Register your Trademark

In today’s competitive world, once protective the identity of a business is extremely robust, it’s terribly crucial to shield distinctive identity of your business and your rights. to tell apart a business from others, Trademark, Patents and Copyrights ar used. However, employing a trademark doesn’t offer you exclusive rights over it unless you register the trademark below the Trade Marks Act, 1999. Trademark may be a de jure perceptible mark, like word, logo, device, symbol, or label. anyone (natural or artificial) will apply for a Trademark registration, together with a Body company, Company, Association of individuals, Individual, Startups, little Enterprises, proprietary Concern and lots of additional. it’s a particular character which supplies its owner exclusive rights of usage and additionally safeguards the mark from others.
You can apply for trademark registration below each on-line and off-line modes. There ar forty five classes below that a trademark is registered. These classes represent the kind of business that a trademark are registered. For the whole registration of your trademark, the Trademark department provides United States of America with the subsequent varied statuses:

• Formality Check Process: Once AN application for trademark registration is filed, all the documents hooked up to that ar 1st cross examined.
• Marked for Exam: once the formalities ar passed, the applying is marked for examination wherever the registrar checks on the similarities and different discrepancies arising among some relevant/alike registered marks.
• Objection: once scrutinizing the trade mark application, objections could also be raised by the Registrar/Examiner below Sections nine and eleven of the Trade Marks Act, specializing in the descriptive goods/generic/laudatory/indicating quality or nature of products and identical/similar trade mark in respect of identical/similar goods/services already on record within the Trade Mark written record.
  Advertised before Acceptance: once the mark is however not accepted by the department however isn’t having any objection in advertising it within the journal.
• Accepted & Advertised: this can be shown once the mark is each accepted by the department and publicized  within the journal.
  Abandoned: once the reply for the examination report or any objection report isn’t stuffed inside the time given, then the applying shall be termed as Abandoned.
• Opposition: If anyone is already mistreatment the similar Trademark, he could file AN opposition letter. Registrar shall issue notice of hearing and each the parties shall gift their case.
• Registered: once all the objections and needs ar consummated, then the mark is registered.
• Withdrawal: once the soul wilfully withdraws the applying stuffed.

In best situation, a trademark gets registered in 8-12 months. the amount could get extended supported the criticalities concerned and objections raised against the trademark.

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What is GSTR-9?

Hello, during this post we’ll discuss all relating to GSTR-9 or the GST annual come back. Meaning, differing kinds, maturity and GSTR nine format or the main points. Also, we’ve got given a downloadable PDF of GSTR- nine format. scan the complete post to understand additional.
Meaning of GSTR nine
GSTR nine is that the annual come back. it’s a compilation come back which has all business transactions in dire straits the actual twelvemonth. GSTR-9 consists of details regarding the provides created and received throughout the year below totally different tax heads i.e., CGST, SGST, and IGST. It consolidates the data equipped within the monthly/quarterly returns throughout the actual year.
GSTR-9 maturity
The maturity to file the GSTR-9 is thirty first Dec of the preceding year. as an example, thirty first December 2018 for the FY 2017-18.
Frequently Asked queries on GSTR-9
1. that type to be filed PAN or GSTN wise?
GSTN wise i.e., on an individual basis for every GSTN.
2. What if your GSTN is Cancelled?
Even if your GSTN is off, say throughout FY 2017-18, taxpayers area unit needed to file GSTR-9.
3. WHO cannot file GSTR-9?
Below is that the list of WHO cannot file GSTR-9:

• Composition Dealers
• Input Service Distributors
• Tax Deductor
• Tax Collector
• Casual ratable person
• Non-resident ratable person

4. that type Composition Dealer must file?
Composition dealer must file GSTR-9A.
5. What if opted out or in Composition Dealer throughout the year?
If you have got opted out or in Composition Dealer throughout the year, the payer must file GSTR-9 and GSTR- 9A for the relevant periods.
6. Is it necessary to file goose egg Return?
Yes, it’s necessary to file goose egg come back.
7. what’s a 0 return?
Nil come back are often filed for the twelvemonth if you have got not: –

• made any outward offer (commonly called a sale)
• Received any product / services (also usually called a purchase)
• Have no alternative liability to report
• Claimed any person any refund
• Received any order making demand

