#business under 1 lakh

[jitendraev10]

Jitendra Electric Vehicles Now Available on Amazon!

Great news for electric scooter lovers! Jitendra Electric Vehicles, recognized as the best electric scooter company in India, is now available on Amazon. Known for producing reliable, sustainable, and affordable electric scooters, Jitendra EV brings you top-notch performance and eco-friendly commuting solutions. Simply scan the code to explore our high-performance models and buy directly. Join the green revolution with the best in the market and ride smarter with Jitendra EV.

[newbusinessideas]

Top 10 Small Business Machines Under 1 Lakh

Starting a small manufacturing business can be an exciting venture, but it often requires the right machinery to get started. With technological advancements, numerous affordable machines are available that cater to various industries and production needs. However, for many entrepreneurs, budget constraints pose a significant challenge when it comes to investing in equipment. Thankfully, there…

[optikestrav]

Khada (standing) Parsi, Byculla

After over two years of tedious restoration work, the iconic 150-year-old “Khada Parsi” statue, a Grade I heritage monument in Mumbai, was unveiled on Friday in the presence of Shiv Sena chief Uddhav Thackarey.

The 40-feet tall, cast-iron monument has a statue of Seth Cursetjee Manockjee (1763-1845), a nineteenth century Parsi businessman-education reformer, perched atop a Corinthian pillar with sculptures of four mermaids surrounding the base.

Standing tall at the busy Byculla flyover junction, it is the only cast-iron statue in the city and according to project consulting architect, Pankaj Joshi, one of only two such statues in the world. “The other is the statue of Cires in Chile,” he said. The estimated cost of the project, which was undertaken by the Brihanmumbai Muncipal Corporation, was just under Rs 1 Crore and Rs 6 lakh would be spent annually for maintenance, Mr. Joshi said.

Built in the 1860s, the monument was commissioned by Cursetjee’s son youngest Manockjee Cursetjee as a tribute to his father, at a cost of Rs 1 lakh. The ornamental statue was in desperate need of attention as it had acquired a reddish-brown patina of dust and had numerous parts missing or stolen over the years.

The four-feet-tall lamps were stolen in the seventies and the fountain at the base of the Corinthian column had also almost disappeared. The lamps, which had gone missing, have been replaced and the fountain – water issues from the conches being blown by the mermaids – has been repaired. The mermaid water fountain at the base has been made up of black basalt rock brought from Rajasthan.

“The statue's base was below the ground when we started work and our main task was to integrate it with the adjoining landscape,” said Mr. Joshi. A glossy black monument will now greet passers-by. Over 400-odd pieces, which were lost from the original figure due to corrosion and impact damage, have been restored. The stones used for restoration were brought from Rajasthan, Mangalore and Nagpur.

TheHindu.com

photo: optikes (October 2024)

[colonelrajyavardhanrathore]

Rajasthan MSME Policy 2024: A New Era for Entrepreneurs by Col Rajyavardhan Rathore

In a landmark move to empower small businesses and foster economic growth, the Rajasthan MSME Policy 2024 has been introduced under the guidance of Colonel Rajyavardhan Rathore. This policy aims to position Rajasthan as a leader in the Micro, Small, and Medium Enterprises (MSME) sector by providing robust support, financial incentives, and a conducive ecosystem for entrepreneurs.

The Importance of MSMEs in Rajasthan

MSMEs are the backbone of Rajasthan’s economy, contributing significantly to employment and GDP. With their presence in sectors like handicrafts, textiles, agriculture, and technology, MSMEs have immense potential to drive growth and innovation. The Rajasthan MSME Policy 2024 seeks to address challenges faced by small businesses and unlock their full potential.

Vision of Col Rajyavardhan Rathore

Col Rajyavardhan Rathore envisions MSMEs as engines of Rajasthan’s economic progress. Speaking at the launch, he remarked: “MSMEs are not just businesses; they are dreams of hardworking individuals. This policy is a promise to support their aspirations and make Rajasthan a hub for entrepreneurial excellence.”

Key Objectives of the Rajasthan MSME Policy 2024

Economic Empowerment: Strengthen the MSME sector to boost Rajasthan’s GDP.

Employment Generation: Create sustainable jobs across urban and rural areas.

Ease of Doing Business: Simplify processes and remove bureaucratic hurdles.

Skill Development: Equip entrepreneurs and workers with the latest skills.

Sustainability: Promote green practices and energy-efficient solutions.

Highlights of the Rajasthan MSME Policy 2024

1. Financial Support

Subsidies and Incentives: Up to 50% subsidy on capital investment for new enterprises.

Low-Interest Loans: Special credit schemes through state-backed financial institutions.

Tax Exemptions: Relaxation in GST and other state taxes for a specified period.

2. Infrastructure Development

Industrial Clusters: Development of MSME-dedicated zones in key cities like Jaipur, Udaipur, and Jodhpur.

Common Facility Centers (CFCs): Shared spaces with advanced tools and technology.

Digital Infrastructure: High-speed internet and IT support for MSMEs.

3. Skill Training and Capacity Building

Partnerships with educational institutions to introduce MSME-focused courses.

Regular workshops on digital marketing, export readiness, and quality control.

Mentorship Programs with industry experts to guide budding entrepreneurs.

4. Streamlining Processes

Single-Window Clearance: Speedy approvals for setting up businesses.

Simplified Regulations: Reduction in compliance requirements for small enterprises.

Digital Portals: Online systems for registrations, tax filing, and grievance redressal.

5. Promoting Innovation

Research and Development Grants: Funding for MSMEs working on innovative products and solutions.

Technology Adoption: Subsidies for adopting automation and digital tools.

Startup Incubation Centers: Support for MSMEs transitioning into startups.

6. Export Promotion

Global Market Access: Partnerships with trade bodies for export opportunities.

Trade Fairs and Expos: Participation in national and international exhibitions.

Export Subsidies: Financial support for logistics and international marketing.

Sectors Targeted by the Policy

1. Handicrafts and Textiles

Strengthening Rajasthan’s traditional crafts through modern techniques and marketing support.

2. Agri-Based Industries

Encouraging food processing, organic farming, and value-added products.

3. Renewable Energy

Promoting MSMEs in solar panel manufacturing and other green technologies.

4. Technology and IT

Support for tech startups and MSMEs working in AI, software, and digital solutions.

Impact of the Rajasthan MSME Policy 2024

Economic Growth

An expected 30% rise in MSME contributions to the state GDP by 2026.

Increased revenue through exports and enhanced domestic production.

Job Creation

2 lakh new jobs to be created in urban and rural areas.

Empowerment of women and marginalized communities through focused programs.

Ease of Doing Business

Simplified processes to attract 5,000+ new MSME registrations annually.

