Frequently Asked Questions

The accounting and book-keeping companies set up a process wherein each and every financial transaction of the client company is recorded and maintained for future use. All the bills and invoices issued by the client company and bills and invoices issued to the client company are recorded at multiple times and collated at a later stage for any discrepancy. Another set of processes are developed to reconcile the books on a daily, weekly, monthly basis and the reconciliations are performed in an efficient and effective manner.   

A businessman may be a complete expert in a particular domain of knowledge. He may have the knowledge and experience to set-up a successful business enterprise. But he/she may not have a keen interest in the accounting and book-keeping of the business. He/she may not have the required exposure to the methods and mechanisms by which accounting information could be employed for a good decision-making process. The role of the specialist accounting and book-keeping agency begins at this stage. The agency is required to record and present the financial information of the business entity to the business owner in such a way that the business owner could derive value out of this exercise. 

Accounting for businesses means the analysis of the book-keeping processes and provides the business owner with the exact financial scenario of his/her business process. Accounting tells the business owner about how much, when & where of the financial transactions of the company by presenting the expenses and revenues on a daily, monthly, quarterly & annual basis. This helps the business owner in making key decisions about the future expenses, revenues, investments, taxes & other financial aspects of a business.

The Book keeping is the process of recording financial transactions of a business enterprise in a structured manner. The book keepers record each and every financial transaction, whether incoming or outgoing, of cash resources of a company. The book keeping also assists the accounting process of a business entity.

If a business has been issued a GST certificate but the business entity as not yet sold any goods or services and also not bought any goods or services, the GST certificate holder is required to file zero returns, as there is no tax liability for the said business.

There is no Government fee for GST return filling except the tax amount to be paid to the Government for the goods and services sold or purchased by the business entity. 

To file GST returns of a business, the applicant is required to visit the official Government website for GST Returns fillings. After the submission of unique login id and password, the applicant can upload the details of all the bills issued by the business entity or received by the business entity. 

GST return is a statement that includes all the details of your purchase, sales, tax paid on purchase (input tax), and collected on sales (output tax). A GST certificate holder is required to file a GST return/filling to pay the resulting tax liability.

After the complete application is filed, it may take 20-30 days for the issuance of GST certificate. 

There is no Government fee for GST Registration and the applicant does not need to spend any money for GST registration, though any private individual/entity hired for GST Registration Certificate may charge a nominal amount.

You are required to visit the official Government website, you will get the option of new GST application, modify earlier application or cancel the GST certificate issued earlier.

To apply online for GST certificate, please visit the official website, you are required to fill in your details, including PAN card number and Bank details. You are also asked to upload your documents such as UID number, address proof etc. After the verification of these documents, a unique GST number is issued and the GST certificate is emailed to the applicant.

GST means Goods and Services Tax. It is a unique identification number allotted to a business entity for paying the applicable taxes on the goods sold and services delivered by it or goods bought and services hired by this entity. 

The valdity of the SCOMETRegistration is 24 months, after which it is to be renewed. 

For each application for the issuing of the authorization, an electronic registration cost of INR 1,000 must be paid using the online system.

Penalties under the FTDR Act will apply if any of the SCOMET articles are exported without the required license.

The Import, Export & SCOMET Policy in the Regulatory Updates part of the DGFT website at http://dgft.gov.in/CP/ has the list of "SCOMET" products.

Special Chemicals, Organisms, Materials, Equipment, and Technologies (SCOMET) regulations in India need registration. To register, you must normally complete a checklist that is provided by the appropriate government entity, which is usually the Directorate General of Foreign Trade (DGFT). This is a broad inventory that might be useful:

1.  Application Form - Get the correct SCOMET registration application form from the DGFT office or website.

2.  Documentation - The ensuing paperwork is necessary for registration.

• IEC
• UID and PAN of Authorized Person
• PO
• End-user certificate
• Channelization of Product Movement
• Last 3 years turnover

3.  SCOMET Category - Find out which particular SCOMET category your technologies or products come into. Make sure the things you sell adhere to the rules.

4.  End Use Statement- Give a detailed end-use statement outlining the export items' intended use and destination.

5.  Export Control Classification Number- Get the Export Control Classification Number (ECCN) if it applies to your products. This facilitates determining the degree of control necessary for export.

