GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.
For society registration, a minimum of 7 or more persons are required who can be Indian residents, companies, foreigners, as well as other registered societies. However, it is not mandatory to apply for society registration but there are numerous benefits to society registration. Society registration is governed by the Society Registration Act, 1860 which is done with the state government. An application for society registration is filed with the specific state authority where the registered office of society is situated. Before applying for society registration with the registrar, the establishing members must agree with the name of society after that the Memorandum of Association is finalized. Memorandum of Association of society describes the Rules & Regulations of the society.
As per Section 20 of the Society Registration Act, 1860 following are eligible to apply for society registration:
1. Charitable Societies
2. The military orphan funds or societies established at the several presidencies of India
3. Societies established for
A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.
Elements of Partnership Firm
There are five essential elements of a partnership firm. They are:
- Contract for Partnership
- Membership limited to 20 people
- Pursuit of business
- Sharing of profits
- Mutual agency in a Partnership
A Non Government Organization is registered as a Trust under Indian Trust Act 1882. It takes a time period of 15-20 days approximately for the registration of Trust from the date of filing of the application. Minimum 3 members are needed in the formation of trust. For ngo registration in Deharadun, one needs to supply one member from Deharadun with Aadhar Card along with one address proof either electrical power expense or water costs of any authorized location in Delhi. Rest 2 members can be from any part of India. At the time of registration, 2 photos and address evidences of all the members are required. Voter id card, ticket, driving license or aadhar card can be sent as an address proof. Further, at the time of
Co-Operative Society Registration
To protect the interest of weaker sections, the co-operative society is formed. It is a voluntary association of persons, whose motive is the welfare of the members.
As it is a voluntary association, the membership is also voluntary. A person is free to join a cooperative society, and can also leave anytime as per his desire. Irrespective of their religion, gender & caste, membership is open to all.
It is compulsory for the co-operative society to get registration. The co-operative society is a separate legal identity to the society.
It does not get affected by the entry or exit of its members.
There is limited liability of the members of co-operative society. Liability is limited to the extent of the amount contributed by members as capital.