Global Recognition

Enhanced visibility for Rajasthan’s MSMEs in international markets.

Col Rathore’s Commitment to MSMEs

Col Rajyavardhan Rathore has always championed policies that drive progress and innovation. His leadership in shaping the MSME Policy 2024 reflects his belief in the entrepreneurial spirit of Rajasthan.

In his words: “With this policy, we are not just supporting businesses; we are building dreams, livelihoods, and a prosperous Rajasthan.”

A Bright Future for MSMEs in Rajasthan

The Rajasthan MSME Policy 2024 is a game-changer for small businesses. By addressing key challenges and providing holistic support, it aims to transform the state into a hub of entrepreneurship and innovation. With Col Rajyavardhan Rathore’s vision and leadership, this policy is set to empower thousands of entrepreneurs and contribute significantly to Rajasthan’s economic growth.

[nikath-852]

The Largest Real Estate Investment Opportunity Prime Location in Tolichowki, HyderabadEver Offered by Heera Luxury City

Introduction

owning a piece of prime real estate in one of Hyderabad most sought-after locations at a discounted price. Heera Luxury City, a part of the esteemed Heera Group led by CEO Dr. Nowhera Shaik, is offering an unprecedented investment opportunity. This article delves into the details of this remarkable offer, the strategic advantages of the land, and why this is a golden chance for investors.

Heera Luxury City: The Best Land in Business

Prime Location in Tolichowki, Hyderabad

Heera Luxury City boasts a prime piece of land located in Tolichowki, Hyderabad. Known for its strategic positioning and high market value, this land is one of the most valuable real estate assets in the area. The current market rate for this land reaches up to Rs. 3.04 lakh per square yard, driven by high demand and its premium location.

Special Discount for Heera Group Family

In a generous move, Heera Group is offering this land to its family members at a significantly discounted price. The total valuation of the land is estimated at Rs. 753,77,14,200 (Rupees Seven Hundred Fifty-Three Crore Seventy-Seven Lakh Fourteen Thousand Two Hundred Only). This offer not only provides an excellent opportunity to own prime real estate at a reduced rate but also leverages the geographical advantage and future potential of investing in this area.

Secure Your Investment with Heera Luxury City

Transparent and Secure Transactions

Dr. Nowhera Shaik has set specific price ranges for purchasing lands in Tolichowki, Hyderabad, from a minimum of Rs. 5 lakh to a maximum of Rs. 5 crore. This pricing strategy is designed to protect buyers from fraud and safeguard their interests. Heera Luxury City has taken control of the selling process to ensure transparency and protect buyers' interests.

Exact Location and Connectivity

The property is located in Town Survey Nos. 12, 13, 14, & 15/1, Block M, Ward No. 13, Tolichowki, Hyderabad, Telangana – 500 008. This area is well-connected, approximately 1 kilometer from the Tolichowki junction and 0.8 kilometers from the road towards Golconda Fort. The site is situated on a proposed 80′ road leading to the 7 Tombs, offering ease of access.

Land Details and Potential

The total land area under consideration is 33,060.15 square yards (27,642.50 square meters). Classified as residential and urban, this land is suitable for various types of development. Although currently selected for non-residential use, it holds potential for future commercial and residential projects. Key documents such as Sale Deed No. 5479 of 2015, Demarcation Report, and various utility bills have been reviewed to ensure the land's legitimacy.

Valuation and Legal Considerations

Current Valuation

Based on Sale Deed No. 5479 of 2015 and current market rates, the valuation of Heera Group’s property is Rs. 75,37,71,420 as of August 26, 2024. However, the property’s realizable value is estimated at Rs. 67,83,94,2780 (Rs. 678.39 Crores), reflecting its high demand and prime location.

Steps for Successful Development

To ensure the successful development of the property, it is crucial to:

Verify the legal status

Conduct a physical survey

Obtain all necessary certifications

Buyers should check for any legal issues or encroachments, confirm land measurements, and ensure clear road access to avoid any problems.

Big Praising to Dr. Nowhera Shaik

Dr. Nowhera Shaik, CEO of the Heera Group, is the cornerstone of the Heera Group family. Her dedication to Heera Group investors, whom she treats like family, is the reason for her continuous efforts and success. Investors trust Dr. Nowhera Shaik to protect their interests and make their investments fruitful in the long term. Her strong reputation for caring about her investors’ success and well-being makes every investment with the Heera Group rewarding.

"Investors trust Dr. Nowhera Shaik to protect their interests and make their investments fruitful in the long term."

For more information, contact us at:

(+91) 92810 26273/69

(+91) 91360 02818

(+91) 91360 04247

Heera Group Back Office

Conclusion

Dr. Nowhera Shaik’s primary focus is to settle investors’ claims. To facilitate this, Tolichowki land plots are being sold at a reduced price. This discounted rate aims to ensure smooth transactions and effectively resolve claims. After the Supreme Court’s approval to settle the claims through the sale of the Tolichowki property, it is confirmed that there are no disputes or legal obstacles preventing the sale. This guarantees that the process will proceed without any issues or encroachments.

Investing in Heera Luxury City is not just about owning prime real estate; it’s about securing a prosperous future under the trusted leadership of Dr. Nowhera Shaik. Don’t miss out on this unparalleled opportunity to invest in one of Hyderabad’s most valuable properties.

[trending-makeupcourses]

Exploring the Cost Structure of Lakme Academy Makeup Courses

Do you intend to pursue a profession in wellness and beauty? If so, you may be aware of Lakme Academy Delhi. This esteemed college provides a range of programs that will give you the tools you need to succeed in this fast-paced field.An overview of the costs of attending Lakme Academy Delhi, including tuition fees, extra expenditures, and financial assistance alternatives, is given in this blog article. By making sure they are aware of the financial criteria for enrolling in the esteemed university, it seeks to assist people in making well-informed decisions about their future in the beauty and wellness business.

Lakme Academy for Makeup Courses

Makeup Course

Using professional-grade supplies and equipment, students enrolling in the Lakme Academy Delhi course receive hands-on training to hone their skills. In order to expand their portfolio and obtain real-world experience, they can also work on actual clients and photoshoots.

The Makeup Artistry Course at Lakme Academy has several benefits, one of which is its affiliation with the well-known beauty brand Lakme, which gives students access to the newest products, techniques, and trends in the business. Students now have the chance to work with Lakme on a variety of projects, fashion shows, and other events thanks to this cooperation.

The minimum cost of the cosmetics training may be increased, and some of its courses may also contain Lakme beautician course prices Delhi.

