Which GST Returns businesses should file regularly

GST Return filing is mandatory for every GST Registered person , Filing of GST Return is main part to carry on business in smooth manner and to avoid non filing penalties. Non Filing of GST Return will make you Non compliant and you have to pay high penalties of Rs. 50 per day for per month return.

Here we will discuss about the present Return that every GST Dealer should file :

Filing of GSTR 3B :

GSTR3B Return contains all the information regarding Taxable and Exempted Supplied made and received by the dealer during the filing period. Like if any taxpayer has to file GSTR 3B Return , He has to fill all the amount of

  • Taxable Outward Supplies made and Tax Collected on Invoices
  • Zero Rated Supplies (Export and SEZ)
  • Exempted Supplies
  • Non GST Supply
  • Inward Supplies liable to reverse charge
  • Input Tax Credit for Purchase of Goods and Services
  • Input Tax Credit for Import of Goods and Services
  • any other ITC

GSTR 3B is very Important return that is required to be filed by every month before 20th of the Next month , Due date for November , 2019 will be 20th December, 2019

Late Filing Fee : Rs. 50 per day or Rs. 20 per day for NIL return.

Filing of GSTR 1 Return :

GSTR 1 is Return for outward Supplies made by Registered Person, GSTR1 is both monthly and Quarterly return depending upon the turnover of the previous year period.

Following information is required to be filed in GSTR 1 Return :

  • B2B Invoices
  • B2C Large Invoices
  • Credit /Debit Notes Registered
  • Credit /Debit Notes unregistered
  •  Export Invoices
  • Amended B2B Invoices
  • Amended B2C (Large) Invoices
  • Amended Exports Invoices
  • Amended Credit / Debit Notes (Registered)
  • Amended Credit / Debit Notes (Unregistered)
  • Adjustments to above

File GST Return with Fastlegal – Call us at 9782280098 Place your request here 


Step by Step Procedure for Company Registration in Singapore

Singapore is Considered as one of the best Countries in the world, Singapore is among the top countries in the list of Ease of doing Business Rankings published by world bank. It takes around 2-3 days to fully incorporate a company in Singapore, In this article we will talk about the detailed procedure on how to register a company in Singapore Foreign Nationals who wants to register or incorporate a Company in Singapore must engage a Corporate Service Providers who provides Company Registration and Incorporation services, Corporate Service providers are local consultant who are basically authorized by Singapore Company Registry to deal with incorporation procedure, further it is much better to have guiding person with us always who can let us understand and help in legal compliance requirements as mentioned in Company law and regulations of Singapore

Minimum Requirements for Registration a Company in Singapore

  • Name of Company
  • Directors of the Company
  • Shareholding of the Company
  • Share capital of the Company
  • Registered office address of the Company
  • Company Secretary of the Company

Name of the Company

Name approval is the first step for registration of Singapore Company , name approval application is required to be filed online to ACRA. Please make ensure that before applying for new name of Singapore Company you must follow the following guidelines:
  • The name cannot be identical or similar to an existing business in Singapore
  • The name must not be trademark registered for
  • The name cannot be vulgar
  • The name must not be applied by another company and is approved
  • If the Name contains the word like “Legal” “Law” “Broker” or “School” , This is subject to approval from respective regulator and may take time in name approval process.
  • It takes around 1 hour to 1 Day for name approval
  • Name approved is valid for 120 Days from the date of approval

Directors of the Company

Directors of the Company plays the main role in the functioning of the company , following are requirements for Directorship in Singapore Company :
  • Both Foreign Nationals and Singapore Resident can be Director in Singapore Company
  • One Resident Director is mandatory for Singapore Company
  • Corporate cannot be Directors in Singapore Company

Shareholding of the Company

  • Company must have minimum 1 Shareholder
  • Maximum Shareholders can be up to 50
  • Natural Person or Corporate Entities both can be shareholders

Share Capital of the Company

  • Minimum Share Capital is S$1
If Company wants to increase its Share Capital it can do so by injecting additional funds to the capital of the Company

Registered office address of the Company

Every Company is required to have registered office address of the company within Singapore, Company is required to maintain and keep statutory documents at the registered office address of the company.

