40%

Original price was: ₹9,999.00.Current price is: ₹5,999.00.

Deliverables *

a) Detailed discussion with the Lawyer to understand your JV related transaction.

b) Experienced business law expert Lawyer will draft the JV agreement.

c) Final discussion call to add suggestion you may have.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Choose your required Document & pay

Category:

Documents Required For GST Registration

PAN card of the applicant;
Aadhaar card of the applicant;
Proof of business registration (e.g. partnership deed, MOA, AOA)
Address proof of the place of business (e.g. rent agreement, electricity bill)
Bank account details
Digital signature certificate (DSC) of the authorized signatory

Advantages of Getting your business GST Registered

Legitimacy and credibility in the eyes of customers and suppliers
Eligibility to claim an input tax credit (ITC) on purchases
Simplified taxation and compliance
Access to various government schemes and benefits
Expansion of business operations to other states

GST Registration Service by LegalAspire

LegalAspire can assist clients in India to draft a Non-Disclosure Agreement (NDA) online in the following ways:

  1. Legal Assistance: LegalAspire also provides legal assistance to clients who require more customized NDAs. Clients can consult with legal experts who can help them understand the legal implications of the NDA and draft a tailored agreement that meets their specific requirements.

  2. Review and Editing: LegalAspire can also review and edit NDAs that have been drafted by clients to ensure that they are legally sound and enforceable. This service can be particularly useful for clients who have already drafted an NDA but are unsure about its legal validity.

  3. Templates and Samples: LegalAspire offers a range of NDA templates and samples that clients can use as a starting point when drafting their own NDAs. These templates and samples can provide clients with an idea of what should be included in an NDA and how it should be structured.

Overall, LegalAspire can assist clients in India to draft Non-Disclosure Agreements quickly, easily, and cost-effectively, ensuring that their confidential information remains protected.

Procedure for GST Registration at the Legal Aspire:

Here are the steps to register for GST with LegalAspire:

  1. Purchase the GST registration plan from LegalAspire, and our experts will start working on it.
  2. Our experts will verify your eligibility and complete the required documentation.
  3. We will request a Digital Signature Certificate (DSC) and GST Identification Number (GSTIN) for your business.
  4. We will submit the application for GST registration with the necessary documents.
  5. Our experts will help you apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
  6. Upon successful verification and processing of your application, the GST registration certificate will be issued along with your GSTIN, PAN, and TAN.
  7. We will guide you on opening a bank account for your business, which is necessary for GST compliance.
  8. Our experts will handle all necessary paperwork throughout the registration process, with your cooperation.
  9. We will keep you updated on the progress of your GST registration application.
  10. Once the registration process is complete, we will deliver the GST registration certificate and other relevant documents to you.

At LegalAspire, we strive to make the GST registration process seamless and hassle-free for our clients, ensuring they can focus on their core business activities. Contact us today to get your GST registration done quickly and effortlessly.

Understanding Goods and Services Tax (GST) in India

The Goods and Services Tax (GST) is a comprehensive indirect tax that has been in force in India since July 1, 2017. It has replaced multiple indirect taxes such as excise duty, VAT, and services tax. The GST applies to all Indian service providers, traders and manufacturers, including freelancers.

Under GST, a variety of Central and state taxes are accumulated, including Service Tax, Excise Duty, CST, Entertainment Tax, Luxury Tax, Octroi, and VAT. The tax is levied at each stage of the supply chain, including purchasing raw materials, manufacturing, selling to the wholesaler, selling to the retailer, and the final sale to the consumer. This ensures that the tax burden is shared among all parties involved in the production and distribution of goods and services.

Taxpayers with a turnover of less than ₹1.5 crore have the option to choose a composition scheme, which allows them to pay GST at a fixed rate of turnover and get rid of tedious GST formalities. However, it is important to note that GST registration becomes mandatory if a person or entity sells goods or services beyond a certain turnover.

It is interesting to note that under GST, if a product is produced in one state but is being consumed in another state, the entire revenue will go to the state of consumption. This makes GST a destination-based tax, which promotes the growth of the states where the goods and services are consumed.

In summary, GST is a significant step towards simplifying the taxation system in India. It has replaced multiple indirect taxes, making it easier for businesses to comply with tax laws. GST also ensures that the tax burden is shared among all parties involved in the production and distribution of goods and services, and promotes the growth of the states where the goods and services are consumed.

