Chetan Bhutada & Associates

Chetan Bhutada & Associates Practicing Company Secretary firm Practicing Company Secretary

18/07/2020

Today topic *Hallmark Registration*

*What is Hallmark?*
Hallmark is type of BIS Certification. Generally this mark is used on Jewellery which indicates purity of Gold.

*Governing dept?*
The ministry of Consumer Affairs Food and public distribution.

*Documents required?*
- Id proof of applicant
- Address proof of premises
- Business registration proof
- GST return/ Income tax return of last FY
- Email and mob of applicant

*Is it mandatory?*
From 14th January 2020 Ministry directed all the Jewellers to get registered for Hallmark within period of one year from date of notification.

*To whom it is applicable?*
Every jeweller who deal in Gold Ornaments/ Jewellery

*Govt Fees?*
Based on the last year turnover of firm upto
5 Cr- Rs.7500/-
5-25 Cr- Rs.15000/-
25-100 Cr- Rs.40000/-
Above 100 Cr- Rs.80000/-
For term of 5 Years

09/10/2017

Article Assistant/ Employee Required in our firm
Kabra Bhutada & Associates
No of Vacancies: 3
Location: Aurangabad
E-mail: [email protected]
Contact: 7030971007, 8855098984

23/09/2017

IMPORTANCE OF ANNUAL FILING WITH ROC FOR A PRIVATE LIMITED COMPANY

Compliance way or Confine Way!

Really appreciate the actions taken by Ministry of Corporate affairs for the companies who have not done their Annual filing from last three or more years. Two major issues which came to our notice are list of Directors associated with Struck of companies and List of Disqualified Directors.

As you are aware, post the introduction of the Companies Act, 2013, the liabilities on the professionals have increased manifolds, especially with reference to audits and certification.
What earlier had a wide scope has now been put under the ambit of specific professionals.

Lets, discuss few of the points in a brief What to do during the Period of Directors Disqualification. It is advisable not to act as a Director during the period of Disqualification or not file any
documents or application with the authority as the same shall get rejected.

Wordings of Section 164(2) clear states that Director who is disqualified as per section 164(2) of Companies act,2013shall not be eligible to be reappointed as a Director of that Company or in other Company for a period of five years from the date on which the said company fail to do so.

What happens to the Immovable property held in Company name after Strike off If ROC intend to close the Company Suo Moto, the company shall not be liable after Strike off. But if there are any pending Vendors, Customers, Payments the Company shall be liable.

It is advisable for the public not to deal with the companies which are strike off.

Penalty
As per the latest Companies (Amendment) Bill ,2017 if there is delay in filing Annual Return of the Company, penalty of Rs.100 per day till the default continues will be levied, same is the case
in Limited Liability Partnership.
So, to Safeguard the Clients from Huge penalties, disqualification remark and to avoid last minutes rush requesting your good office to complete the Annual filing in due time.

Regards
KBA TEAM

Easy of converting a venture into corporate entity.
26/04/2017

Easy of converting a venture into corporate entity.

06/04/2017

“GIVE A CHANCE TO YOURSELF THE WORLD WILL GIVE YOU ALL POSSIBLE CHANCES”

Just give few minutes to get your doubts and ideas clear for the corporate.

A. Why one should form a corporate entity ?
1. It is the only Company who can give you a separate legal status.
2. The Company define itself different from others.
3. It increases the Creditworthiness of the Company and its directors
4. Creates goodwill in the mind of customer and society

B. What are the benefits of Trademark/ Logo registration/ Brand registration for a start up venture?

A trademark is define your business and products different from all competitors. It creates trustworthiness in the mind of customers and society. It is the society who take you up above the sky if you satisfy their desires and fulfill their expectations.

Let’s come aside of above discussion, now think about if we do not Register Company or apply for Trademark what are its drawbacks;

1. No one can come to know that what is the structure of the entity, directors of the company, registered address of the company

2. No one can get online details about your venture on the other side a Private Limited company details can be find on MCA portal along with its capital structure, registered address, directors details

3. It is easy to your rivals to compete with you with the same brand name which you use. It is just like doha of Kabir das “AB PACHTAYE HOT KYA, JAB CHIDIYA CHUG GYI KHET” on the other side if your brand is registered then no one will try to copy your logo and brand name.

Regards,

CS Chetan Bhutada

07/01/2017

TRADEMARK REGISTRATION

1. What is Trademark?
A Trademark is a visual symbol, which may be word, name, device, label or numerals used by a business to distinguish its goods or services from other similar goods or services originating from a different business

2. What are the Benefits of Trademark?
Registered trademark authorize entrepreneur or businessman to use its rights and also authorize others to use its rights on the basis of some Royalty or Lumpsum amount. No one can use name of registered brand name without prior consent of its owner.