Advanced Makeup Course

The extensive Lakme Academy Delhi Advanced Makeup Course equips prospective makeup artists with the abilities and know-how required to succeed in the beauty business. This course explores advanced techniques, trends, and artistry in greater detail than it does the fundamentals. Advanced makeup application techniques, including high fashion, editorial, avant-garde, and bridal looks, are anticipated to be taught to students. In order to give students a solid foundation in makeup artistry, the course also covers topics including colour theory, skin tones, face shapes, and product expertise. Graduates of the Lakme Academy Advanced Makeup Course will have the knowledge and self-assurance to pursue a variety of career options in the cutthroat fields of fashion and beauty.

The lakme academy fees for makeup artist  course might vary depending on the course's type and length, from 60,000 to 1 lakh.

Bridal Makeup Course

Participating in Lakme Academy's Bridal Makeup Course offers several advantages, one of which is the practical instruction given by top professionals in the field. Pupils can hone their abilities on actual clients and obtain invaluable experience in a work environment that is professional. The course also stresses the value of communication and customer consulting skills, which are critical for establishing a prosperous career in the bridal cosmetics sector.

Students who successfully complete the course will earn a certification from Lakme Academy, which is renowned in the beauty industry for providing top-notch instruction. In addition to confirming the student's abilities and expertise, this certification makes it possible for them to work as freelance bridal makeup artists or in salons, spas, and bridal boutiques.

The lakme makeup course fees may reach 40,000, depending on factors including location, type, and length.

Scholarships and Financial Aid Options

Lakme Academy Delhi aims to assist students from a variety of backgrounds by providing financial aid and scholarships for its cosmetics training. Scholarships based on merit are given to students who demonstrate exceptional academic achievement, artistic flair, and a love of makeup. For the cost of a lakme makeup course, individuals in need of financial assistance might apply for grants, loans, or work-study programs. The academy gives scholarships to under-represented groups in the makeup industry as another way to encourage diversity and inclusion. For information on other lakme makeup course fees, prospective students can get in touch with the admissions office or apply for these scholarships on the academy's website.

Comparison of Costs with Other Makeup Schools

Lakme Academy Delhi offers a comprehensive curriculum taught by industry experts, owing to its premium tuition structure and access to Lakme goods. However, the addition of real-world training, hands-on experience, industry exposure, and opportunities for job placement enhances the course's value. Students can benefit from working on real projects, learning about the industry, networking with professionals, obtaining certification from a reputable company, and more. When assessing the lakme makeup course fees, growth potential, skill development, and job opportunities should all be considered. As a result, depending on your budget, you can check out the list of other Best Makeup Academies that we have included.

Top 4 Makeup Academies of Delhi

We've already talked about the costs of the Lakme Academy Delhi Makeup Course; at this point, you probably want to find the most prestigious makeup schools so you can start over in the beauty or cosmetics profession.

1.Meribindiya International Academy

2.Pearl Academy 

3.SMA International Makeup Academy 

4.Meenakshi Dutt Makeup Academy 

Conclusion

Students at Lakme Academy Delhi are prepared for professional success by the school's emphasis on business acumen, industry trends, and professional etiquette. Graduates are better equipped to navigate the market and forge successful careers because they have a deeper awareness of both the business and artistic aspects of makeup application.

The course's emphasis on practical training, where students may deal with actual clients and hone their artistic techniques, is one of its main advantages. The program covers a wide range of topics to ensure students are well-rounded and flexible makeup artists, from fundamental makeup application to sophisticated special effects.

[pkchopraco-blog]

Income Tax Audit in India

What is an Income Tax Audit? Imagine an independent assessment of your organization's tax returns. That's essentially what an Income Tax Audit in India is. A Chartered Accountant (CA) examines your income, deductions, and overall financial records to ensure everything aligns with the Income Tax Act. Think of it as a financial health check to maintain transparency and accuracy. Why is it Important? Tax audits ensure a level playing field for businesses and organizations. They promote honest accounting practices by: Verifying the accuracy of income and deductions: The CA confirms if your reported numbers match your actual financial activities. Encouraging proper record-keeping: Audits motivate businesses to maintain detailed records, improving their financial management. Preventing tax evasion: The audit process discourages any attempts to underreport income or overstate expenses. Who Needs an Income Tax Audit in India? Not everyone requires an audit. The rules are laid out in section 44AB of the Income Tax Act. Here's who needs to get their accounts audited: Businesses with a turnover exceeding Rs. 1 crore: If your business crosses this threshold, an annual audit is mandatory. Professionals with income above Rs. 50 lakhs: Doctors, lawyers, and other professionals earning more than Rs. 50 lakhs per year need an audit. Taxpayers opting out of presumptive taxation: If you choose not to use the simplified presumptive taxation scheme, an audit becomes necessary. Specific situations outlined in Sections 44AD, 44AE, and 44BBB: These sections involve calculating income based on estimates. If your actual income deviates significantly, an audit might be required. How Does it Work? Here's the basic flow of an Income Tax Audit in India: Hire a Chartered Accountant: Find a qualified CA experienced in tax audits. Provide necessary documents: Share your financial records, including invoices, bank statements, and accounting ledgers. The CA conducts the audit: They analyze your records, ask questions, and verify your information. Audit report submission: The CA submits a detailed report highlighting their findings and observations. You approve the report: Once you review and agree with the report, your CA electronically files it with the Income Tax Department. Penalties for Non-Compliance: Skipping an audit when mandated can lead to penalties. These can be a fixed amount (like Rs. 1,50,000) or a percentage of your turnover (capped at 0.5%). Don't let that happen! Remember: An Income Tax Audit in India is crucial for transparency and compliance. If you fall under the audit requirement, be proactive and start the process well in advance. Choosing a qualified and experienced CA ensures a smooth and efficient audit experience.

[ilam-india]

Top 5 High Paid Jobs after MBA in Aviation Management

Seeing a plane in the sky, a rush of pleasure used to wash over us as we waved at the tiny airplane and questioned what exploring the big skies is like! If you have constantly been inclined toward a profession in which you can jump greater toward the depths of the sky, then aviation is the enterprise you need to explore! These weblog goals to carry you a piece of complete information on what a profession in aviation entails. After completing an MBA in Aviation Management, you can pursue various high-paying roles within the aviation and aerospace industry. Here are the top five high-paid jobs:

5. Aviation Operations Manager The Aviation Operations Manager does the interview and hiring of potential staff and crew. He/she makes the schedule for all flights, including the schedules of the pilots, flight attendants, and crew. Airline operations managers also oversee the modification to the airports where their aircraft are to land. If we talk about salary, the Airport Operations Manager's salary in India ranges between ₹8.5 Lakhs to ₹25 Lakhs with an average annual salary of ₹15 Lakhs. Salary estimation is based on the conversation with ILAM-DIT University Dehradun Placement Specialists.