Company Secretary of the Company

  • Every Company is required to appoint Company Secretary within 6 months from the date of incorporation of Company
  • Company Secretary must be natural person
  • Company Secretary must be resident of Singapore
Place Your Request for Indian Company Registration

Steps for Registration of Company in Singapore

Company Registration is simple , quick and hassle free in Singapore, it will take around 1 to 3 days to incorporate a Company in Singapore, following are the steps required to followed for registration of Singapore Company
  • Choose Corporate Service Provider
  • Documents
  • Due Diligence form
  • Reserve Your Name
  • Signing of Company Registration Documents
  • Application for Incorporation

Choose Corporate Service Provider

First thing that you need to do is to choose Corporate Service Provider who is officially registered company service provider. This will help your new company to comply with Singapore Accounting and corporate regulatory Authority (ACRA), an Agency for Company Registration of Singapore government. The Corporate Service provider will guide you through the complete business incorporation procedure according to your needs. Now you are required to file Singapore Company Registration On boarding form.

Documents required for Incorporation of Singapore Company

For Individual Shareholders

Following Documents are required for each Officer, Shareholder and Beneficial Owner of the proposed company:
  1. Passport copy
  2. NRIC or Residency card , if applicant is Singapore resident
  3. Residential address proof (i.e. a driver’s license, a recent utility bill, rental agreement, etc.)
  4. Brief professional background. Brief Professional Background can be provided in the form of a curriculum vitae (CV), resume or link to the person’s LinkedIn profile or other profile.

For Corporate Shareholders

If the shareholder is a corporate entity, the following documents will be required for the corporate entity:
  1. Certificate of Registration issued by the Registrar of the jurisdiction where the company is registered
  2. Company Extract from the Company Registrar of the jurisdiction where the company is registered that contains the following information:
    • Company’s name, Registration number, and Registered address
    • Paid-up Capital and particulars of all Shareholders and Directors
    • Business activities that the Company is engaged in
  3. Authorized Person Resolution passed by the director(s) of the shareholding company that includes the following:
    • Authorization to hold shares in the proposed Singapore Company
    • Appointment of an Authorised Person to sign the Singapore Company formation documents on behalf of the shareholding company
  4. An ownership structure chart that identifies the Ultimate Beneficial Owners (UBO) of the shareholding company. Identification documents for the key UBOs may be required for KYC due diligence.

Due Diligence Form

Due Diligence are carried out by Company Service Providers for foreign nationals that the proposed promoters of the Company are legitimate and their business activities are in according to laws of Singapore. Due Diligence helps both Promoters and Corporate Service providers from problems arising out in futures and it will be in better interest of both promoters and corporate service providers This helps protect both your interests and the interests of your company registration service provider. While Singapore is one of the most transparent places in the world to do business, it’s important that it’s a level playing field for everyone. It is must that you must file the company on boarding form accurately with correct information so not to face any difficulties while incorporating a company.

Reserve Your Name

Once the above steps are complete you can now proceed for name reservation application , Please note that name reservation should be in accordance with the guidelines as mentioned above.

Signing of Company Registration Documents

Corporate Service provide will send you required documents for singing and you need to get the documents signed asap and sent it to your CSP

Application for Incorporation of Company

Once the Above documents are signed and sent , corporate service provider will file incorporation application

Company Fresh Start Scheme – 2020 , File Company Returns without Additional Fee

What is this Company Fresh Start Scheme – 2020 (CFSS-2020)  for

Company Fresh Start Scheme -2020 is for Waiver for Payment of Additional Fee for Filing of E forms with ROC/MCA and Immunity from launch of prosecution or proceedings for imposing penalty

Applicable for

  • Companies which has not filed Annual Return and Financial Statements to ROC /MCA i.e. Form AOC-4, AOC-4 XBRL, AOC-4 CFS,  Form MGT-7
  • Companies which has not filed any E Forms that are required to be filed to ROC /MCA and not filed i.e. Form MGT-14, ADT-1, Form DPT-3 , Form DIR-12, Form 20A, INC 22

Period for Which Returns Can be filed under CFSS-2020

  • From 01-04-2020 to 30-09-2020

Fee Payable for Filing of Documents

  • Normal Filing Fee

What is Form CFSS-2020

  • E Form
  • Required to be Filed with MCA
  • Within 6 Months after the End of the Scheme
  • No Filing Fee for E Form CFSS-2020

Non Applicability of CFSS-2020

  • Company under Strike off
  • Amalgamated Companies
  • Applications filed for obtaining Status of Dormant Companies
  • Vanishing Companies
  • Form SH-7 for Increase in Authorized Share Capital
  • Form CHG-1 , CHG-4, CHG-8, CHG-9 related to Charge