8. that type to file if you have got the turnover higher than Rs. 2 crores?
You need to file GSTR-9C once filing GSTR-9.
9. will GSTR-9 be filed if the payer has not filed GSTR-1 and GSTR-3B?
GSTR-9 can’t be filed unless GSTR-3B and GSTR-1 area unit filed.
10. will GSTR-9 be revised?
No, presently GSTR-9 doesn’t enable any revision once filing.
11. Implication of cant in GSTR nine filed?
Incorrect information will attract tax demands, interest and penalties on identical and also the long-run litigations that follow years later.
12. will extra liability be paid?
Liability known throughout the filing of annual come back are often deposited with Government exploitation DRC-03 type (i.e., Liability not earlier paid through GSTR-3B)
13. can the extra liability be auto-calculated within the Form?
No, liabilities must be self-calculated and additionally self-deposited (Except Late filing fees of GSTR-9)
14. will extra ITC be claimed?
ITC that isn’t claimed in GSTR-3B can’t be claimed in GSTR-9. Also, identical must be claimed in GSTR-3B upto the extended timeline for claiming input credit.

Benefits of Filing Income Tax Return (ITR)

Income Tax Return is a document an individual is required to file with the Income Tax Department on a yearly basis. However, it is not mandatory for everyone to file the Return. If your income in the previous year is above the basic exemption limit of INR 2,50,000 (Rupees Two Lakh Fifty Thousand only), then you are required to file the Income Tax Return compulsorily.

Even though it is not mandatory for some persons to file the Income Tax Return, one should file it every year as there are many benefits of filing it.

Here are some of the major benefits of filing Income Tax Return:
Loans and credits:
In order to urge a loan, one ought to have the revenue enhancement Returns for the last 3 years. All banks and loaning establishments elicit a minimum of 3 years of revenue enhancement Returns to grant a loan to a personal.  At the time of process application, banks and loaning establishments check the declared financial gain and supply to verify the repaying capability of the individual seeking a loan. They use revenue enhancement Returns to verify an equivalent.

In case you’re seeking a private loan, a home equity loan, or a auto loan, it’s essential for you to file revenue enhancement come. If you frequently file revenue enhancement come, you’ll get a loan from any bank or financial organization terribly simply. Even the banks like allotting credit cards to perons United Nations agency file regular revenue enhancement Returns.

Easy to say your TDS:
TDS suggests that Tax subtracted at supply. it’s a Tax subtracted from your financial gain by the person paying the earnings or creating the other payment on that TDS is applicable. The deductor whereas creating the payment deducts the tax quantity and pays it to the revenue enhancement department directly on your behalf.

You may get the tax quantity therefore subtracted by filing revenue enhancement come. If there’s no revenue enhancement quantity collectible at the time of filing the revenue enhancement come, the entire TDS quantity are refunded.

If you’re operating as Associate in Nursing worker in a very company and earning but Rs two.5 100000 a year, you’ll claim your TDS from the Tax department. just in case you’re a man of affairs and need your TDS to urge back in your account, it’s necessary to file Associate in Nursing ITR once a year.

For going out of country
In order to use for a VISA to go to any country, you would like to possess revenue enhancement Returns. whereas giving VISA, embassies officers check the financial gain proofs and address proofs of a personal. Thus, revenue enhancement Returns ar checked by the officers to verify the financial gain and address. Therefore, if you’re going to go abroad, you want to get your revenue enhancement come filed instantly.

From the twelvemonth 2017-18, revenue enhancement come of a previous year will be filed within the same assessment year solely. when the top of the assessment year, the revenue enhancement come of the previous year can’t be filed.

Required for big insurance cover:
If you would like to use for Associate in Nursing insurance cowl of over INR fifty,00,000 (Rupees Fifty 100000 only), the insurance firms elicit revenue enhancement come. The annual financial gain and tax returns facilitate insurers to work out the precise premium quantity and security quantity. Most of the days, revenue enhancement come may be a necessary document for getting Associate in Nursing insurance cowl.

Helps in capital punishment money transactions:
Income Tax come is needed just in case of capital punishment some money transactions. Transactions or payments for house, car, mutual funds etc need revenue enhancement Returns. Some payments for giant investments conjointly would like revenue enhancement Returns.

