Every business in India is governed by state or centre-specific regulations. To legally operate any business in India, it is mandatory to obtain Licenses and Registrations and to comply with all applicable Establishment & Employment laws.
Trade License comes under the jurisdiction of the State Municipal Corporation of the area where the business is situated. The license does not allow the holder to carry out any other trade or business other than for it is issued. The mode of procuring and statutory fees differs from State to State.
This Registration is obtained from the State labour office and applies to all the shops, establishments and commercial establishments and is hence mandatory to be procured by all the businesses. The mode of procuring and statutory fees differs from State to State.
This registration is a prerequisite for the businesses dealing in exporting from and importing to India. The import and Export Code is issued by the Directorate General of Foreign Trade (DGFT) and is an Income Tax PAN-based registration. Hence only one Import Export Code (IEC) can be obtained against one PAN.
The supply of goods and services in India triggers the requirement to obtain GST registration. Upon successful registration, the business is allotted a 15-digit unique number called GSTIN by the Central government.
There are plenty of other Industry specific licenses and registrations to be obtained and established laws to be complied with.
Apart from the Establishment related licenses and registrations, there are employment-related legislations that have been enacted to safeguard and promote the interest of labour covering several aspects such as fair wages, regular payments, working conditions, holidays, leaves, safety and health, conditions of work, labour welfare, social security, industrial relations, protection of interest of women and child labour, labour indebtedness, recruitment and training, etc.
The Minimum Wages Act, 1948, Payment of Wages Act, 1936, Equal Remuneration Act, 1976, The Maternity Benefit Act, 1961, The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, The Payment of Gratuity Act, 1972, The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, The Employee State Insurance Act, 1948, The Payment of Bonus Act, 1965, The Contract Labour (Regulation and Abolition) Act, 1970, Equal Remuneration Act, 1976 are the acts generally applicable to organizations.
Our team at SimplyBiz can understand your business activity, identify the licenses/registrations and employment laws applicable to the business, undertake applications and procure them from the concerned departments/authorities. Our team has the experience of undertaking Licenses & Registrations for some of the most reputed food and garment chains. We have also assisted various clients in the service sector. As ongoing support, we also undertake filing of periodical returns and maintenance of registers, timely renewals of such licenses and registrations on a PAN India basis. Our team is well equipped in conducting an audit, assisting and managing the inspection of records by department, adjudication & compounding thereof.
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