Inactive Companies

Shall File

  • Application for Obtaining Status of Dormant Company
  • STK-2 for Strike of Name of Company

Action by ROc/MCA

  • If Pending Returns/ Documents are not filed
  • MCA/ROC will take action as per provisions of Companies Act, 2013 which provides for very high penalties

MCA Alert : Make Investment into Complaint Nidhi Companies Only

MCA has issued an advisory to Investors and depositors of Nidhi Companies, that they should invest only to Companies making regular Compliances of Nidhi Rules, 2014 and Companies Act, 2013

Following are the text from MCA Advisory to Investors and Depositors

In order to make regulatory regime for Nidhi Companies more effective and also to accomplish the
objectives of transparency & investor friendliness in corporate environment of the country, the Central
Government has recently amended the provisions related to NIDHI under the Companies Act and the
Rules (effective from 15.08.2019).
Under Nidhi Rules, 2014, Nidhi is a company which has been incorporated as a Nidhi with the object
of cultivating the habit of thrift and saving amongst its members, receiving deposits from, and lending
to, its members only, for their mutual benefit.
The amended provisions of the Companies Act (Section 406) and Nidhi rules (as amended
w.e.f. 15.08.2019) require that the Nidhi companies have to apply to the Central government for
updation of their status/ declaration as Nidhi Company in Form NDH-4.
2. The time-frame for applying to Central Government in form NDH-4 is as under:-
(I) Companies incorporated as Nidhi before Nidhi Amendment Rules, 2019 i.e. 15.08.2019 have
to apply within a period of one year from the date of its incorporation or within 9 months of the
Nidhi Amendment Rules i.e. 15.08.2019 whichever is later.
(II) Companies incorporated as Nidhi on or after Nidhi Amendment Rules, 2019 i.e. 15.08.2019
have to apply within 60 days of expiry of one year from the date of incorporation or extended
period (as granted by concerned Regional Director).
3. In case a company does not comply with the above requirements, it shall not be allowed to file
Form No. SH–7 (Notice to Registrar for any alteration of share capital) and Form PAS–3
(Return of Allotment).
4. Such companies are required to ensure strict adherence to provision of Companies Act,
1956/2013 and Nidhi Rules, 2014 as amended. In case of contravention of the provisions of
these Rules, the company and every officer of the company who is in default shall initially be
punishable with fine which may extend to five thousand rupees and further fine in case of
continuous violations.
5. Investors are advised to verify the status of Nidhi company from the notification issued by
Central Government in official gazette before making any investment or deposit.


Reference : http://www.mca.gov.in/Ministry/pdf/Nidhi_19032020.pdf 


Company Registration: How to Register in Hindi

अगर आप कोई बिजनेस स्टार्ट कर रहे हैं और आप सोच रहे हैं कि उस बिजनेस को आप प्राइवेट लिमिटेड कंपनी (Company Registration ) में कैसे रजिस्टर करें।

चाहे आपका बिजनेस कोई भी हो आप उसको प्राइवेट लिमिटेड कंपनी के अंदर चला सकते हैं प्राइवेट लिमिटेड कंपनी के अंदर चलाने से आपके जो बिजनेस की लाइबिलिटी है वह लिमिटेड लायबिलिटी होगी और कंपनी एक अलग सेपरेट एंटिटी रहेगी, जो उसके डायरेक्टर्स और शेरहोल्डर से बिल्कुल अलग होगी.

company registration

Directors कंपनी में वह व्यक्ति होते हैं जो कंपनी के ऑपरेशंस को मैनेज करते हैं और अपनी के बिजनेस को चलाते हैं

वहीं दूसरी तरफ कंपनी के शेयर होल्डर्स वह व्यक्ति होते हैं तू कंपनी में इन्वेस्टमेंट करते हैं,

अब बात आती है कि क्या डायरेक्टर और शेरहोल्डर्स एक ही लोग हो सकते हैं क्या? हां बिल्कुल एक ही पर्सन डायरेक्टर और शेरहोल्डर दोनों हो सकता है मैं खुद ही अपनी कंपनी में इन्वेस्टमेंट कर सकता है तथा उसको मैंनेज कर सकता है.

