Frequently Asked Questions
Find clear answers to common questions about our compliance services, registration processes, and corporate advisory.
After the complete application is filed, it may take 20-30 days for the issuance of GST certificate.
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.
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.
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.
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.
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?
Accounting for businesses means the analysis of the book keeping processes and provide the business owner with the exact financial scenario of his/her business process. Accounting tells the business owner about how much, when and where of the financial transactions of the company by presenting the expenses and revenues on a daily, monthly, quarterly and annual basis. This helps the business owner in making key decisions about the future expenses, revenues, investments, taxes and other financial aspects of a business.
A businessman may be a complete expert in a particular domain of knowledge. He may have that knowledge and experience to setup 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.
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.
As per the Companies Act, 2013, the annual compliances consist of two parts, the first is the mandatory compliances while the second is event-based compliance requirements.
Mandatory annual compliances for companies registered under the Companies Act, 2013
- Annual General Meetings and board meetings
- Annual returns and financial statements
- Income tax and GST returns
- Audit reports
- Maintenance of registers and records
- Auditor appointment
Event-based compliances under the Companies Act, 2013
- Change of name of the registered entity
- Change of registered office of a business entity
- Change of object clauses
- Amendment of Memorandum of Association (MOA)
- Amendment of Article of Association (AOA)
- Addition and removal of directors/partners/designated partners
- Share allotment and share transfer
- Reduction of capital
- Buyback of securities
- Mergers and Acquisitions (M&As)
- Change in contribution in case of LLP
- Conversion of a company from one to another business structure
- Preparation of minutes of the various meetings
- CSR Management
- Registration of charge
- Striking off name of the company
- Audit and certification services
- Winding up/strike off of a company
- As per E-waste Management Rules, 2016, every manufacturer, importer, recycler, bulk consumer involved in manufacturing & sale, or Import & sales and recycling of e-waste or electrical and electronic equipment listed in Schedule I of E-waste Management Rules, 2016, including their components, consumables, parts and spares which make the product operational, must follow the standards and guidelines prescribed by Central Pollution Control Board (CPCB).
- To get the Electronics EPR Registration, the applicant is required to register himself on the CPCB Electronics EPR Portal. Along with the Company KYC & other documents, the applicant is required to submit the sale/purchase/import data for his firm/company, for the previous N no. of years, the number of years depending on the type of electrical & electronic equipments.
• Maintain Form-2 records of all e-waste generated, handled and disposed of and make them available for inspection by the State Pollution Control Board (SPCB) or by the Central Pollution Control Board (CPCB).
• On or before the 30th day of June following the financial year to which the return relates, file annual returns in Form-3 with the concerned State Pollution Control Board (SPCB) or to the Central Pollution Control Board (CPCB).
• Maintain a Form-2 / online record of e-waste collected, dismantled, recycled or sent to an approved recycler and make that record accessible for inspection by the State Pollution Control Board (SPCB) or by the Central Pollution Control Board (CPCB)
• On or before the 30th day of June following the financial year to which the return applies, file annual returns in Form-3 / online submission with the appropriate State Pollution Control Board (SPCB) / by the Central Pollution Control Board (CPCB).
• The recycler may accept for recycling waste electrical and electronic equipment or components that are not listed in Schedule I, provided that they do not contain any radioactive material and that this information is submitted when obtaining authorization from the appropriate State Pollution Control Board (SPCB) & by the Central Pollution Control Board (CPCB).
The annual compliances for Electronics EPR Registration are as following:
- Submit online the purchse/sale data/invoices of the electrical & electronics items, from the previous Financial Year
- Submit the Govt fee online for the annual compliances
- Transfer the recycling credits, if required, from a CPCB registered E-waste recycler
The CPCB Electronics EPR Registration is required for:
- Importers of new electrical & electronic Items
- Manufacrurers of new electrical & electronic products
- Recyclers of Electronics Waste
- Importers of Used EEEs
Maintain Sales Record in Form-2 of these rules and make such records available for scrutiny by Central Pollution Control Board (CPCB) as and when directed.
File an annual return in Form-3 to Central Pollution Control Board (CPCB) on or before 30th day of June following the financial year which that return relates to.
File quarterly report to Central Pollution Control Board in respect of amount of waste collected and recycled.
Organize Consumer awareness programs as submitted in the EPR plan.
- The dealer must collect the e-waste by providing the consumer with a box, bin or a demarcated area to deposit e-waste or by using a take-back system if he has been given the responsibility of collecting on behalf of the producer, and send the e-waste collected to the producer's designated collection centre, dismantler, or recycler.
- With the producer's take-back procedure or Deposit Refund Scheme, the dealer, retailer or e-retailer shall refund the amount to the e-waste depositor.
- It must be ensured by every dealer that the e-waste generated is transferred safely to authorized dismantlers or recyclers and that no environmental damage occurs during the storage and transportation of e-waste.
- As per Electronic EPR Compliance, E-waste is handled in Form-2 must be tracked and those records must be made available for inspection by the authorized official.
File annual returns in Form-3 with the concerned State Pollution Control Board (SPCB), on or before the 30th day of June following the financial year to which the return relates
- E-waste collected, dismantled, and transferred to an authorized recycler must maintain a Form-2 record and make it available for inspection by the Central Pollution Control Board or the State Pollution Control Board (SPCB).
- File a return in Form-3 with the appropriate State Pollution Control Board, on or before the 30th day of June following the financial year to which the return relates.
- Keep a record of e-waste collected, dismantled, and recycled in Form-2. Send it to an approved recycler and make it accessible for inspection by the Central Pollution Control Board or the State Pollution Control Board (SPCB).
- File annual returns in Form-3 with the appropriate State Pollution Control Board (SPCB), on or before the 30th day of June following the financial year to which the return applies.
- Recycling waste electrical and electronic equipment or components that are not listed in Schedule I may be accepted by the recycler and provided that they do not contain any radioactive material and that this information is submitted when obtaining authorization from the appropriate State Pollution Control Board (SPCB)