6.  Technical Information- Give particular technical information about the goods you plan to export.

7.  Compliance Requirements- Declare that you are in conformity with all applicable export control laws and SCOMET requirements in your compliance statement.

8.  Registration Fees - As stipulated by the DGFT, pay the relevant registration fees.

9.  Submission - Send the filled-out application form to the DGFT office together with the necessary paperwork.

10.  Review and Approval - Watch for the DGFT authorities' review procedure. After reviewing your application, they could ask for more details if necessary.

11.  Registration Certificate - The DGFT will issue you a registration certificate if your application is approved, enabling you to export SCOMET articles.

To prevent any legal problems pertaining to export control, it is imperative to make sure that all SCOMET rules are fully complied with and that the DGFT instructions are rigorously followed. Furthermore, since rules might change over time, it's a good idea to see what the most recent needs and updates from the appropriate authorities are.

There are nine broad categories under which SCOMET Items are divided. These are as following:

Category 0: Materials relating to nuclear energy, equipment, and technology

Category 1: Chemical agents that are toxic and other substances

Category 2: Microorganisms that are toxic

Category 3: Materials, Equipment for Processing Materials, and Associated Technologies Category 4: Other nuclear-related technologies and equipment not covered by Category 0 Category 5: Aircraft systems, apparatus, including test and production equipment, associated technology, and specifically made parts and add-ons

Category 6: Munitions list 

 Category 7: Reserved

 Category 8: Unique Materials and Associated Devices, Materials Handling, Computers, Electronics, Telecommunication, Information Security, Lasers and Sensors, Navigation and Avionics, Marine, Aerospace, and Propulsion.

Further clarification has been provided regarding the contents of the SCOMET list. These include non-controlled items that contain one or more controlled components where the controlled component(s) is the primary element, used items that fall under the list, and technology needed for the development, production, or use of items controlled under Category 8 of the SCOMET items

Import- The authorization for restricted imports is good for imports for a period of 18 months after it is issued.

Export- The 24 months that follow the date of granting of the restricted exports authorization are when the authorization is valid for export.

1. Export- For each application for the issuing of the authorization, a thousand rupee registration fee must be paid electronically using the online system.
2. Import- For each application for the issuing of the authorization, an electronic registration charge of INR 1 per thousand, subject to a minimum of INR 500/- and a maximum of INR 1 Lakh on the CIF amount of the authorization, must be paid through the online system.

A.    IEC
B.    Purchase order/ Invoice/ Bill of Lading
C.    Pollution Certificate(for Manufacturing/Recycling Unit)
D.    Aadhar card and Pan card of Authorised Person
E.    Mob no and Email ID
F.    Product description

"Restricted" items are those whose import and export are only allowed under specific conditions, such as those outlined in a notification or public notice, or which can only be imported or exported with an authorization, permission, or license.

A pre-packaged commodity is defined as the one which is packaged in the absence of purchaser, containing a pre-determined quantity. 

Legal Metrology monitors the units of weights & measurements, the practices of weighing & measurement and the instruments related to weights & measurements, so that the security & accuracy of weighing & measurement instruments be ensured. 

A dealer is a business entity which operates in buying, selling, suplying or distribution of any weight or measure. A Dealer is a business entity which could be an importer, manufacturer or a commission agent engaged in selling or supplying of manufactured items. 

The process of using radio-pharmaceuticals, as specialty medicine, to investigate the ailments of human anatomy, physiology & pathophysiology to diagnose & treat the diseases which are plaguing humans.
To get the Atomic Energy Regulatory Board (AERB) Registration, any individual or a business entity/Health care must establish a plan to operate any nuclear medicine equipment such as PET, PET-CT, Gamma Camera, or SPECT for the diagnosis & treatment of their patients.

The Atomic Energy (Radiation Protection) Rules, 2004 delineate the rules & regulations for the safe handling of radiation-generating equipment or X-ray equipment). Each manufacturer/ supplier/ user of x-ray equipment is required to get this Registration, as per rule 3 of The Atomic Energy (Radiation Protection) Rules, 2004.  

Documents required 

1. AERB authorized / Type Approved X-ray equipment from AERB registered suppliers 
2. The AERB NOC for new equipment or declares equipment if existing equipment is being used 
3. Qualified persons’ details  
4. Approval from the RSO 
5. The detailed list of other mandatory instruments 
6. Site Plan / layout of the facility