Others

IMPORT AND EXPORT CODE REGISTRATION

INTRODUCTION

An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted. For services exports however, IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.

Consequent upon introduction of GST, IEC being issued is the same as the PAN of the firm. However, the IEC will still be separately issued by DGFT based on an application. The nature of the firm obtaining an IEC may be any of the follows- Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society. The IEC registrations are regulated by Directorate General of Foreign Trade in DGFT portal

BENEFITS

• IEC has lifetime validity.
• Businesses also are not required to renew their registration.
• Certain benefits are also available from areas such DGFT customs, Export Promotion council, etc.
• Furthermore, businesses can obtain a refund of taxes paid while exporting goods.

ELIGIBILITY

• Every Business involved in the Imports & Exports

DOCUMENTS REQUIRED

1. PAN Card of the Individual or Establishment
2. Bank Account Details
3. Address proof of the establishment
4. Copy of Rent Agreement or Electricity Bill copy of the premise
5. Establishments Cancelled Cheque copies of current account
6. Digital Signature token, in case of linking IEC to user profile

FAQS

Q1. Who is exempted from IEC?

Ans: If import or export is made for personal use or is made by government department then no IEC is required. According to the latest circular issued by the government, IEC is not mandatory for all traders who are registered under GST.

GeM SERVICES

INTRODUCTION

Gem - Government e Marketplace is an e-commerce platform regulated by the Indian government. In this platform, it allows all business organizations to be a seller to sale their products and to be a buyer to procure the products available on the platform.

Especially, the business enterprises can participate in the Bids or Reverse Auctions to get the Contracts and Tenders all over India which will be published in this portal.

It is important to note that the registration on GeM should be done only by an Authorized Person / Key Person. Since the details of the Authorized Person will get validated as per Income Tax Return filing.

BENEFITS

• Best platform where you can find different types of contracts/ tenders, so that you can participate as per your business vertical.
• Helps in Ease of Business by providing different products and services in a single platform.

ELIGIBILITY

• Proprietorship Business
• Partnership Firm
• Company
• Trust / Society /Association of Persons
• Government Entity

DOCUMENTS REQUIRED

1. Aadhaar Card
2. PAN Card
3. Active E-Mail and Mobile number linked with PAN & Aadhaar
4. PAN of the Enterprise
5. Incorporation Certificate
6. CIN in case of a Company
7. ITR forms and Acknowledgements for last 3 years
8. Address proof of the Registered Office
9. GSTIN (if applicable)
10. Bank Account details
11. Udyam Registration Number in case of MSMEs
12. DIPP Certificate in case of Start-up

OUR SERVICES

1. GeM Registration
2. Advisory Services related to Tenders / Contracts

FAQS

Q1. Does GeM portal directly involved in the tenders published?

Ans: No, GeM does not hold any responsibility for the accuracy, authenticity and validity of information, since all information about various Tender Documents published on GeM portal is being provided by CPP portal to facilitate faster dissemination and easy access to information related to Tenders.

Q2. Can we cancel the Bid on GeM portal?

Ans: Bidders are allowed to modify or withdraw their online bids any time before the last date and time specified for closing of the receiving period. No bid can be modified or withdrawn by a Bidder, after the closing date and time for submission of bids

ISO CERTIFICATION

INTRODUCTION

ISO - International Organization for Standardization

ISO certification is a seal of approval from a third-party body that a company runs to one of the international standards developed and published by the International Organization for Standardization (ISO).

In the modern competitive business world, it is very important to gain the customers trust, all this will happen by delivering the high-quality goods and services.

BENEFITS

International Organization for Standardization (ISO) certification establishes credibility and trust among consumers, clients and other business partners. In today's international marketplace, such a designation validates that an organization adheres to global standards of quality assurance, manufacturing and business.

IMPORTANT ISO STANDARDS

• ISO 9001:2015 (Quality Management)
• ISO/TS 16947 (Automotive)
• ISO 17025 (Testing/ Food and Drug Administration)
• TL 9000 (Telecommunication)
• ISO 13485 (Medical devices)
• ISO 29001 (Oil/ Gas)
• ISO 14001 (Environment)
• ISO22000 (Food Safety)

PROCESS OF ISO CERTIFICATION

STEP 1: Choosing the ISO certification body

It is to be noted that ISO itself will not provide certification to the companies. Certification is done by some external bodies following the CASCO Standards.

STEP 2: Create an Application through Contract

The applicant and the registrar should agree on a contract. This contract usually defines rights and obligations of both parties and includes liability issues, confidentiality, and access rights.

STEP 3: Documents Review

The ISO auditor will view all your quality manuals and documents related to various policies and procedures and identify the possible gaps which does not meet the requirements as per the ISO Standards. After that ISO auditor will communicate the gaps with the applicant.

STEP 4: Action Plan

The applicant should prepare an action plan by listing out the required tasks to be performed to get the desired changes in the organisation, according to the gaps.  He has to give training to the employees to adapt new procedures and make them aware about the ISO standards.

STEP 5: Initial Certification Audit

The initial certification audit is done in two stages

Stage 1: The ISO auditor will audit the changes made by you in the organization. They will then try to identify the possible non-conformities in your systems and procedures to the desired quality management system. They will divide these non-conformities into minor and major non-conformities. The applicant must carefully assess all these non-conformities and get it aligned as per the desired quality standards through modification in the techniques and processes used by the organisation. 