4. Director of Airport Operations The Airport Operations Director is responsible for negotiations, budgeting, and purchasing. Job duties include growing long-term operational techniques and overseeing changes to airport facilities. The Airport Director works under the administrative direction of the County Administrator and acts as a supervisor to various classifications and oversight of contracted operations. The average salary for Airport Operations Director is ₹15 Lakhs to ₹27 Lakhs as per experts from Universities like Sushant University, Gurgaon, and JIMS Rohini, New Delhi.

3. Aviation Project Manager The Aviation Project Manager plans organize and direct the completion of specific projects while ensuring they are on time, on budget, and within scope. Examples of projects include the construction of airport facilities and passenger terminal enhancements. The average salary for Aviation Project Manager is ₹18 Lakhs to ₹35 Lakhs as per experts from Zee Himgiri University, Dehradun.

2. Aviation Business Consultant The Aviation Business Consultant analyzes organizational practices, identifies weaknesses, and recommends solutions. Aviation consultants work with clients on a daily basis and help clients to meet goals and objectives relating to everything from the technical to financial areas of doing business, and beyond. The national average salary for an Aviation Consultant is ₹ 82,36,310 in India.

1. Chief Operations Officer (COO) The Chief Operations Officer (COO) oversees an airline business’s day-to-day administrative and operational functions. The person in this role reports to the chief executive officer (CEO) and is second in command. The national average salary for a Chief Operations Officer is ₹4,00,00,000 in India.

[renukamd]

Coimbatore's Trusted GST Registration Experts

Coimbatore, known as the Manchester of South India, is a thriving hub of commerce and industry. With a strong presence in textile, manufacturing, and IT industries, businesses in Coimbatore are integral to the economic landscape of Tamil Nadu. Understanding the process of GST Registration in Coimbatore is crucial for companies to facilitate smooth operations and compliance with tax laws.

What is GST?

GST is a unified, multi-stage, destination-based tax levied on every value addition. It has replaced many indirect taxes previously imposed by the central and state governments, thereby simplifying the tax structure and fostering a common national market.

Who Needs GST Registration?

Businesses with a Turnover Exceeding Threshold Limits: Any business whose aggregate turnover exceeds ₹40 lakhs (₹20 lakhs for particular category states) in a financial year is required to register for GST.

Interstate Suppliers: Businesses involved in supplying goods and services across state borders need to register, regardless of turnover.

E-commerce Operators: Platforms facilitating the supply of goods and services also need to be registered.

Casual Taxable Persons: Individuals who supply goods or services occasionally.

Voluntary Registration: Businesses can also voluntarily register under GST to avail of the benefits.

Benefits of GST Registration

Legitimacy to Business: GST registration gives your business a legal identity as a supplier of goods or services.

Input Tax Credit: Registered businesses can claim Input Tax Credit on purchases, reducing the overall tax burden.

Competitive Advantage: Being GST-compliant can enhance your business reputation and widen your customer base.

Ease of Interstate Sales: GST registration simplifies the process of selling goods and services across state borders.

GST Registration Process in Coimbatore

Step 1: Gather Required Documents

Before initiating the registration process, ensure you have the following documents:

PAN Card of the business or applicant.

Proof of Business Registration or Incorporation Certificate.

Identity and Address Proof of Promoters/Directors with photographs.

Address Proof of the place of business.

Bank Account Statement/Canceled Cheque.

Digital Signature (required for companies and LLPs).

Letter of Authorization or Board Resolution for authorised signatory.

Step 2: Visit the GST Portal

Go to the GST official portal at www.gst.gov.in.

Step 3: Fill the Application Form

Part A: Please provide basic details such as your PAN, mobile number, and email address. An OTP will then be sent for verification.

Part B: Use the received Temporary Reference Number (TRN) to fill out the application. Provide details of the business, promoters, and authorised signatory, along with the place of business and goods/services to be supplied.

Step 4: Upload Documents

Upload the necessary documents as mentioned above in the specified formats.

Step 5: Verification and ARN Generation

Once the application is submitted, the GST officers will verify it. If everything is in order, an Application Reference Number (ARN) will be generated. You can use the ARN to track the status of your application.

Step 6: GSTIN Allotment

Upon successful verification, a GSTIN (Goods and Services Tax Identification Number) will be issued, and you will be notified via email and SMS. You can then download the GST registration certificate from the GST portal.

Conclusion

GST Registration in Coimbatore is a vital step for businesses aiming for growth and compliance. It not only legitimises your business but also offers numerous benefits, including tax credits and simplified tax filing processes. By following the outlined steps and maintaining compliance, businesses can contribute to a streamlined and efficient tax system in India.

[dmds001]

A Comprehensive Guide to the GST Registration Process

GST registration process is an important milestone in India for business. It marks a crucial juncture under the Goods and Services Tax, or GST framework, that unifies a variety of indirect taxes. It has thus brought down a plethora of indirect taxes in a unified form all over the country. Therefore, be you an aspiring entrepreneur or a successful businessman, understanding this process becomes crucial.

This guide discusses the concept, importance, and process of GST registration and how training programs like Taxation, Tally, and GST Courses in Kolkata can enhance your financial acumen.

What is GST Registration?

GST registration is the process that recognizes a business as a taxable entity under the GST regime. It is mandatory for:

All businesses with more than ₹20 lakhs per annum turnover if the same turnover exceeds ₹10 lakhs per annum for any special category of states.

Inter-state supply

E-commerce businesses

Casual taxable person and non-resident taxable persons under GST

Aggrieved party in reverse charge mechanism

For GST registration after the completion, a GST identification number is received by the concern business and permits to collect taxes, input credit and return through GST. This article discusses reasons why GST is an important phenomenon.

Why Is GST Registration Required?

Here are the major reasons why registering for GST is important:

Legal Recognition: That business will be recognized as a legal supplier of goods or services.

Input Tax Credit: Will make the claiming of input tax credits possible without any hassle, with consequent reduction in tax.

Competitive Advantage: That compliance gains credibility with customers and partners.

Operational Ease: It helps to make interstate trading easy and also supports e-commerce. Failure to register when required can result in heavy penalties and legal repercussions, making compliance non-negotiable.

Step-by-Step Guide to GST Registration

Step 1: Prepare Required Documents Gather the following documents before initiating the registration:

PAN card of the business or proprietor.

Business registration proof (e.g., partnership deed, incorporation certificate).

Address proof of business premises (e.g., utility bill, rental agreement).

Bank account details (cancelled cheque, bank statement).

Proof of identity and address of the authorized signatory (Aadhaar, passport).

Digital signature for companies and LLPs (Class 2 or Class 3).

Step 2: Log on to the GST Portal

Go to the official GST portal at www.gst.gov.in and click on Services > Registration > New Registration.

