MP FINANCIAL SOLUTIONS

The Goods and Service Tax came into effect on 1st July 2017. The main aim of the act was to simplify the indirect tax procedure prevailing in India. In the GST Regime, businesses which exceeds its aggregate turnover 40 Lakhs in Manufacturing or Trading or both and 20 Lakhs turnover in Service sector must take GST Registration in India except J&K, Himachal Pradesh and Uttarakhand where turnover is limited to 10 Lakhs.
GST registration usually takes between 7-14 working days.

1. Persons registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
2. Businesses with turnover 40 Lakhs in Manufacturing or Trading or both and 20 Lakhs turnover in Service sector must take GST Registration in India except J&K, Himachal Pradesh and Uttarakhand where turnover is limited to 10 Lakhs.
3. Casual taxable person / Non-Resident taxable person
4. Agents of a supplier & Input service distributor
5. Those paying tax under the reverse charge mechanism
6. Person who supplies via e-commerce aggregator
7. Every e-commerce aggregator
8. Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

1. PAN of the Applicant Individual ( for Company & Firm all directors & partners PAN is Required)
2. PAN of Company/Firm ( Only for Company & Firm)
3. Aadhaar card( of Proprietor, Partners or Directors)
4. Proof of business registration or Incorporation certificate or Partnership Deed( only for company or partnership)
5. Identity and Address proof of Promoters/Director with Photographs.
6. Address proof of the place of business (Recent Building Tax Receipt & Rental Agreement)
7. Bank Account statement/Cancelled cheque or sealed Bank passbook with photo.
8. Digital Signature ( only for Company)
9. Letter of Authorization/Board Resolution for Authorized Signatory( only for company or firm)
10. NOC if the building is owned by spouse or parents.
11. Valid E Mail Id and a Mobile Number (For GST department communication purpose)

A sole proprietor business is a type of business carried on by a single individual. The ownership of the same lies with a single person and hence he is called as the proprietor of the business. In India Sole Proprietorship can be considered as the most commonly accepted form of business. Proprietorships are very easy to start and have very minimal regulatory compliance requirement for starting and operating. So, it’s ideal for small businesses and first-time Entrepreneurs who would like to get a taste for business.

A partnership firm is an organization which is formed with two or more persons to run a business with a view to earn profit. Each member of such a group is known as partner and collectively known as partnership firm. These firms are governed by the Indian Partnership Act, 1932.

1. Stamp Duty Rs 1,000/- in India except (Kerala its 5000/-) (State Government Charges)
2. Registration Charges Will be Rs 500/- to Rs 2,000/- in different States. (State Government Fees)
3. Partnership Seal from Rs 150/- to 1500/-
4. PAN Card Cost Rs 107/- (Central Government Charges)
5. TAN Card Cost Rs 67/- (Central Government Charges)
6. MSME Registration Government charges - Nil.
7. GST Registration Government charges - Nil.
8. IE Code Registration Government charges Rs 500/- (Central Government Charges)
9. Trade Mark Registration Rs 4,500/- For MSME Registered Firms & Rs 9,000/- for Non MSME Registered firms. (Central Government Charges).Stamp Duty vary from Rs 100/- to 500/- depending on state policies.

Under the Pradhan Mantri MUDRA Yojana scheme (PMMY), the Government of India has designed MUDRA loans to help small business owners in the country and help them to meet capital expenses as well as operating costs. The maximum amount that can be borrowed through this loan is Rs.10 lakh. We team Complete Accounting Solution can help your new business & existing business to get MUDRA loan from banks at a lower interest rate. We do analyses and prepares business plans by including Promoters profile, Company profile, Product profile, feasibility study & will also suggest our clients about the profitability of the project. Our Project will also include Estimation statement, Ratio Analysis, SWOT Analysis, MUDRA loan repayment Schedule and some effective tips to help the bank or the financial institutions to analyze the profitability of our business plan. The cost for project report of MUDRA will be around Rs. 5,000 to 12,000/- (Can vary as per work performed)

Types of MUDRA Loan

There are three schemes under MUDRA Loan; they are Tarun, Kishor and Shishu.

1. Shishu: scheme offers loans up to Rs.50,000.
2. Kishor: scheme offers loans more than Rs.50,000 and less than Rs.5 lakh.
3. Tarun: scheme offers loans more than Rs.5 lakh and below Rs.10 lakh

These schemes are designed to help in meeting the requirements of different business activities and sectors as well as the requirements of entrepreneur/business segments.