their investment in plant and machinery or equipment utilised for production activities. The MSME Development Act of 2006 outlines specific criteria for determining the classification of MSMEs: 1. Micro Enterprises- Micro Enterprises are defined as enterprises where the investment in plant and machinery or equipment does not surpassRs. 1 crore, and the annual turnover remains up to Rs. 5 crores. These small-scale units form the foundation of local economies and play a vital role in employment generation. 2. Small Enterprises- Small Enterprises are enterprises in which the investment in plant and machinery or equipment ranges from over Rs. 1 crore to Rs. 10 crore. Simultaneously, the annual turnover falls between Rs. 5 crores and Rs. 50 crores. This category represents a step beyond micro enterprises and often marks a phase of growth and expansion for businesses. 3. Medium Enterprises- Medium Enterprises are enterprises with an investment in plant and machinery or equipment ranging from over Rs. 10 crores to Rs. 50 crores. The annual turnover for medium enterprises falls within the range of Rs. 50 crores to Rs. 250 crores. These enterprises typically exhibit higher levels of operational scale and complexity. Importance of MSME Compliance Compliance with laws and regulations is not only a legal requirement, but also a business imperative. Failure to comply can lead to serious consequences such as sanctions, fines, legal action, loss of reputation, and even business closure. In addition, compliance helps SMEs build credibility, gain the trust of their customers, investors, and other stakeholders and create a level playing field for all market players. Significance of MSME Compliances in India 1. Reputation and Integrity- The reputation of an MSME holds immense value. Failure to comply with regulations can tarnish a business’s reputation, erode trust among customers, investors, and stakeholders, and thereby hinder growth opportunities. On the other hand, a reputation for adherence to compliance standards bolsters credibility and fosters positive relationships. 2. Sustainable Trust- MSME Compliances in India is a cornerstone of building sustainable trust within the business ecosystem. By adhering to legal mandates, MSMEs cultivate trust among stakeholders, from customers who rely on safe and ethical products/services to investors seeking secure investment opportunities. This trust forms the basis for long-term success. 3. Equitable Market Environment- A level playing field is essential for fair competition. When all market players adhere to the same compliance standards, the competition is based on merit rather than unfair advantages gained through non-compliance. This ensures healthy market dynamics and encourages innovation. Reasons for MSME The Government of India has introduced Micro, Small, and Medium Enterprises (MSME) Development to facilitate the promotion and development of MSMEs for the following reasons:- Improve the implementation of SME payments To implement statutory consultation and referral policies, Establish statutory MSME registration procedures and a statutory basis for purchasing preferences and credit policies To remove obstacles caused by multiple laws. MSME compliances Section 9 of the MSMED ((Micro, Small and Medium Enterprises Development) Act defines specific companies for which MSME Form 1 is very important compliance. These specified companies submit MSME Form 1 once every six months to the Ministry of Corporate Affairs (MCA). The listed companies are required to submit an annual return of outstanding payments to MSMEs to the Registrar of Companies (ROC) every year, which includes information on the amount due for payment and the reason for the delay. The above companies can file MSME Form 1 only if their outstanding payment to MSME suppliers has exceeded 45 days. MSME Form 1 (MCA) MSME Form 1 shows detailed and complete information with the registrar about outstanding payments to micro or small enterprises for more than 45 days in a half-year. The Ministry of Corporate Affairs has made changes to the protection and safeguarding of the interests of small businesses or enterprises. MSME Form 1 on a half-yearly basis has to be filed by specified enterprises operating in India as MSME. To close the outstanding fees, these businesses must file the form and it must be filed within 30 days of the notification. The MSME compliances that you should be aware of are- Every MSME operating in India has a match. Compliance is mandatory for running MSME businesses. Section 9 of the Micro, Small, and Medium Enterprises Development (MSMED) Act 2006 defines MSME Form 1. The said form should be filed on time. In India, every MSME has to file MSME Form 1 with the Ministry of Corporate Affairs of India once every six months. Director/CS/CEO/CFO/Manager can sign MSME Form 1 electronically as they are authorized by the company. DIN details