Step 3: Fill Part A of the Application

Provide details such as:

Legal name and PAN of the business.

Email and mobile number for OTP verification.

A Temporary Reference Number (TRN) will be generated and sent through email and SMS.

Step 4: Log in Using TRN

Login with the TRN to fill up Part B of the application, which contains:

Business details such as trade name, type, and date of commencement.

Head and branch/branches. Details of goods or services supplied. Authorized signatory details.

Step 5: Upload Necessary Documents Ensuring scanned copies of all the documents are clean and correct will avoid delay in processing.

Step 6: Verification and Submission Submit application through EVC or digital signature.

Step 7: Processing of Application The application will be vetted by GST officials. After approval, they will give a GSTIN and a copy of the registration certificate. In case of any discrepancies, clarification will be sought.

An Accounting course in Kolkata also Beneficial.

Common Challenges in GST Registration

Despite how easy the process is, some common areas of common challenges are found as:

Incorrect or incomplete documents.

Key entry errors.

Slowly verification process. To overcome these challenges, consider enrolling in specialized courses like GST or a Taxation Courses in Kolkata, which provide comprehensive insights into GST compliance and related practices.

Tips for a Hassle-Free GST Registration

Ensure Document Accuracy: Double-check all details and ensure consistency.

Maintain Clear Records: Accurate records simplify compliance and audits.

Contact a tax consultant or GST consultant for some professional guidance.

Make the Best Use of Technology: Make use of Tally, thereby automating GST procedures. Take up a course in Tally and become proficient in using the tool.

Conclusion

Understanding the GST registration process is very important for any business that operates within the GST framework of India. Thorough preparation and resource utilization, such as professional training courses, will ensure smooth compliance and avoid pitfalls.

[franchiseavs]

Brown Burger Franchise Opportunity: Success is Tasty!

We find that the food industry in India is upgrading with every passing day, as it seeks healthy yet tasty alternatives to the usually devoured fast food of daily lives. 

Here comes Brown Burger Co, which has managed to revolutionize the fast-food industry with its unique multigrain burgers and healthy snacks.

 Brown Burger Co is offering an exciting franchise opportunity to young entrepreneurs who would like to join the quest for offering healthier, still delectable fast food options without sacrificing taste.

If you’re looking to make a mark in the thriving food industry, here’s why Brown Burger Co is the perfect franchise opportunity for you.

About Brown Burger Co

Brown Burger Co is India’s first and favorite multigrain burger brand. 

Their mission is to reinvent fast food by providing healthier alternatives that satisfy taste buds and nutritional needs. 

The brand boasts the usage of high-quality ingredients like multigrain bread, honey oats, and wheat, making for a scrumptious menu that health-conscious foodies won’t be able to get enough of.

Why Choose the Brown Burger Franchise?

1. Unique and Healthy Recipes

Brown Burger Co brings a breath of fresh air to fast food; great taste is combined with nutritional value. Their burgers use freshly baked multigrain bread for healthier fast food.

2. Low Investment, High Returns

The franchise model is designed to ensure maximum profitability with minimal investment. 

The compact setup will help entrepreneurs begin their journey and enjoy high returns on investment.

3. National and International Expansion

The brand is rapidly expanding across India and is now looking at an international market as well. 

By getting a franchisee of Brown Burger Co, one can reap benefits from an established and growing brand.

4. Fresh Concept, Low Competition

With a unique and healthy concept, Brown Burger Co has minimum competition in the market. 

The innovative approach of fast food by the company will give the franchisees an edge in competition and chances of success.    5. Thorough Support and Training

From setup to operations, staffing, audits, and marketing, franchisees get end-to-end support and training. 

The years of experience of the brand in the food service industry ensure that new outlets are set up for success.

Franchise Cost and Business Model

The compact model of the Brown Burger franchise requires:-

Minimum Area: 700 sq. ft. — 

Setup Cost: ₹25 Lakhs

Franchise Fee: ₹7 Lakhs

Marketing Support: ₹50,000 for six months 

Royalty: 6% of sales

With low investment, quick returns, it is an extremely lucrative opportunity for any aspiring entrepreneur. 

Furthermore, the “One Kitchen, Multiple Brands” enables the franchisees to run more than one brand under one flag, which adds on to maximum revenue.

Healthy, Wholesome, and Profitable

The demand for healthy food options is rising, and Brown Burger Co has tapped into this trend with its fresh, multigrain burger concept. 

By investing in this franchise, you’ll be part of a brand that is setting new benchmarks in the fast-food industry.

Join the Brown Burger Co Family

A good prospect for individuals trying to make entry into the food industry using an already-tested model and broad network of assistance exists in The Brown Burger Co, with little investments and enormous gains and also by its peculiarness concept.

Do not miss this opportunity to be a part of India’s fastest-growing multigrain burger chain. 

Reach Brown Burger Co today at +91 92054 34226 and begin your journey to a successful outlet.

[makers-muse]

A Guide to setting up and maintaining an Atal Tinkering Lab 

A Guide to setting up and maintaining an Atal Tinkering Lab 

Imagine a space where young innovators can turn their ideas into reality, explore cutting-edge technology, and solve real-world problems. An Atal Tinkering Lab (ATL) offers precisely this a platform for students to engage in hands-on learning and foster creativity. Whether you’re a school leader or an educator, setting up and maintaining an ATL can transform your educational environment. This guide will help you navigate the process effectively. 

What Is an Atal Tinkering Lab? 

Atal Tinkering Labs are innovation workspaces established under the Atal Innovation Mission by the Government of India. These labs aim to cultivate curiosity and problem-solving among students aged 12–18 by providing access to advanced tools like 3D printers, robotics kits, and IoT devices. 

Why Set Up an ATL? 

Promotes Experiential Learning: Students learn by doing, not just memorizing. 

Encourages Innovation: A space to develop groundbreaking ideas and projects. 

Prepares for Future Careers: Exposure to STEM fields and technological skills. 

Steps to Set Up an Atal Tinkering Lab 

1. Apply for ATL Grants 

Schools affiliated with CBSE, ICSE, or state boards can apply for funding through the Atal Innovation Mission. Grants of up to ₹20 lakhs are provided, covering lab setup and operational expenses for five years. 

2. Design the Space 

Select a Location: Choose a spacious, well-lit area (minimum 1,500 sq. ft.). 

Plan the Layout: Divide the lab into sections for ideation, experimentation, and prototyping. 

Foster Collaboration: Use open seating, whiteboards, and project displays to encourage teamwork. 

3. Procure Equipment 

The lab must have tools and technologies such as: 

Basic Kits: Screwdrivers, pliers, and soldering tools. 

