28
Jan

What are other registrations required after company registration?

A company can be seen as an artificial legal person with its very own rights, powers, features, and liabilities. The directors of the company are its brains and organs, and the shareholders are the legal guardians, and as the guardian of the company, you are responsible for being aware of the legal requirements you need to follow.  

You should follow-up on the latest regulations and policies from time to make to ensure proper compliance of the law. These are other registrations required after company registration-  

  • Shop and Establishment Registration 

Under the respective State Shop and Establishment Act and Rules, every Business Establishment is required to obtain Shop and Establishment Registration within 30 days of registration. This registration is mandatory for all business ventures. This law is state-specific, which means that any particular company has to obtain the Shop and Establishment Registration in every state wherever it has offices and establishments. 

  • Profession Tax Registration- Employer and Employee 

Every business venture is required to procure the enrolment certificate for Professional Tax Registration, withing 30 days of setting up the establishment. This registration is state-specific and is mandatory regardless of whether you have any employees or not. This registration must be renewed every year with a specific amount as a renewal fee.  

The company must also obtain Professional Tax Registration- Employee once they start employing workers.  

  • Infusion of Initial Capital by Subscribers to Memorandum 

Within 60 days of company registration, the company is required to issue share certificate to the shareholders.  

  • Issue of Share Certificate to the Subscribers of MOA 

Within 60 days of incorporation, the company must issue Share Certificate to the Subscribers of Memorandum of Association. The forms have to be signed by the company and an authorized signatory.   

Any postponement in an issue of Share Certificates leads to non-compliance of Companies Act and also the delayed stamp duty payment shall attract impounding of share certificates under Stamp Act. 

  • Goods and Services Tax (GST) Registration 

Under the Goods and Services Tax (GST) Act and Rules, every business with an annual turnover exceeding Rs. 40 lakhs (Service providers 20 lakhs) are required to obtain a Good and Services Tax (GST) Registration.  

However, it is not mandatory to obtain this registration immediately after the commencement of the venture. The company must acquire this registration as per their needs.  

  • Trademark Registration 

A trademark is defined as the unique identity of a brand. Its name and logo are the mark of its unique identity for a company. In India, trademarks are registered by the Controller General of Patents, Designs and Trademarks, Ministry of Industry and Commerce, Government of India. You can register the trademark under the act named The Trademark Act, 1999. 

This registration ensures protection against identity theft by other companies.  

There are many other regulatory laws that a company has to follow under the Companies Act. 

DBPL, the leading consultation business set up services in India, provides you with all the legal information required while company registration process in India and assists you in obtaining all the registrations and mandatory certificates.