Address proof:
Income Tax come works as Associate in Nursing address proof in several government organisations and agencies. you’ll use it as Associate in Nursing Address proof in situ of inaccessibility of different documents.

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What is GSTR-9?

Hello, during this post we’ll discuss all relating to GSTR-9 or the GST annual come back. Meaning, differing kinds, maturity and GSTR nine format or the main points. Also, we’ve got given a downloadable PDF of GSTR- nine format. scan the complete post to understand additional.

Meaning of GSTR nine
GSTR nine is that the annual come back. it’s a compilation come back which has all business transactions in dire straits the actual twelvemonth. GSTR-9 consists of details regarding the provides created and received throughout the year below totally different tax heads i.e., CGST, SGST, and IGST. It consolidates the data equipped within the monthly/quarterly returns throughout the actual year.

GSTR-9 maturity
The maturity to file the GSTR-9 is thirty first Dec of the preceding year. as an example, thirty first December 2018 for the FY 2017-18.

Frequently Asked queries on GSTR-9
1. that type to be filed PAN or GSTN wise?
GSTN wise i.e., on an individual basis for every GSTN.

2. What if your GSTN is Cancelled?
Even if your GSTN is off, say throughout FY 2017-18, taxpayers area unit needed to file GSTR-9.

3. WHO cannot file GSTR-9?

Below is that the list of WHO cannot file GSTR-9:

• Composition Dealers
• Input Service Distributors
• Tax Deductor
• Tax Collector
• Casual ratable person
• Non-resident ratable person

4. that type Composition Dealer must file?
Composition dealer must file GSTR-9A.

5. What if opted out or in Composition Dealer throughout the year?
If you have got opted out or in Composition Dealer throughout the year, the payer must file GSTR-9 and GSTR- 9A for the relevant periods.

6. Is it necessary to file goose egg Return?
Yes, it’s necessary to file goose egg come back.

7. what’s a 0 return?
Nil come back are often filed for the twelvemonth if you have got not: –

• made any outward offer (commonly called a sale)
• Received any product / services (also usually called a purchase)
• Have no alternative liability to report
• Claimed any person any refund
• Received any order making demand

8. that type to file if you have got the turnover higher than Rs. 2 crores?
You need to file GSTR-9C once filing GSTR-9.

9. will GSTR-9 be filed if the payer has not filed GSTR-1 and GSTR-3B?
GSTR-9 can’t be filed unless GSTR-3B and GSTR-1 area unit filed.

10. will GSTR-9 be revised?
No, presently GSTR-9 doesn’t enable any revision once filing.

11. Implication of cant in GSTR nine filed?
Incorrect information will attract tax demands, interest and penalties on identical and also the long-run litigations that follow years later.

12. will extra liability be paid?
Liability known throughout the filing of annual come back are often deposited with Government exploitation DRC-03 type (i.e., Liability not earlier paid through GSTR-3B)

13. can the extra liability be auto-calculated within the Form?
No, liabilities must be self-calculated and additionally self-deposited (Except Late filing fees of GSTR-9)

14. will extra ITC be claimed?
ITC that isn’t claimed in GSTR-3B can’t be claimed in GSTR-9. Also, identical must be claimed in GSTR-3B upto the extended timeline for claiming input credit.

GSTR 9

How Easy It Is To Do Business In India 2019?

A whooping numbers of more than three hundred thousand corporations being registered in india from 2016. Sounds stunning and wonderful, however this is often right and attainable solely owing to the amendment within the norms, rules and laws in incorporating a corporation by the Ministry of corporate Affairs.

Prior to 2016 beginning your business in India wasn’t that easy and it would take a protracted time to include your company. The name approval method itself would take anyplace between 5-15 days. additionally to order your name previous would need filling a kind known as INC-1 and there was a demand to fill a substantial of fifteen vital fields. This has been jury-rigged by substitution the INC-1 kind with a straightforward internet service which needs solely three relevant fields to be stuffed.
This itself could be a nice saving on the timelines of obtaining the registration done. Next vital reform taken is that the all new integrated E-Form SPICe. Before this manner had been introduced, from name approval to company incorporation to DIN Registration everything was done individually, however with the SPICe E-Form applying of name, Company Incorporation, DIN of the administrators, PAN and TAN are often integrated at the same time.

