Starting a new bussiness

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 October 2011 hi,

I m Puneet SOnker, my brother has started a new business of domestic manufacturing of T-shirt, Shirt. For this, he is taking order in Indian Base Exporters and Buying Houses. My question is, in the starting of a new business what are the legal formalities, any registraion in any departments, etc. My brother's concern is proprietorship. pls advise me.

Thanks
Puneet

CA. Nitin Agrawal

CA. Nitin Agrawal (Expert)
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03 October 2011 Dear Mr. Puneet

One must surely ensure about the legal formalities and requirements before commencing a new business. Because there ignorance might be result in big loss and adverse impact on business.

Anyway you must take care of following suggestive:

1. Regn. with Shop & establishment Act,
Sales Tax Dept, Excise, Service Tax(if
applicable), Custom Dep't(if applicable)

2. Have a PAN card.
3. Have export & Import License(if require)
4. P.O Agreement with Buyers
5. Check the legal documents whether the
buyer is having legal export and import
license or not as they will sell your
products.

Hope you got the idea and solution to your query.