The acronym RERA stands for Real Estate Regulatory Authority (“RERA”) which is established under the Real Estate (Regulation & Development) Act (“Act”). This Act was introduced in the year 2016 to regularise the problems existing in the real estate sector. The Act will be implemented at the State level, and the governing authorities are responsible for the following: Registration and other related approvals for the registration under RERA of commercial properties and residential flats. Regulating the sale and purchase transactions of real estate properties. RERA registration brings about transparency in these contracts and benefits all the parties to the transaction. It also brings about accountability by reducing the chances of delay in real estate contracts. The main aim of the registration is to protect buyers of real estate and simultaneously uplift the investment in the real estate sector. The RERA Act makes it mandatory to register a project with RERA, for the launch of any residential or commercial real estate project where the land area is more than 500 square meters. Registering with RERA helps in creating transparency in the implementation of the projects launched. Objectives Of RERA Registration More transparency and accountability towards consumers in order to protect their interests. To resolve grievances by establishing the dispute resolution mechanism. To reduce frauds by increased compliances. To reduce delays through fair play. To ensure smooth operations by bringing professionalism and standards in place. To create awareness by promoting good governance practices. To bring ease in transactions due to imposed responsibilities on the promoter as well as the buyer. To set up the Appellate Tribunal to listen to appeals arising from the orders, decisions or directions of RERA. Applicability of RERA Registration Parties to the transaction – It applies to promoters and real estate agents which includes builder, developer, contractor, development body or any other public body who/which constructs/develops land/building/apartment for the purpose of sale. Type of properties – It applies to commercial buildings, residential apartments, and plot developed for sale. Area – The registration applies for real estate projects exceeding 500 sq. meters or having more than eight apartments. Process of RERA Registration and Documentation RERA registration is a state-wise registration process and hence varies from state to state. The process is online and can be applied from the official website of the state in which the registration is applied for. The promoters and the real estate agents have to submit the relevant documents along with the application for registration to the Regulating Authority of their respective states.  There are some documents that are common to the registration process across all states. They are as follows: Documents required for Promoter Registration: PAN card of the promoter. Parking slots available in the real estate project. Legal title deeds reflecting the title of the promoter of the land on which project is proposed. Encumbrance Certificate relating to the land of the project. Commencement Certificate of the project The Sanction Plan, Layout Plan, location details of the project. The plan of development works to be executed in the project. Details of previous project experience of the promoter, if any. The following documents related to the previous project experience, if any of the promoter/promoter enterprise is to be submitted along with the registration: Previous project experience – if yes, details of the projects launched by him in the last 5 years. Name of project. Status of project Any delay in its completion. Pending case – if yes, – case name and number. If the promoter is an enterprise such as a company, partnership, society or proprietorship, the following additional documents relating to the promoter enterprise is required: Name, type and registered address of the enterprise. Particulars of the registration of the enterprise such as Registration Certificate, Memorandum of Association (MOA), Articles of Association (AOA) and date of incorporation. Audited balance sheet of the previous three financial years. Audited report and directors report of the preceding three years. Name, address, contact details and photographs of the promoter/director/ partners/chairman/ or any other authorized person. In case the promoter is not the landowner on which the project development is proposed, then the following documents are required: Consent of the owner. Development agreement. Joint Development Agreement. Collaboration Agreement. Any other agreement between owner and promoter. Title deeds of the owner. Documents required for Real Estate Agent Registration: PAN. Permanent address proof. Photograph. Details of real estate agent enterprise, if applicable which includes its name, registered address, type of enterprise, proprietorship, societies, co-operative society, partnership, companies, etc. Particulars of registration of the enterprise, if applicable such as the bye-laws, memorandum of association, articles of association etc. Advantages Of Registration Of Real Estate Projects Under RERA For Buyers On-time possession of the property- The biggest loophole in the real estate sector has been fake promises by promoters of completion and delivery of projects, thereby causing huge financial worries and mistrust among the buyers. When promoters register under the RERA, they must provide the estimated date of completion of the project, failing which there will be huge penalties imposed on the promoter. Accurate details of the project- The promoter must provide the complete and accurate details of the project like the stage of completion, the amenities provided, and other relevant details or projects being executed, which cannot be altered later. Assured license clearances- Prior to RERA, the promoters would never receive the mandatory licenses and clearance from the government and delay the projects on the pretext of the same. However, for promoters registered under RERA, it is mandatory to have the licenses in place before selling even a single unit. Hence the buyers cannot be now lured into fraudulent schemes. Repair of defects- It is the responsibility of the promoter to set right any defect, and deficiencies post the purchase by the buyer. Restricted advertisement- The promoter can advertise their projects only after getting the required registration under RERA, and the registration number must also be displayed in the advertisement. Payment of the booking amount- The booking amount of 10% has to be paid only