So we are able to say that the procedures are simplified to create the incorporation higher and easier.
Also currently the corporate seal isn’t necessary that is eliminated as per the corporate (Amendment) Act 2015.
The next step taken towards the convenience of doing business is that the fee structure concerned. there’ll be no fees for filing SPICe kind, flightless bird and AOA in 2 cases:

• Suppose your licensed capital is upto ten hundred thousand and if the corporate additionally includes a share capital
• Secondly, once the members within the company ar upto twenty and also the company doesn’t have share capital.

So briefly i might wish to capture {the major|the main|the most vital|the key|the foremost} changes that have improved the whole company registration process: (4 important reasons)

• The number of days reduced in obtaining the name approval done
• Five procedures as well as name approval, Company Incorporation, DIN of the administrators, PAN and TAN integrated at the same time with E-Form SPICe
• Zero price concerned for filing SPICe, flightless bird and AOA in terms of share capital, licensed capital and range of members
• Company seal isn’t necessary.

This little bit of info is extremely vital to understand, particularly for entrepreneurs WHO have already set to induce there company incorporated. tho’ at an exact purpose of your time it’s easier to approach the specialists for obtaining the corporate registered still to possess associate degree insight into the timelines and price concerned certainly procedures is extremely vital.
Without a corporation registration you can’t begin a business could be a well-known truth, however you must even be well-known concerning what all is concerned in an exceedingly company registration. Usually, solely company registration method takes roughly anyplace between 10-15 days provided correct documents ar submitted.

The process involves; Name Approval, drafting of flightless bird and AOA beneath the certification of knowledgeable comptroller or Company Secretary, Director number (DIN), Digital Signature Certificate (DSC), Company PAN and TAN and at last your incorporation certificate.
Hope this web log has created it clear that these days beginning or doing a business in {india|India|Republic of Bharat|Bharat|Asian country|Asian nation} is created abundant easier and easier to encourage a lot of range of start-ups within the creating of latest India with innovative ideas and additionally to run a business de jure.

Chartered accountant in India

Increase in Threshold limit of Turnover for Composition Levy

Government had increase threshold limit of Turnover for Composition levy from Rs.1 Cr to 1.5 Cr wide notification no.‐14/2019‐Central Tax dated 7th March, 2019. This notification will come into effect from 1st April, 2019.Now, any person having turnover up to Rs. 1.5 Cr. Can opt for paying GST under composition Scheme. Let us discuss provisions related to registration under composition scheme under GST.

What is Composition Scheme? Who can opt for Composition scheme?
A registered person under GST regime, if his aggregate Turnover does not exceed Rs.1.5 Cr.* in
preceding Financial year may opt to pay tax in lieu of tax payable by him under normal registration, a fixed amount of tax calculated on the basis of turnover. Basically this benefit is for small taxpayer who can avoid tax formalities by paying a tax at fixed rate of turnover.

*Earlier this threshold limit was Rs.1.5 crore which has been raised wide notification no.‐14/2019‐ central tax dated 7th March, 2019 which will be effective from 1st April, 2019.
But the threshold limit for registered person in the following states shall be Rs.75 Lakhs:‐

1. Arunachal Pradesh,
2. Manipur,
3. Meghalaya,
4. Mizoram,
5. Nagaland,
6. Sikkim,
7. Tripura,
8. Uttarakhand

Who cannot opt for Registration under composition Levy scheme?

• Manufacturer of ice cream, pan masala, or tobacco
• A person making inter‐state supplies
• A casual taxable person or a non‐resident taxable person
• Businesses which supply goods through an e‐commerce operator

Is service provider eligible for Registering under Composition Scheme?
Earlier Service provider was not eligible for registration under Composition scheme, but as per
Notification No. 02/2019‐central tax dated 29th January, 2019 CGST(Amendment) Act,2018 which was effective from 1st of February,2019 Composition taxpayers are allowed to supply services (other than restaurant services) ,for

• up to a value of exceeding 10% of turnover in preceding Financial year or
• Rs. 5 Lakh,
  whichever is higher.

For any query Click here.