Robotics and Electronics: Arduino, Raspberry Pi, and robotics kits. 

3D Printing: Printers and modeling software. 

Internet of Things (IoT): Sensors, microcontrollers, and IoT modules. 

Make sure all equipment aligns with the guidelines provided by AIM. 

4. Recruit Mentors and Trainers 

Involve Experts: Collaborate with local engineers, educators, and entrepreneurs. 

Train Teachers: Conduct workshops to equip educators with ATL methodologies. 

5. Engage Students 

Workshops and Competitions: Organize regular sessions to introduce students to ATL tools. 

Innovation Challenges: Host hackathons or themed competitions to inspire creativity. 

Maintaining an ATL 

1. Regular Equipment Upkeep 

Inspect tools and machines periodically. 

Replace damaged or outdated equipment promptly. 

2. Monitor Usage 

Maintain logs of student projects and equipment usage. 

Encourage responsible handling of tools. 

3. Continuous Training 

Organize refresher workshops for teachers and mentors. 

Stay updated with the latest technology trends. 

4. Promote Community Engagement 

Partner with local organizations for sponsorships or mentorship. 

Showcase student projects in exhibitions and online platforms. 

Success Stories 

Smart Irrigation System: A student group designed a system to monitor soil moisture and automate irrigation, benefiting local farmers. 

Disaster Alert App: A team developed an app that sends alerts during floods, earning recognition at a national level. 

Challenges and How to Overcome Them 

Funding Limitations 

Seek additional sponsorships from local businesses or alumni networks. 

Low Participation 

Introduce ATL activities into the regular curriculum to boost student involvement. 

Skill Gaps in Teachers 

Partner with ed-tech companies for training programs. 

Start building your Atal Tinkering Lab today! 

Are you ready to revolutionize education with an Atal Tinkering Lab? Start today and empower students to innovate, create, and solve real-world challenges. Together, let’s build a future where learning knows no boundaries. 

Transform your school into a hub of innovation Speak to an Expert Now! 

[news365timesindia]

[ad_1] The Confederation of Real Estate Developers’ Associations of India (CREDAI) Gandhinagar will organise the Tri-City Property Fest, showcasing the finest real estate opportunities across the booming tri-city region of Gandhinagar, Ahmedabad and GIFT City, on January 10, 11 and 12.   CREDAI Gandhinagar to organise Tri-City Property Fest from January 10 to 12   The event will feature over 120+ projects by 65 top developers under one roof, offering unparalleled choices for prospective homebuyers and investors. The fest also offers several exciting attractions, including on-the-spot home loan approvals, instant offers with discounts of up to Rs. 1 lakh, and an hourly prize draw. Moreover, visitors can participate in the mega lucky draw and explore a dedicated stall for unsold inventory, making it a golden opportunity for buyers.   Pravin Patel, Chairman of CREDAI Gandhinagar, said, “The tri-city region encompassing Gandhinagar, Ahmedabad and GIFT City is one of the fastest-growing regions in the country due to limitless business opportunities and the influx of migrants. The Tri-City Property Fest is the perfect destination to showcase and witness the region's best and most promising real estate offerings. Developers can connect with a large number of buyers, who in turn, can explore a variety of real estate projects suited to their budget and requirement.”   Spread over 8,650 sq. mt space, the Tri-City Property Fest is expected to attract over 30,000 visitors, reflecting the growing interest in the region, a rapidly emerging hotspot for real estate, driven by robust infrastructure, a thriving business ecosystem and fast-track connectivity. The venue boasts parking space for more than 1,000 cars and close to 450 two-wheelers.   Gandhinagar, the administrative hub, boasts a growth trajectory fuelled by projects like the 80-metre Ring Road, the new Knowledge Corridor, Sabarmati Riverfront Phase 2, and inflow of investments in various emerging sectors like semiconductors, AI, Biotechnology, and more. The improved connectivity between Gandhinagar and Ahmedabad due to the Metro Rail project is also expected to boot the real estate market in the state capital.   GIFT City, home to India’s only International Financial Services Centre (IFSC), has emerged as an investment magnet unlike any other, attracting some of the biggest global corporations and financial institutions. Ahmedabad, with its cosmopolitan culture and growing urban infrastructure like Metro Rail and BRTS, and the largest real estate market in Gujarat, perfectly complements Gandhinagar and GIFT City.   “The Property Fest will highlight the tri-city region’s transformation into India’s fastest-growing real estate market. With enhanced connectivity, world-class infrastructure and a booming economy, the region is the ideal location for home buyers and prospective investors. This is the right time to invest in the property market of the region and benefit from its immense growth,” said Jashu Patel, President of CREDAI Gandhinagar.   The Tri-City Property Fest will showcase a range of properties across the residential and commercial segment, catering to different budgets. Seven banks are also taking part in the property fest, ensuring on-the-spot approvals for interested buyers. Five companies from allied sectors are also participating. The fest will take place near PDEU Metro Circle in Gandhinagar from January 10 to 12. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window,document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '311356416665414'); fbq('track', 'PageView'); [ad_2] Source link

[news365times]

[ad_1] The Confederation of Real Estate Developers’ Associations of India (CREDAI) Gandhinagar will organise the Tri-City Property Fest, showcasing the finest real estate opportunities across the booming tri-city region of Gandhinagar, Ahmedabad and GIFT City, on January 10, 11 and 12.   CREDAI Gandhinagar to organise Tri-City Property Fest from January 10 to 12   The event will feature over 120+ projects by 65 top developers under one roof, offering unparalleled choices for prospective homebuyers and investors. The fest also offers several exciting attractions, including on-the-spot home loan approvals, instant offers with discounts of up to Rs. 1 lakh, and an hourly prize draw. Moreover, visitors can participate in the mega lucky draw and explore a dedicated stall for unsold inventory, making it a golden opportunity for buyers.   Pravin Patel, Chairman of CREDAI Gandhinagar, said, “The tri-city region encompassing Gandhinagar, Ahmedabad and GIFT City is one of the fastest-growing regions in the country due to limitless business opportunities and the influx of migrants. The Tri-City Property Fest is the perfect destination to showcase and witness the region's best and most promising real estate offerings. Developers can connect with a large number of buyers, who in turn, can explore a variety of real estate projects suited to their budget and requirement.”   Spread over 8,650 sq. mt space, the Tri-City Property Fest is expected to attract over 30,000 visitors, reflecting the growing interest in the region, a rapidly emerging hotspot for real estate, driven by robust infrastructure, a thriving business ecosystem and fast-track connectivity. The venue boasts parking space for more than 1,000 cars and close to 450 two-wheelers.   Gandhinagar, the administrative hub, boasts a growth trajectory fuelled by projects like the 80-metre Ring Road, the new Knowledge Corridor, Sabarmati Riverfront Phase 2, and inflow of investments in various emerging sectors like semiconductors, AI, Biotechnology, and more. The improved connectivity between Gandhinagar and Ahmedabad due to the Metro Rail project is also expected to boot the real estate market in the state capital.   GIFT City, home to India’s only International Financial Services Centre (IFSC), has emerged as an investment magnet unlike any other, attracting some of the biggest global corporations and financial institutions. Ahmedabad, with its cosmopolitan culture and growing urban infrastructure like Metro Rail and BRTS, and the largest real estate market in Gujarat, perfectly complements Gandhinagar and GIFT City.   “The Property Fest will highlight the tri-city region’s transformation into India’s fastest-growing real estate market. With enhanced connectivity, world-class infrastructure and a booming economy, the region is the ideal location for home buyers and prospective investors. This is the right time to invest in the property market of the region and benefit from its immense growth,” said Jashu Patel, President of CREDAI Gandhinagar.   The Tri-City Property Fest will showcase a range of properties across the residential and commercial segment, catering to different budgets. Seven banks are also taking part in the property fest, ensuring on-the-spot approvals for interested buyers. Five companies from allied sectors are also participating. The fest will take place near PDEU Metro Circle in Gandhinagar from January 10 to 12. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window,document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '311356416665414'); fbq('track', 'PageView'); [ad_2] Source link