3. Who can apply?
Any individual, firm, company can apply for Trademark

4. Govt. Fees?
Rs. 4000/- per application

5. Documents Required?
1. Duly filled search form
2. Power of attorney
3. Pan card
4. Logo

6. Procedure of application?
1. Desired name/ logo public search
2. Filing of application if Search is positive
3. Examination of the application
4. Publication of the application
5. Opposition by third party
6. Hearing before Registrar
7. Registration of Trademark

7. Time Period for registration?
1.5 to 2 years from the date of application.
Between this period applicant can use (™) word
After, getting registered applicant can use (®)

Regards,
CS Chetan Bhutada

07/01/2017

MPCB LICENCE

1. What is MPCB Licence?
It is a licence issued by Maharashtra Pollution Control Board to the Manufacturing units.

2. Govt fees?
It depends upon the Investment made in the unit.

3. Steps for Licence?
Firstly manufacturer needs to apply for *Consent to Establish*
Secondly manufacturer needs to apply for *Consent to Operate*

4. Term of Govt. fees paid?
Generally Govt. fees paid for licence is for the term of Three years.

5. Documents required?
1. KYC docunents of Proprietor/ Partners/ Directors
2. Business registration proofs
3. Other Govt registration proofs
4. Proof of business premises/ registered office
5. Certificate of Investment duly certified by a practicing Chartered Accountant
6. Rent agreement if business premises is rented
7. NOC from owner of premises
8. Business activity of the firm/ company in details
9. Details of Raw material used for the manufacturing
10. Affidavits, annexures and other prescribed proformas duly signed by the proprietor/ partner/ director
11. Cancel cheque of current account

6. Types of certificates?
It depends upon the process and use of hazardous products/ raw material
1. Green
2. Orange
3. Red

Regards,
CS Chetan Bhutada

04/11/2016

The GST Council yesterday announced the GST Rates and here is a snapshot of the announcements made today:

1. The rate and scope of the long-delayed tax has been agreed upon today by the powerful GST Council, which consists of Mr Jaitley and his counterparts from different states.

2. The four GST slabs have been set at 5%, 12%, 18% and 28% for different items or services. The brackets are steeper than the rates of 6, 12, 18 and 26% earlier proposed by the government.

3. To keep inflation in check, essential items including food, which at present constitute roughly half of the consumer inflation basket, will be taxed at a zero rate. The lowest rate of 5 per cent would apply to common use items.

4. The peak rate of 28% will apply to luxury goods. Luxury cars, to***co products and aerated drinks will attract an additional cess on top of the highest tax rate.

5. The additional cess and a clean energy cess will create a revenue pool which will be used to compensate states for any loss of revenue during the first five years of the implementation of GST, Mr Jaitley said.

6. The Finance Minister pointed out that the average is lower than the 18% demanded by the opposition, in particular by the Congress.

7. Service Tax will go up from 15% to 18 %, said Revenue Secretary Hasmukh Adhia.

8. The tax rate agreed upon today must be now be approved by parliament, which meets from November 19 for the winter session. Parliament has to pass two bills related to GST in the winter session to be on track to roll out of the new indirect tax regime from April 1 next year.

9. Fitment or categorization of items for each slab will be done by officials and will then be approved by the GST council, Mr Jaitley said.

10. GST does away with indirect levies charged when goods cross state lines and unifies India into a single market.

11/09/2016

IEC/ IMPORTER EXPORTER CODE

What is IEC?
Every importer or exporter who intends to import or export any goods need to register for IEC with DGFT.

Govt. fees?
Govt fees for IEC is Rs.500/- & for modification in existing IEC is Rs. 200/-

Documents required?
1. Pan card
2. Passport size photo
3. Cancel cheque of current account ( Firm name should be pre-printed on it)
4. Digital sign of applicant
5. Address details of applicant and business premises
6. Email id and mobile number of applicant

Time period?
7-8 working days

Yearly compliances?
No annual compliances for IEC

Regards,
CS Chetan Bhutada

06/09/2016

ESIC raises wage threshold to Rs 21,000

The Employees’ State Insurance Corporation (ESIC) today raised the monthly wage threshold to Rs 21,000, from the current Rs 15,000, for coverage under its health insurance scheme.

BENEFITS TO OLD MEMBERS IN ESIC
In a meeting held today, the ESIC board also decided to give an option to existing insured persons to continue membership even if their basic wage breaches the ceiling of Rs 21,000 per month.

25/08/2016

Today is the birthday of the Lord Krishna, an avatar of Lord Vishnu, led a simple life and gave us a guidebook for happy living. His teachings are simple yet meaningful; they when incorporated in our daily life bring both happiness and success.

Wishing you a very very happy Janmashtmi.
🍃राधे-राधे🍃

Thanks & Regards
Team Chetan bhutada & Associates

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