Registration query

This query is : Open

ASHOK (Querist)
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27 June 2014 Dear All,

We are planning to start a partnership firm in surat gujrat india and our main business is to sale textile products (readymade garment purchase and then sale + manufacture and then sale)through our website and we receive order and payment through our website and after it we delivered the goods to buyer which can be located in india or outside india.

Please suggest us what are the legal formalties and registration required to sale our product like PAN,TAN,VAT etc....

And my second question is whether we should take IEC(IMPORTER EXPORTER CODE)bacause we sale goods outside of india also if order received.

Can we apply for SSI also.

PLEASE GUIDE US....

THANKS IN ADVANCE

CA Mayank Ogrivala

CA Mayank Ogrivala (Expert)
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07 July 2014 Dear Ashokbhai,

1) Prepare a formal “PARTNERSHIP DEED”.
2) Apply for a PAN Card
3) Apply for a TAN no. ( Please take care that firm have to deduct TDS on certain transaction like if you are paying commission, salary, rent etc) ( if you are dealing with website like snapdeal, you have to deduct TDS on the commission you are giving to them)
4) Apply for a Registration of Partnership to “ Registrar of Firms ( ROF)” ( Although this is not compulsory but it is useful as a business proof at the time of opening bank account. And the same is most advisable if you are doing partnership with other than family person. Because if the firm is not registered, you can not file suit against your partner for fraud or you can not file a case against your creditor too.)
5) Open a Bank Account
6) As you are dealing with the readymade garments, you have to take a VAT registration. You are selling goods outside Gujarat too so you will require CST registration. Upto turnover of Rs. 5,00,000/- there will be no need to take registration under VAT.
7) You can apply for SSI.

ASHOK

ASHOK (Querist)
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23 July 2014 Thanks Mayankbhai,

Please suggest us for IEC also.....and please tell us the benefit for SSI Certificate

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