Business News India: October 2017

Wednesday 25 October 2017

Advantages Of Payroll Outsourcing

Payroll outsourcing services offers multitude of benefits to the corporate sector, especially to small and mid-sized enterprises. Some of the noteworthy benefits are :-

Free up your time Payroll processing is indeed a brain storming process. Outsourcing payroll can free up staff to pursue other important value added and revenue generating activities.
Trim costsThe direct costs of payroll processing can be greatly deduced by working with an efficient payroll provider. Moreover, cost saving for the company on outsourcing payroll processing is extremely significant and it can go up to 500% at times also.
Avoid penaltiesBy outsourcing payroll, you can free yourself from worrying about fines and penalties. It is believed that nearly 40% of businesses pay penalties due to late or incorrect fillings. But this unwanted situation can be avoided by availing the services of a payroll provider as many payroll outsourcing companies also give a tax guarantee and they make sure that you do not need to pay any fine. For this reason alone, it is justify to outsource payroll.

For more information visit at: https://goo.gl/cCCDbu

Commerce Ministry To Align Foreign Trade Policy With GST

The commerce ministry will come out with a notification to align the foreign trade policy (FTP) with the provisions of the Goods and Services Tax (GST), which will be rolled out from July 1.
The ministry will have to come out with a notification as it has not been able to revise the FTP as was planned earlier. How to apply for gst registration
In a statement, it said that the ministry will release the reviewed FTP in September and not before the GST rollout as was being planned.
It was announced earlier that the mid-term review of FTP would be released before July 1 to align it with the rollout of Goods and Services Tax (GST). GST consultants

For more information visit at: https://goo.gl/KADxUw

With GST, India Heading Towards a Transparent Tax Regime Modi

Prime Minister Narendra Modi today termed the Goods and Services Tax (GST) as by far the biggest economic reform and said India is now moving towards a modern, transparent, stable and predictable tax regime GST consulting services.
Addressing an India-Israel CEO Forum, he said regulatory and policy issues facing companies have been resolved and his government is positioning India as a manufacturing hub.
India-Israel CEO Forum, which met for the first time today, set a target to increase the bilateral trade from the current USD 5 billion to USD 20 billion within five years. “GST is by far biggest business and economic reform of India. Now, we are moving towards modern tax regime, which is transparent, stable and predictable,” Modi said.
With MoUs worth over USD 5 billion concluded on the sidelines of his unprecedented visit, he said a new chapter has been opened in India-Israel relations. “The driving force is opportunities for betterment of lives of people.”
We (Indian government) have resolved number of regulatory and policy issues facing businesses and companies How to apply for GST registration.

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GST: When Does Service Provider Need To Register Across Multiple States ?

If you're a service supplier with operations in just one state, GST goes to be wonderful as a result of while not an excessive amount of of compliance burden, you tend to induce additional input-tax credits. But, if you're a service supplier in additional than one state, and that i believe, the bulk would have operations in multiple states; therein case it might be vastly completely different below GST.
Service suppliers currently need to grapple with a very new set of facts. Several of them are progressing to be assessed in many states, many of them would need to acquire company registration in new states, that they're not at home with.

However, there has been abundant confusion once it involves registration in numerous states and once will a service supplier get to check up on a multi-state company registration in India. To form things terribly clear, simply as a result of you offer services during a specific state, you're not needed to register therein state. That’s not needed in the slightest degree. it's only you've got operations during a specific, that may be a place of business or workplace that you simply need to register therein state.

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GST Notifies Rules for Registered Valuers.

Individuals, partnership entities as well as companies can act as valuers under the Companies Act after getting registered with an authority specified by the government, says a notification.
The corporate affairs ministry has proposed to specify the Insolvency and Bankruptcy Board of India (IBBI) as the authority with respect to registration, recognition and ancillary matters related to valuers in company registration in India.
The Companies (Registered Valuers and Valuation) Rules, 2017 have been have been notified by the ministry. The rules provide for registration of valuers under the Companies Act, 2013.

"The valuers, who may be individuals or partnership entities or companies, would be required to be registered with the authority specified by the central government. "The rules provide for registration of different category of valuers and lay down the requirements on their eligibility, qualifications and experience," an official release said today. company incorporation in India.

For more information visit at: https://goo.gl/a62mnt

Corporate Tax Filing & Returns

How Brooks Consulting can help you?

At Brooks Consulting, our eminent tax planning professionals work with auditors, economists, actuaries and other specialists to offer tax solutions to companies like yours. But, wherever you do your business, we can help you enhance your cash flows; augment your gross tax margins, boost net profits, manage debt, and curtail tax rates. Whether you are looking for better tax management across a wide range of territories or with multiple entities in one territory, we have a team of skilled tax teams who can easily coordinate with your multi-country compliance requirements, help you with your tax accounting and reporting obligations. We also offer you tax compliance, tax payment advice and outsourcing services in payroll processing services.

For more information visit at: https://goo.gl/YnGGks

Tuesday 3 October 2017

Commerce ministry to Align Foreign Trade Policy With GST

The commerce ministry will come out with a notification to align the foreign trade policy (FTP) with the provisions of the Goods and Services Tax (GST), which will be rolled out from July 1.
The ministry will have to come out with a notification as it has not been able to revise the FTP as was planned earlier. How to apply for gst registration
In a statement, it said that the ministry will release the reviewed FTP in September and not before the GST rollout as was being planned.
It was announced earlier that the mid-term review of FTP would be released before July 1 to align it with the rollout of Goods and Services Tax (GST). GST consultants.

For more information visit at: https://goo.gl/QJjNcf

Procedure For Company Incorporation In India

Types of Business Entities in India

Types of Companies in India - Types of Corporate Entities in India - Types of Legal Entities in India - Options for Foreign Investors Doing Business in India

In India, the following types of business entities are available:

Private Limited Company

We provide consistent services in Private Limited Company Formation in India. We follow well defined service plan and are supported by professionals holding rich industry experience. Incorporation of Company in India includes Private Limited Company Incorporation, Company Registration India. Moreover, we also emphasize on every detail while maintaining close proximity with clients regarding best legal advice. Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Private limited company registration is governed by the Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register a private limited company, a minimum of two shareholders and two directors are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be a shareholder. Further, foreign nationals, foreign corporate entities or NRIs are allowed to be Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.

For more information See: Private Limited Company

Public Limited Company

Brooks Consulting have rich experience in providing services for Formation of a limited Company , Incorporation of Company in India, Online Company Registration in India and Company Registration in Delhi India. As per the governing rules, a ‘Company’ can be registered/setup up in India Formation of public limited where the Incorporation of Company formalities all over India is the same.

For more information See: Public Limited Company

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Payroll Management Services

More than only standard accounting and tax filling services, Brooks Consulting helps in corporate tax filings and annual returns for the companies. We work closely with all our clients as we firmly believe that clear understanding of their business goal is crucial to impart the best payroll management services.
Which system and procedures should be used to effectively deal with your company’s tax commitments? Where do you start? Tax management is daunting and risky undertaking at the best of times but these days businesses also need to combat with economic uncertainty and ever-changing regulatory oversight. Making sure that you have the right workforce in place and are employing the latest technologies to effectively manage your tax obligations, is not an easy task, especially if tax management is not the core job of your company. What’s more, tax deduction is different to different companies, depending on their divergent responsibilities within a company but one thing is certain it can relief even distressing financial burdens that can impede a company’s development. Also, if you are doing business in Europe, you need to make adjustments in compliance with European law. Fortunately, at Brooks Consulting, we can help you answer these tax-related questions. Payroll processing company.

Read more information visit at: https://goo.gl/QJjNcf