Validity of bankruptcy order The bankruptcy order passed by the Adjudicating Authority under section 126 shall continue to have effect till the debtor is discharged under section 138. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

Order of Adjudicating Authority on repayment plan (1) The Adjudicating Authority shall by an order approve or reject the repayment plan on the basis of the report of the meeting of the creditors submitted by the resolution professional under section 112: Provided that where a meeting of creditors is not summoned, the Adjudicating Authority shall pass an order on the basis of the report prepared by the resolution professional under section 106. (2) The order of the Adjudicating Authority approving the repayment plan may also provide for directions for implementing the repayment plan. (3) Where the Adjudicating Authority is of the opinion that the repayment plan requires modification, it may direct the resolution professional to re-convene a meeting of the creditors for reconsidering the repayment plan. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

The Shop and Establishment Act regulates the shops and commercial establishments operating within the state. Every state has its own Shop and Establishment Act (“Act”). However, the general provisions of the Act are the same in all states. The Labour Department of the respective states implements the Shop and Establishment Act.  Shops are generally defined under the Act as the premises where the selling of goods take place either by retail or wholesale or where services are rendered to customers. It includes offices, godowns, storerooms and warehouses used in connection with the trade or business.  Commercial establishments are generally defined as a commercial, banking, trading or insurance establishment or administrative service in which persons are employed for office work. It includes a hotel, boarding or eating house, restaurant, cafe, theatre, or other public entertainment or amusement places. However, factories and industries are not covered by the Act and are regulated by the Factories Act, 1948 and Industries (Development and Regulation) Act 1951. Registration Under The Shop and Establishment Act The shops and commercial establishments covered under the Act must mandatorily apply for registration under the respective state Act. All establishments and business, including the people working and maintaining a business from home, must obtain a Shop and Establishment Registration Certificate or Shop License (“Certificate”) under the Act.  The proprietors who run a business from home without having any physical store or premises are also required to obtain this Certificate. The proprietors of e-commerce business or online business, or online stores and establishment must register under this Act and obtain the Certificate. Every shop and commercial establishment should register itself under the Act within 30 days of commencement of business.  The Certificate or the Shop License acts as a basic registration/license for the business. This Certificate is produced for obtaining many other business licenses and registrations. It serves as proof of the incorporation of commercial establishment or shops. It is also useful when the proprietor of the business wants to obtain a loan or create a current bank account for the business. Most banks will ask for this Certificate for opening a current bank account. Advantages of Shop and Establishment Registration Facilitates smooth inspections- The State Government authorities and local municipality keeps a check whether the shops & establishments in a particular locality are functioning properly or not by visiting and making regular inspections. You can get over such inspections quickly and smoothly if you have the shops & establishment license. Preferable for Sole Proprietorships- As there is no specific class of registration of any sole proprietorship firm, they can opt for this license as there is no regular compliance needed in this case as compared to LLP or a Private Limited Company. Ease of opening a current business account-As per the RBI and banking norms, every shop and establishment needs to have a separate business account and minimum two business registrations are required, so this can help you in a better manner. Perhaps, the shops and establishment license will help you to open a bank account with ease. Regulations Under The Shop and Establishment Act Hours of work, annual leave, weekly holidays. Payment of wages and compensation. Prohibition of employment of children. Prohibition of employing women and young persons in the night shift. Enforcement and Inspection. Interval for rest. Opening and closing hours. Record keeping