[bizpriest-company]

fssai registration in lucknow

Food Safety and Standards Authority of India (FSSAI) registration is essential for food businesses to ensure safety and compliance with food standards. In Lucknow, a city known for its rich culinary heritage, obtaining FSSAI registration is vital for running food-related businesses like restaurants, food manufacturers, distributors, and home-based food operators.

Why FSSAI Registration is Important

FSSAI registration certifies that the food products meet quality standards and are safe for consumption. It helps businesses build consumer trust, avoid legal penalties, and enhance market credibility. Whether starting a small food stall or managing a large food production unit, this registration is mandatory under the Food Safety and Standards Act, 2006.

Who Needs FSSAI Registration?

FSSAI registration is categorised based on the size and nature of the food business:

Basic Registration: For small businesses or startups with an annual turnover of up to ₹12 lakhs.

State License: For medium-sized businesses with a turnover between ₹12 lakhs and ₹20 crores.

Central License: For larger enterprises with operations in multiple states or turnover above ₹20 crores.

Steps for FSSAI Registration in Lucknow

Determine the Type of License: Identify whether your business needsa Basic Registration, State License, or Central License based on its scale and turnover.

Gather Required Documents: Prepare documents such as:

ID proof and address proof of the proprietor.

Passport-size photographs.

Business address proof.

Food category details and production capacity (if applicable).

Submit the Application: Apply online through the FSSAI website or consult an FSSAI consultant in Lucknow for assistance.

Inspection and Approval: After application submission, the FSSAI authority may inspect your premises before approval.

Receive FSSAI Certificate: Once approved, you will receive your FSSAI certificate with a unique 14-digit registration number.

Validity and Renewal

FSSAI registration is valid for 1 to 5 years, based on the tenure chosen during application. It is crucial to renew the license before it expires to avoid penalties.

Benefits of FSSAI Registration

Ensures food safety and hygiene compliance.

Enhances customer confidence in your brand.

Facilitates legal protection for your business.

Opens avenues for business expansion and partnerships.

Why Choose FSSAI Consultants in Lucknow?

Navigating the registration process can sometimes be complex. Professional FSSAI consultants in Lucknow can guide you through documentation, application, and compliance requirements, ensuring a seamless experience.

In conclusion, obtaining an FSSAI registration is a critical step for any food business in Lucknow. It not only ensures compliance with food safety laws but also helps in building a trustworthy brand in the competitive food industry.

[gstservices]

All About GST Composition Scheme: A Quick Overview 

  The Goods and Services Tax (GST) is all-inclusive taxing system reform in India which has the goal to streamline the taxes in the country. Out of all the different schemes it offered to its taxpayers, the GST Composition Scheme is one of the biggest respites for small taxpayers. Go for it if you need a simple means to align with GST requirements because this scheme makes it possible. This blog will provide you with a step by step explanation on what you must know about the GST Composition Scheme. 

  What is the GST Composition Scheme?  The Goods and Services Tax (GST) Composition Scheme is one of the measures taken by the Indian Government under the GST structure to bring ease to the small taxpayers. As a GST registration threshold for businesses up to an annual turnover of ₹1.5 crore (75 lakh for certain special category states), the scheme provides quarterly pay at a simpler, fixed tax rate of 1% of turnover for traders and manufacturer, 5% for restaurants, excluding home delivery of FOC meals and room service meals, and 6% of turnover up to ₹50 lakh for service providers, eliminating most complex mathematical computation and record Concerning filing of returns, they file quarterly returns under this scheme, known as GSTR-4, making compliant even easier. Nevertheless, the entities registered under the composition scheme cannot claim input tax credit and cannot do B2B supply across the states or supply through E-Commerce Portal. The scheme is ideal to small manufacturers, traders and restaurant business people where they are now sure of their tax liability and also they have to make minimal compliance to start with enabling them to exploit their businesses without necessarily having to spend a lot of time struggling with complex legislation. However, while being advantageous the scheme has some drawbacks like the restrictions for certain types of goods or services and impossibility to recover the input tax credit, thus the scheme is better to use for companies that work primarily within the state. 

GST Composition Scheme eligibility criteria which are follow:  

To qualify for the composition scheme under GST, businesses must meet specific criteria: •  

Turnover Limit: The scheme is usable for entities having an aggregate turnover of upto ₹1.5 crore in most of states and ₹75 lakh in special category states like Uttarakhand and 7 North Eastern states. 

Business Type: It is so impersonal as to apply to manufacturers, traders and restaurants except those dealing in liquors. The scheme can also be availed by service providers who come under a special category provided the annual turnover of the provider does not exceed ₹50 lakh.  

Nature of Supplies: Supplies made by businesses within the same state are only allowed, which rules out interstate commerce supplies. Inter-state suppliers and the e-commerce operators are not part of the system.  

Exclusion of Certain Goods: Companies in the possibility of producing, selling, and distributing products like ice cream, pan masala, or tobacco products are barred from registering under the scheme.  

Voluntary Registration: The scheme is however voluntary and one has to make an application to be registered under the contemplated scheme.  

Compliance with GST Laws: The taxpayer must have no unpaid GST amounts, or any registered non-compliance within the last six months. Advantages of GST Composition Scheme  

Lower Tax Rates: The businesses that fall under the scheme get to pay taxes at a standardized lower percentage; 1% for manufacturers and traders, 5% for restaurants (excluding alcohol sales), and 6% for eligible service providers to lighten the tax burden.  

