REGISTRATION
GST (Goods and Service Tax)
GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
The goods and services tax (GST) is an indirect federal sales tax that is applied to the cost of certain goods and services. The business adds the GST to the price of the product, and a customer who buys the product pays the sales price plus the GST. The GST portion is collected by the business or seller and forwarded to the government. It is also referred to as Value-Added Tax (VAT) in some countries.
Under the GST regime, the tax is levied at every point of sale. In the case of intra-state sales, Central GST and State GST are charged. Inter-state sales are chargeable to Integrated GST.
PTEC/PTRC
Professional Tax was introduced in the year 1949 via powers given to the States by the way of Clause (2) of Article 276 of The Constitution of India. It is levied on all the Income earned by the way of profession, trade, calling and employment. Professional Tax happens to be a source of revenue for the State Government and its collection helps them in implementing welfare schemes for the overall growth and development of the respective state.
Professional Tax – PTEC and PTRC:
The PTEC and PTRC are different certificates that are usually required by a business entity operating in India. PTEC stands for Professional Tax Enrollment Certificate and PTRC is Professional Tax Registration Certificate. PTEC permits to pay the professional tax of the business entity (Private Ltd, Public Ltd, OPC, etc) and also of the owner or professional (sole proprietor, partner, director, etc). Whereas, the function of a PTRC is to permit the employer (government or non-government) to deduct professional tax from the employee’s salary or wages and deposit the same to the respective state government. A fully functional business entity commonly requires both to conduct its business operations.
IEC (Import Export Code)
Import Export Code (also known as IEC) is a 10 digit identification number that is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It is also known as Importer Exporter Code. It is mandatory for companies and businesses to obtain this code to start a business that deals with import and export in the Indian Territory. It is not possible to deal with export or import business without this code.
MSME / Udyog Adhar
MSME remains for Micro, Small, Medium Enterprises and any venture that falls under any of these three classifications. MSME ventures are the foundation of any economy and are a motor of financial development, developing fair advancement for all. In this manner, to help and advance MSME enterprises by the Government of India through different sponsorships schemes and promote these companies through the MSMED Act. To profit the advantages under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required. Under MSMED act every MSME needs to get registered whether the business is service related or for manufacturing.MSME registration is a useful extract exclusion plot, impose endowments, control tax sponsorships, capital speculation appropriations, and others.
MPCB (Pollution Control Board)
Maharashtra Pollution Control Board (MPCB) is implementing various environmental legislations in the state of Maharashtra, mainly including Water (Prevention and Control of Pollution) Act, 1974, Air (Prevention and Control of Pollution) Act, 1981, Water (Cess) Act, 1977 and some of the provisions under Environmental (Protection) Act, 1986 and the rules framed there under like, Biomedical Waste (M&H) Rules, 1998, Hazardous Waste (M&H) Rules, 2000, Municipal Solid Waste Rules, 2000 etc. MPCB is functioning under the administrative control of Environment Department of Government of Maharashtra.
The Ministry of Environment, Forest and Climate Change (MoEFCC) had brought out notifications in 1989, with the purpose of prohibition/ restriction of operations of certain industries to protect ecologically sensitive Doon Valley. The notification introduced the concept of categorization of industries as " Red", "Orange" and "Green" (85 types of industrial sectors as "Red", 73 industrial sectors as "Orange" and 86 sectors as "Green") with the purpose of facilitating decisions related to location of these industries. Subsequently, the application of this concept was extended in other parts of the country not only for the purpose of location of industries, but also for the purpose of Consent management and formulation of norms related to surveillance / inspection of industries.
FSSAI (Food Licence)
The Food Safety and Standards Authority of India (FSSAI) has been established as an independent statutory body by the Food Safety and Standards Act, 2006, under the Ministry of Health and Family Welfare. FSSAI is responsible for the protection and promotion of public health in India through regulatory and supervisory mechanisms on food safety. This article focuses on procedures and guidelines dealing with Maharashtra FSSAI Registration.
The Food Safety and Standards Authority of India (FSSAI) is a legal authority that offers a food license to all food business operators (FBO) in India. All the FBOs must follow all the rules and regulations of FSSAI for food quality control. An FBO requires an FSSAI License or Registration all depends upon the parts like the size of production, managing nature of food business activities and range of operation. In the FSSAI Registration process, the FBO will get 14 digit numbers that needs to be printed on food packages. FSSAI Registration ensures the security of food products and it is essentially a food safety certificate circulated by the food authority in India.