प्राइवेट लिमिटेड कंपनी (company) के अंदर बिजनेस स्टार्ट करने के लिए आप को मिनिमम दो डायरेक्टर्शो शेयर होल्डर की आवश्यकता होगी इन दोनों डायरेक्टर्स को शेरहोल्डर्स के केवाईसी डॉक्यूमेंट की जरूरत होगी जो कंपनी रजिस्ट्रेशन के लिए काम में आएंगे

Company Registration के लिए निम्नलिखित दस्तावेज या दस्तावेजों की आवश्यकता होगी

  • पैन कार्ड की कॉपी
  • आधार कार्ड की कॉपी
  • बैंक खाते की कॉपी ( Saving Account) with address
  • फोटो
  • मोबाइल नंबर
  • ईमेल आईडी

उपयुक्त दस्तावेज कंपनी के डायरेक्टर और शेयर होल्डर के होंगे

उपयुक्त दस्तावेज पूरे होने के पश्चात हमें डिजिटल सिग्नेचर के लिए अप्लाई करना होगा डिजिटल सिग्नेचर अप्लाई करने के लिए एक वीडियो की आवश्यकता होगी उसके अंदर जो भी डिजिटल सिग्नेचर अप्लाई कर रहे हैं उनका एक मिनिमम 20 सेकंड का वीडियो अपने को चाहिए होगा.

कंपनी के पंजीकृत कार्यालय हेतु निम्नलिखित दस्तावेजों की आवश्यकता होगी for Company Registration –

  • इलेक्ट्रिसिटी बिल
  • No objection certificate from owner (NOC)
  • किरायानामा, अगर ऑफिस एड्रेस किराए पर है तो

कंपनी रजिस्ट्रेशन (Company Registration) के लिए अप्लाई करना

रजिस्ट्रेशन के लिए अप्लाई करने के लिए आपको किसी प्रोफेशनल कंसल्टेंट की हेल्प लेने की जरूरत होगी, आपके कंसलटेंट आपकी यह एप्लीकेशन रजिस्ट्रार ऑफ कंपनीज में फाइल करेंगे.

* एप्लीकेशन पूरी तरह फाइल होने के पश्चात रजिस्ट्रार ऑफ कंपनीज उसका

जैसे ही आपको कंपनी का सर्टिफिकेट और अगर रिक्वायरमेंट्स मिलती है आपको कंपनी में जो सब्सक्रिप्शन अमाउंट आपने डाला है वह अमाउंट आपको कंपनी के बैंक खाते के अंदर जमा कराना होगा उसके पश्चात कंपनी को रजिस्ट्रार ऑफ कंपनीज के अंदर बिजनेस कमेंसमेंट फॉर्म फाइल करना होगा जैसे ही कंपनी बिजनेस कमेंसमेंट का फॉर्म फाइल करती है कंपनी अपना बिजनेस स्टार्ट कर सकती है

For Company Registration you need to carry on all the above procedure, if you need any help for company registration , Please contact us at 9782280098


How to Change Main Object Clause Of MOA of Private Limited Company (7 Steps)

object clause

If a Private Limited company wish to undertake any object (New Business Activity) which is not mentioned in its MOA, and the company wants to start up a new business which is not as per it’s MOA then, it should make a change in its main object by Following the procedure mentioned below

object clause

Step by Step Procedure for Change in Object Clause of MOA of Company

Time Requierd 25 days

Hold Board Meeting and send Notice for Extra Ordinary General Meeting for change in Object Clause

Object Change

The first step for change in object clause of the MOA of the company is to hold Board meeting of the Company, in the board meeting main agenda should be to hold an Extra-Ordinary General Meeting of the Company.

Hold Extra-Ordinary General Meeting on the specified date for the change in Object Clause

object clasue

Now hold the extra Ordinary general meeting of the Company, in this regard do necessary legal and procedural requirement at venue of general meeting

Pass Resolution by taking approval of Shareholders for change in Object Clause

Now start the proceedings of general meeting and pass required resolution for change in main object of the company, resolution is required to be passed by requisite approval of shareholders of company

Get true certified copies of all the documents and resolutions in respect to change in Object Clause

object change

Once all the approval of shareholders are received , any director of company or authorized person will prepare necessary documents , like certified copies of all the documents and resolution , Following documents certified copies is mandatory required to be arranged :
1. Altered MOA of the Company
2. Resolution passed at EGM of the Company

File MGT-14 with all the Resolutions and Altered MOA

Once the above requirements are complete in all respect, Company is required to file E Form MGT-14 to Registrar of Companies with payment of fee.