Simplified Compliance: The scheme makes it easier for small businesses to manage their taxes since there are fewer returns to fill, fewer records to keep, and fewer returns are to be filed; quarterly returns (GSTR-4).  

Predictable Tax Liability: Such structure makes it easier for the businesses to plan for their expenses and cash flows and this reduces the chances of a business being surprised by large taxes to be paid. 

Focus on Business Growth: Since input tax credits and specific reports are simplified, businesspersons can manage their enterprises more effectively and focus on development plans.  

Cost-Effective: The scheme has low compliance costs under the technical production process; professional fees and administrative costs are low, attracting the small enterprises.  

Enhanced Liquidity: As compared to businesses, they cannot claim input tax credit which means they do not attempt to block their money in GST credits, making it easier for them to manage cash flows. 

GST Composition Scheme Turnover Limit 

The current turnover limit under GST Composition Scheme The turnover limit has been fixed at ₹1.5 crore for most of the states and ₹75 lakh for the special category states for availing the GST Composition Scheme. There is also a turnover threshold to guarantee that only small business operates under the scheme and avails itself of easier compliance and reduced Tax rates. Small enterprises with a turnover of less than ₹1,280,000 can register for the scheme to reduce tax rates, which stands at 1% for manufacturers and traders and 5% for restaurants. The scheme also reduces the filing burden by making it mandatory for businesses to file only quarterly returns for a sum of Rs 10,000 and above, in the form of GSTR-4. Although businesses under the Composition Scheme cannot file input tax credit and do not engage in inter-state transactions and therefore not very complicated for businesses that are not very large or operational in multiple states.  

Merits and Demerits of the GST Composition Scheme 

Merits of the GST Composition Scheme:  

1. Lower Tax Rates: Low taxation — 1% of the turnover for manufacturers and traders, 5% for restaurants making it cheap for small businesses.  

2. Simplified Compliance: Quarterly return only needs to be filed in GSTR-4, thereby eliminating much paper work and efforts required in compliance.  

3. Reduced Administrative Burden: For computing input tax credit, there is no requirement to maintain detailed records: Reduction of compliance burden for small businesses.  

4. Lower GST Liability: They enjoy taxes by turnover which results to small taxes to be paid and free cash flows. 

Demerits of the GST Composition Scheme: 

1. No Input Tax Credit (ITC): Purchases cannot attract any ITC meaning that organizational costs are bound to rise.  

2. Limitations on Inter-State Sales: Interstate supplies cannot be made by businesses this limits the market scope. 

3. Eligibility Restrictions: They are eligible only up to a turnover of ₹1.5 crore although for special category states it is ₹75 lakh.  

4. Not for Certain Sectors: The scheme available for Electricity Metering Services is not suitable to the establishments that offer services (other than restaurants) or operates through an internet-based sale platform.  

Common Terms Associated with the GST Composition Scheme 

Turnover Limit: The maximum level of turnover recognised for business to qualify for the scheme in a particular year. It is ₹ 1.5 crore for other States and ₹ 75 lakh in respect of Uttarakhand and 7 North Eastern   

Taxable Person: This is a trader or manufacturer who is either a GST registered entity and is registered under Composition Scheme depending on the turnover.  

GSTR-4: The TAX GERN01 that each business under the Composition Scheme submits quarterly to declare its tax obligations and turnover.  

Input Tax Credit (ITC): The credit businesses receive on the tax on inputs that they make. But under the Composition Scheme one cannot avail the input tax credit on purchases made by the business.  

Inter-State Supply: The exchange of goods or services from one state to another. Some of the conditions include the fact that the businesses under the Composition Scheme cannot make cross-state supplies (only for exports or to units in SEZs).  

Flat Tax Rate: A fixed ratio of turnover that the businesses under the scheme pay as tax and is less than the normal GST rates.  

GSTIN: The GSTIN which every trader and manufacturer must acquire for being registered under the GST and to be made eligible for availing the composition scheme.  

Composition Taxpayer: One of the business who choose to pay tax at a lower rate and file simple returns under the Composition Scheme.  

Reverse Charge Mechanism (RCM): A system where by the buyer of goods or services is expected to pay for the tax as opposed to the seller. This is not mostly possible to implement for companies under the Composition Scheme. 

Exempted Goods: Exempted goods and the products that are not under the ambit of the Composition Scheme, for instance, the horticulture produce.  

How to Register for the GST Composition Scheme? 

Registration for the composition scheme in GST can be done through the GST portal: 

Log in to the GST Portal: 

Visit the official GST portal: www.gst.gov.in 

Use your existing GSTIN and login credentials to access the portal. 

 Navigate to 'Services' > 'Registration' > 'Application for Registration': 

Go to the ‘Services’ tab, then select ‘Registration’, and click on ‘Application for Registration’. 

If you already have a GST registration, you can modify it to opt for the Composition Scheme. 

Select 'GST Composition Scheme' Option: 

On the application form, select the option to apply for the GST Composition Scheme. 

Provide the necessary details about your business, including turnover, type of business, and tax liability. 

Submit the Application: 

Complete the form and submit it for approval. The GST portal will verify your details and may ask for additional information. 

GST Composition Scheme Approval: 

Once your application is approved, you will receive an acknowledgment and confirmation of your enrollment in the scheme. 

After approval, you will be assigned a GST Composition Scheme certificate. 

File GST Returns: 

After registration, you must file quarterly returns (GSTR-4) instead of monthly returns, reporting your turnover and tax liabilities. 

This process ensures that eligible businesses can avail of the simplified tax system, reducing their compliance burden. Be mindful to recheck eligibility criteria and submit necessary documents as required. 

Examples of Businesses That Can Opt for This Scheme 

Small Retailers like grocery stores and clothing shops with turnover below ₹1.5 crore (₹75 lakh for special states). 

Manufacturers such as small-scale producers of textiles, furniture, or food products. 

Wholesalers like distributors of electronics or clothing to retailers. 

Restaurants and Food Service Providers with a turnover under the limit. 

Local Traders dealing in goods like stationery, toys, or handicrafts. 

Artisans producing handmade or craft items like pottery or jewelry  

Conclusion 

The GST Composition Scheme is a great way for small businesses to simplify their tax processes and reduce their tax burden. Whether you're a retailer, restaurant owner, or dealer, this scheme can help you stay GST-compliant with less effort. However, it’s important to consider both the benefits and limitations before signing up. 

For more information on how the GST Composition Scheme can help your business, check out resources like the GST council UPSC guidelines and GST bare act. 

The Legal Dost is here to assist you in understanding GST and guiding you through the best choices for your business.