Penalty for Failing to Register for GST in India

As per the regulations laid out in the Goods and Services Tax (GST) Act, any individual or entity that exceeds the prescribed turnover limit or falls under the GST registration category due to any other reason must register for GST within 30 days. Failure to comply with this rule can attract a penalty of up to Rs. 10,000 along with the forfeiture of input tax credit for the period of delay. Therefore, it is crucial for businesses to obtain GST registration in a timely manner to avoid incurring unnecessary fines and losses. Don’t let your business suffer – ensure timely GST registration to stay compliant with the law and avoid penalties.

Who needs GST registration in India?

  1. Any individual or business entity that carries out taxable supplies of goods or services.
  2. Those whose annual turnover exceeds the prescribed threshold limit, which is currently ₹20 lakhs for most businesses.
  3. E-commerce operators that facilitate the supply of goods and services through their platform.
  4. Non-resident taxable persons who occasionally supply goods or services in India.
  5. Businesses that are involved in inter-state supply of goods or services.
  6. Input service distributors who distribute input tax credit to their branches or units.
  7. Casual taxable persons who supply goods or services occasionally in India.
  8. Businesses that were previously registered under the old tax regime (VAT, Service Tax, etc.) and have migrated to GST.
  9. In accordance with subsection (5) of Section 9 of the CGST Act, all individuals who are subject to taxation under the reverse charge mechanism must register for GST, regardless of their annual gross receipts.
  10. Individuals who, directly or indirectly, act as agents and make taxable supply on behalf of other taxable persons.
  11. Those who make supplies through an operator of electronic commerce who is required to collect tax at source under Section 52, but who do not make supplies covered by sub-section (5) of Section 9 or the supplies mentioned in the section.
  12. Individuals who, either as agents or otherwise, make taxable supplies of commodities, services, or both on behalf of other taxable individuals.

Frequently Asked Questions

Do I need to register for GST if my turnover is less than Rs. 40 lakhs?
Businesses with an annual turnover which exceeds Rs.20 lakh (Rs.40 lakh or Rs.10 lakh, as may vary depending upon state and kind of supplies) has to register for GST. This is beneficial for businesses looking to expand their operations or engage in inter-state transactions, as it allows them to claim an input tax credit (ITC) and simplifies taxation and compliance.
What happens if I do not register for GST?
Non-registration or delayed registration for GST can attract penalties and fines. Additionally, businesses may not be able to claim an input tax credit (ITC) on purchases if they are not registered for GST. It is advisable for companies to register for GST as soon as they become eligible to avoid any legal or financial repercussions.
Who needs to register under GST as a TDS ?
Tax Deducted at Source is referred to as TDS (TDS). All governments, government undertakings, local governments, and other designated organisations are required to register as TDSs under GST if they are making contractual payments to suppliers in excess of INR 2.5 lakhs. The concerned Governments, Government undertakings, Local Authorities, and other notified entities must withhold 1% under the CGST Act and 1% under the SGST Act; in the case of interstate transactions, 2% (under the IGST Act) of the total payable amount and remit it into the appropriate GST account when making such a payment over INR 2.5 lakhs under the GST regime. The suppliers will receive credit for such GST payments.
What are the benefits of GST registration?
Legitimacy and credibility in the eyes of customers and suppliers;
Eligibility to claim an input tax credit (ITC) on purchases;
Simplified taxation and compliance;
Access to various government schemes and benefits;
Expansion of business operations to other states.
What documents are required for GST registration?
PAN card of the applicant;
Aadhaar card of the applicant;
Proof of business registration (e.g. partnership deed, MOA, AOA);
Address proof of the place of business (e.g. rent agreement, electricity bill);
Bank account details;
Digital signature certificate (DSC) of the authorized signatory.
Who needs to register for GST?
Businesses with an annual turnover of Rs. 40 lakhs or more (Rs. 10 lakhs or more for North Eastern states) are required to register for GST. Additionally, certain businesses, such as those involved in inter-state supplies, e-commerce transactions, or required to deduct or collect tax at source, are also required to register for GST, regardless of their turnover.

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A JV is a very lucrative arrangement as it offers an enormous amount of benefits by which the parties to the JV could gain. The JV could be a beneficial arrangement in the following ways:

  • Leveraging of strength & resources available with both the parties;
  • Creating a platform to attain the business goals which are otherwise difficult or uneconomical to achieve independently;
  • Access to newer markets or segments;
  • Strengthen position in the existing markets;
  • Diversify into new businesses;
  • Gives competitive advantages;
  • Shares the risk or initial losses associated with a new business;
  • Allows the business to expand with a smaller amount of capital.

A JV can be structed in the following ways:-

1. Company

2. Partnership Firm

3. LLP

4. Strategic Alliance

No. This is not mandatory.

 

The parties to the J.V can contribute in the form of monetary capital, Plant & Machinery, technology, customers, know-how and experience, etc.


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