CHARTERED ACCOUNTANT IN DELHI

Clarification regarding transfer of Input Tax credit in case of “Death of sole proprietor

A registered Taxpayer can apply for transfer of Matched Input tax credit that is available in the Electronic credit ledger of taxpayer to another business/another registered taxpayer in case of transfer of business by way of merger/demerger/sale of business by filling of ITC declaration in FORM GST ITC‐02.

But some doubts had been raised about the transfer of credit specially in the case of death of Sole Proprietor for which clarification has been asked, which are as follows:‐
1. Whether transfer of business due to “Death of Sole Proprietor” includes in the meaning of “transfer of business” for the sake of transfer of unutilized Input Tax credit to transferee of business.
2. Further clarification has also been sought for procedure regarding filling of Form GST ITC‐02 in case of death of the Sole proprietor.
Government has issued Clarification through Circular No.‐96/15/2019‐GST on 28th of March, 2019.
Clarification for Point‐1:‐Transfer of Business due to “Death of Sole Proprietor” includes in the reason for Transfer of business for the sake of transfer of unutilized Input Tax credit to transferee of business?

Clause (a) of Subsection 1 of Section 29 provides the reason for transfer of business which includes:‐

1. Death of Proprietor,
2. Amalgamated with Other legal entity,
3. demerged or
4. Otherwise disposed off

As mentioned above Reason for Transfer of business clearly includes “Death of Sole proprietor”. Therefore, Unutilized Matched Input tax Credit of Registered Taxpayer can be transferred to another registered entity for the reason of “Death of Sole Proprietor”.
Conditions to be fulfilled for the transfer of Input tax credit to another registered entity due to change in ownership of business:‐

• In case of registered person undergoes sale, merger, de‐merger, Amalgamation, Lease or transfer, the institution or organization, must file an ITC declaration for transfer of ITC in Form GST ITC‐02
• The Transferor institution had matched the Unutilized amount of ITC in Electronic credit ledger
• The Transferee and Transferor both should be Registered Taxpayer under GST
• Transferor Must file all the GST returns of past periods
• All the pending transactions for the action of merging should either be accepted, rejected or modified and all liabilities of the returns filed by the transferor must be paid
• The transfer of business has to be with an accurate provision of transfer of liabilities which will be the stayed demands of tax, or with any litigation /recovery cases. It has to be accompanied by the certificate that is issued by the Chartered Accountant or Cost Accountant

Clarification for Point 2:‐Procedure for filling Form GST ITC‐02 in case of “Death of Sole Prioprietor”
`In case of death of sole proprietor, if the business is continued by any other person being the transferee/Successor, the unutilized ITC amount remains in the electronic credit ledger shall be transferred to the transferee as per the provisions and manner stated below:‐

• Registration of Transferor/Successor: ‐
  Transferor/Successor shall be liable to be registered with effect from the date of such transfer or Succession, where a business is transferred to another person for any reasons including death of proprietor. In other word while filling the Form GST REG‐1 electronically on common portal (http://www.gst.gov.in) the applicant is required to mention the reason to obtain registration as “death of the proprietor”.
• Cancellation of registration on account of death of proprietor:‐The legal heirs of the deceased sole proprietor is allowed to file FORM GST REG‐16(form for cancellation of registration) electronically on common portal on account of transfer of Business for reason of death of proprietor. While filling FORM GST REG‐16 following need to be mentioned
• – reason for cancellation as Death of the proprietor
• – The GSTIN of the transferee to whom the business has been transferred, to link the GSTIN of the transferee with The GSTIN of theTransferor
• Transfer of Input Tax credit along with the liability:‐ It is clarified in the circular that the transferee / successor shall be liable to pay any tax, interest or any penalty due from the transferor in cases of transfer of business due to death of sole proprietor.
• Manner of Transfer of Credit: In case of Transfer of business on account of “Death of Sole Proprietor” Following will be the procedure:‐
  1. The transferee / successor shall file FORM GST ITC‐02 in respect of the registration which is required to be cancelled on account of death of the sole proprietor
  2. FORM GST ITC‐02 is required to be filed by the transferee/successor before filing the application for cancellation of such registration
  3. Upon acceptance by the transferee / successor, the un‐utilized input tax credit specified in FORM GST ITC‐02 shall be credited to his electronic credit ledger.

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CHARTERED ACCOUNTANT IN INDIA | ACCOUNTING SERVICES IN DELHI