Approval of E form MGT-14 for Change in Object of the Company

approval of MGT-14

Once e Form MGT-14 is filed with ROC , the ROC will check and verify the correctness of the Form and will if deems fit approve or send back the e form

Certificate of Registration for Change in Object Clause of the Company

Certificate for Object Change

Once the E form MGT-14 is approved by ROC , the Company will receive the email in this regard along with Certificate.

Once all the above is completed, complete all the required certificate and altered MOA in single set as new set of MOA of the Company.


Foreign Nationals Company Incorporation in India

Investment in India by Foreign Company will be in accordance with FDI Policy in India, so foreign nationals incorporating a company in India are required to check out the required permission ( how much FDI is allowed in India for particular Sector ) under the Foreign Direct Investment (FDI ) policy If we take an example of Technology Company, FDI policy permits 100% FDI policy under Automatic route.

1.          Automatic Route

2.          Approval Route

#1. Automatic Route: In this route, prior approval of Government is not required, the only intimation is required to RBI in the Form FC-GPR, FDI Policy provides sectors where FDI is allowed at what percentage of Equity Capital of the Company.

#2. Approval Route: This is route prior approval of government is required, where FDI is allowed under approval route under FDI Policy.

Foreign Nationals Company Incorporation Procedure :

With the Increase ranking of India in ease of doing business, Company Incorporation Process is the main reason due to governments efforts on simplification process in registering or setting up a company in India, Here is a step by step guide on setting up a company by Foreign Companies  :

#1. Getting the Documents Notarized and Apostle of Foreign Nationals :

Indian companies Act requires that the Documents for foreign Directors and Foreign Investor or Shareholders should be notarised and Apostle, Documents may also be signed in India if the applicant is in India on Business Visa.  Documents of foreign entities like

  1. Certificate of Incorporation
  2. Charter documents like MOA AOA,
  3. Resolution by Board of Directors of Foreign Entities should be all in English Language and certified translated copy in English copy along with Notarised and apostle.
foreign nationals
Foreign Nationals Company Incorporation

#2. Indian Resident Director:

Indian companies act requires that every company in India should have at least on resident Director who is resident in India during the financial year, we at Fastlegal provides resident Director appointment services in India, you may avail our services if you do not have your own person.

#3. Registered Office Address for Company :

Every Company in India should have a Registered Office Address situated in India, you need to have one place as a Registered Office address. Fast legal helps in getting the registered Office address.

#4. Name Approval Application

Company name approval application is required to be made for availability of name of the company, the company name should be unique, no other company or LLP or trademark should be already there.

#5. Digital Signatures of Directors and Subscribers ( Foreign Nationals and Indian Resident Director ):

We need to obtain a digital signature in the name of Directors and shareholders from certifying authorities in India, Fastlegal team members help in getting the DSC. DSC is required for signing the incorporation documents that are required to be submitted to the Registrar of companies.

#6. Application for Incorporation of Company :

Once all the required documents of foreign nationals and Indian Resident Director are fine and digital signatures have been obtained than incorporation application is required to be submitted. All applications are verified by the registrar of companies and once he is satisfied with all the particulars of the application, he MCA issues a certificate of incorporation to the company.

#7. Company Bank Account :

The company bank account is now mandatory Opened along with the Incorporation application, Indian Company may open a separate Bank Account also.

#8. Funding of Subscription Money into company bank account :

Now subscription money for equity capital is required to be invested into the company by the subscribers to the company.

#09. Filing of Form FC-GPR to RBI

#10. Application for GST Registration

#11. Filing of Business Commencement Application to ROC

Once the Subscription money is entered in Companies Bank Account, the company is required to file business commencement application to Registrar of Companies online

Documents Required for Incorporation of Company by Foreign Nationals  :

Apostle and Notarized Signed Documents are required for foreign Shareholders and Directors.

For companies it will be :

  • Certificate of Incorporation,
  • Memorandum of Association,
  • Articles of Association,
  • Board Resolution duly passed for entering and forming Company in India and

 for Foreign Directors : 

  • Passport Copy,
  • Driving Licence and
  • Current Address proof in the form of a Bank Statement is required.

Please email us at [email protected] or place your request below for your company formation requirements in India