by the employers. Dismissal provisions. Eligibility All the commercial establishments, such as the amusement parks, theatres, hotels, and eateries, and other entertainment houses, as well as any other such public amusement places, are liable to get registered under the act. Commercial establishment means: Any commercial sector, such as banking, trading or insurance establishments The hotels, eateries and boarding houses or a smaller café or refreshment house Any establishment where individuals are employed or engaged to do office work or provide service Amusement and entertainment places such as theatres and cinema halls or amusement parks Process For Obtaining Shop and Establishment Registration The procedure for obtaining the Shop and Establishment Registration Certificate differs from state to state. It can be obtained online or offline.  For obtaining the registration certificate online, the proprietor or owner of the shop or business must log into the respective State Labour Department website. The proprietor or owner must fill the application form for the registration under the Shop and Establishment Act, upload the documents and pay the prescribed fees. The prescribed fees differ from state to state. Once the registration form is approved, the registration certificate will be issued online to the proprietor or owner of the business. For obtaining the registration certificate offline, the registration application is to be filled and submitted to the Chief Inspector of the concerned area along with the prescribed fees. The Chief Inspector will issue the registration certificate to the owner or proprietor after being satisfied with the correctness of the application.  The registration application form contains the details relating to the name of the employer and establishment, address and category of the establishment, number of employees and other relevant details as required. Documents Required For Shop And Establishment Registration The documents required for obtaining the shop and establishment registration certificate is- Shop or Business establishment address proof. ID proof of the proprietor. PAN Card of the proprietor. Details of the employees. Payment challan. Additional business licenses necessary for starting the business, if any. Validity of Shop And Establishment Registration The validity and fees of the Shop and Establishment Certificate differs from state to state. Some states provide the Certificate valid for a lifetime, while other states provide the Certificate valid for one to five years. The registration application needs to be renewed before the expiry of the period of registration.  FAQs Q: Are the Shop and Establishment Act valid in all states/UTs across India? Yes, the Shop and Establishment Act applies to the whole country. However, every state/UT has its own act to govern entities falling within the state’s area/boundary. However, the general provisions of the act of all states are similar. Q: Is the Shop and Establishment Act applicable for the establishments of the central and state government? No. The establishments of the central and state government are

Summoning of meeting of creditors (1) The resolution professional shall issue a notice calling the meeting of the creditors at least fourteen days before the date fixed for such meeting. (2) The resolution professional shall send the notice of the meeting to the list of creditors prepared under section 104. (3) The notice sent under sub-section (1) shall state the address of the Adjudicating Authority to which the repayment plan and report of the resolution professional on the repayment plan has been submitted and shall be accompanied by – (a) a copy of the repayment plan; (b) a copy of the statement of affairs of the debtor; (c) a copy of the said report of the resolution professional; and (d) forms for proxy voting. (4) The proxy voting, including electronic proxy voting shall take place in such manner and form as may be specified. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida  Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA

FSSAI registration is one of the most important registration requiredby every person involved in the food business, such as persons who wish to open a restaurant, bakery, hotel, cloud kitchen or food stall in India. Every Food Business Operator (FBO), such as entities or persons involved in manufacturing, preparation, selling, transportation, distribution and storage of food articles/products, are also mandatorily required to have an FSSAI registration to carry on their food business. FSSAI stands for Food Safety and Standards Authority of India. It is an organisation that monitors and governs the entire food business in India. It is an autonomous body that is established under the Ministry of Health and Family Welfare, Government of India. The FSSAI has been established under the Food Safety and Standards Act, 2006 (FSS Act) which is a consolidating statute related to food safety and regulation in India. It ensures the food products undergo quality checks thereby curtailing the food adulteration and sale of sub-standard products. It is responsible for the registering and licensing of the FBOs in India and it lays down the rules and regulations for running the food business in India. Food Business Operators Who Require FSSAI Registration? The Food Business Operators (FBOs) carrying on the following kinds of the food business must have FSSAI License/Registration: Petty retailers, Retail Shops, Snacks shops, Confectionery or Bakery shops, etc Temporary stalls, fixed stalls, or food premises are involved in preparing, storing, distributing, and selling food products. Hawkers sell packaged or freshly prepared food by traveling from one location to another. Dairy Units, including Milk Chilling Units, Petty Milkmen, and Milk Vendors Slaughtering house Fish Processing, Meat Processing, and unit All Food Manufacturing units that include Repacking food Vegetable Oil Processing Units Proprietary food and Novel food Cold/refrigerated storage facility Transporter of food products having several specialized vehicles like insulated refrigerated vans/wagons, milk tankers, food wagons, food trucks, etc Wholesalers, suppliers, distributors, and marketers of food products Hotels, Restaurants, and Bars Canteens and Cafeteria, including mid-day meal canteens Food Vending Agencies and Caterers Dhaba, PG provides food, a Banquet hall with food catering arrangements, Home Based Canteen, and Food stalls at fairs or religious institutions. Importers and Exporters of food items and food ingredients E-Commerce food suppliers, including cloud kitchens Eligibility Criteria for Food Business Registration/License The document attached here provides eligibility criteria for Food Business Registration/License. FSSAI Registration Every person (natural or artificial) involved in food business, such as manufacturing, processing, storage, distribution and sale of food products must compulsorily obtain FSSAI Registration or License. FSSAI Registration is different from the FSSAI License depending on the size and nature of the business. FBOs should obtain the necessary registration or license depending on the size of their businesses. FSSAI Registration is a 14-digit registration or a license number that is printed on all the food packages. The 14-digit registration number gives details about the assembling state and producer’s permit. This registration procedure is aimed to create more accountability on the FBO to maintain the quality of the food products.  The licensing and registration procedure and requirements are regulated by Food Safety & Standards (Licensing and Registration of Food Business) Regulations, 2011. FSSAI Registration/FSSAI License FSSAI registration is provided based on the business types, turnover, and production capacity. According to the installed capacity and turnover, FBOs are eligible for essential, central, and state licenses. Types of FSSAI Registration FSSAI registration is based on the business types, turnover and capacity of production. Depending upon the installed capacity and turnover, FBOs are eligible for license such as basic license, central license, and state license. FSSAI Basic Registration – FBOs having a turnover of less than Rs.12 lakh p.a must obtain FSSAI basic registration. The FSSAI registration form that the applicant has to fill to obtain FSSAI basic registration is Form A. FSSAI State License – FBOs having a turnover of more than Rs.12 lakh p.a and less than Rs.20 crore p.a must obtain the FSSAI state license. The FSSAI registration form that the applicant has to fill to obtain an FSSAI state license is Form B. FSSAI Central License – FBOs having a turnover of more than Rs.20 crore p.a must obtain the FSSAI central license. The FSSAI registration form that the applicant has to fill to obtain FSSAI central license is Form B. Benefits of Procuring FSSAI Food License Obtaining a license can provide the food business with legal benefits, build goodwill, ensure food safety, create consumer awareness, and assist in business expansion. Also, it helps regulate, manufacture, storage, distribution and sale of import food. It is easy to obtain funds from investors when an FBO has FSSAI registration. The FSSAI logo on the food products ensures the quality of food to the customers. The FSSAI registration number displayed on the food premises indicate that the premises comply with the hygiene and quality standards. Difference between FSSAI Registration and FSSAI License Particulars FSSAI Registration FSSAI License Turnover Limit Businesses having an annual turnover not exceeding Rs.12 lakh Companies having an annual turnover of more than Rs.12 lakh Types Basic Registration FSSAI Central License and FSSAI State License Size of Business Petty food business operators Medium and large-sized food business operators and food businesses Duration Duration depends on the applicability of the registration Issued for a period of a minimum of one year and a maximum of five years Application Form A Form B Fees for Registration/License Fixed at Rs.100 per year. It varies from Rs.2000 to Rs.7500 per year, depending on the criteria and type of license. Publication The FBO should display the FSSAI registration on the office premises, and the registered number should be displayed on the product package. The exporter, importer, traders, and producers have to mandatorily publish the FSSAI license number on the package of the products. Procedure for Obtaining FSSAI Registration Online FBOs can obtain FSSAI registration online by filling and submitting the FSSAI registration form, i.e. Form A (application for Registration) or Form B (application for State and Central License) on the FoSCoS portal. The FBOs can also register offline by submitting Form A or Form B to the Food and Safety