Stage 2: After all the required changes are done in the organisation, the ISO auditor does the final auditing. The auditor will check whether all the non-conformities have been eliminated or not as per ISO quality standards. If the ISO auditor is satisfied, they will prepare the final ISO audit report and forward it to the registrar.

STEP 6: Completing the ISO Certification

After all non-conformities are addressed and all the findings are put in the ISO audit report, the registrar will grant you the ISO certification.

FAQS

Q1. Does GeM portal directly involved in the tenders published?

Ans: No, GeM does not hold any responsibility for the accuracy, authenticity and validity of information, since all information about various Tender Documents published on GeM portal is being provided by CPP portal to facilitate faster dissemination and easy access to information related to Tenders.

Q2. How much time it will take to complete whole process of ISO certification?

Ans: Generally, it will depend on the size of the organization i.e.,

• Small organisations: 6-8 months
• Medium organisations: 8-12 months
• Large organisation: 12-15 months

FACTORIES REGISTRATION

INTRODUCTION

Every manufacturing unit, SMEs and Factories should compulsorily register their premises with Local Authorities under the Factories Act, 1948. The Factories Act, 1948 provides that certain factories that fulfil the conditions given in the Act must register and obtain a factory license under the Act to ensure the safety of the workers.

Factory License acts as an approval document provided by authorities to carry out manufacturing activities. The Factories Act 1948 states that a factory must obtain approval from the labor and employment department for its building plan before it covers itself for registration of a factory.

APPLICABILITY

As per the Act, the below factories must obtain the factory license:

• When the factory has 10 or more workers involved in manufacturing activity with the aid of power
• When the factory has 20 or more workers involved in manufacturing activity without the aid of power

BENEFITS

• It will help to apply for and obtain other licenses.
• Factory owners must mandatorily obtain this license, or else they may have to shut down the factory.
• It also protects owners from penal provisions laid down under the Factories Act.
• It ensures owners adopt appropriate safety measures to promote their workers' welfare and health.
• Factory owners can also get benefits provided by the government under different schemes when they obtain the factory license.

DOCUMENTS REQUIRED

1. ID and Address proof of Owner
2. Address proof of the factory premises or location (rental agreement or electricity bill)
3. Pollution department consent letter
4. NOC from the fire and water department
5. Business PAN Card copy
6. Factory layout and building plan
7. Board resolution and Partnership deed
8. List of Directors
9. Particulars of Equipment and Raw materials
10. Particulars of Hazardous and Non-Hazardous wastes
11. Tax Receipts (if available)

FAQS

Q1. Does GeM portal directly involved in the tenders published?

Ans: No, GeM does not hold any responsibility for the accuracy, authenticity and validity of information, since all information about various Tender Documents published on GeM portal is being provided by CPP portal to facilitate faster dissemination and easy access to information related to Tenders.

Q2. Is there any validity period for factory licence?

Ans: The validity period may vary state to state .ie.,1-5 years. Factory owners are required to renew the licence prior to their due date.

DIGITAL SIGNATURE CERTIFICATES

INTRODUCTION

Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Few Examples of physical certificates are drivers' licenses, passports or membership cards. Certificates serve as proof of identity of an individual for a certain purpose; for example, a driver's license identifies someone who can legally drive in a particular country. Likewise, a digital certificate can be presented electronically to prove one’s identity, to access information or services on the Internet or to sign certain documents digitally.

A DSC contains information about the user’s name, pin code, country, email address, date of issuance of certificate and name of the certifying authority. The DSCs are usually valid for one to two years. However, they can be renewed before the expiry period. 

CLASSES OF DSC

Class 1 certificate: shall be issued for both business personnel and private individuals use. These certificates will confirm that the information in the application provided by the subscriber does not conflict with the information in well-recognized consumer databases

Class 2 certificate: Here, the identity of a person is verified against a trusted, pre-verified database

Class 3 certificate: This is the highest level where the person needs to present himself or herself in front of a Registration Authority (RA) and prove his/ her identity.

TYPES OF DSC

1. Sign: A person can use Sign Certificates for signing a document. It can be affixed to a PDF, files or documents for GST returns submission, income tax returns, MCA online forms and other web-based services. It validates the integrity of the document and authenticates the user’s identity. It assures the receiver that the data mentioned is unaltered and the document is untampered.
2. Encrypt: A person can use the Encrypt Certificate to encrypt files, documents or other sensitive and confidential data. DSC encryption is for confidential documents and data. It helps enterprises and companies to encrypt and upload documents on web portals. This certificate can also be used to encrypt personal data and send it securely. Encrypt DSC is suitable for e-commerce documents, legal documents, e-tender filing documents and other confidential records. 
3. Sign and Encrypt: A person can use the Sign and Encrypt Certificate for both signing and encrypting purposes. It is usually used for filing government documents, forms and applications. It is suitable for those users who need to maintain and authenticate the confidentiality of the data exchanged.

DOCUMENTS REQUIRED

1. Aadhaar Card
2. PAN Card
3. Passport-sized photo
4. Address proof
5. Organizational PAN
6. Partnership deed, if applicable
7. Authorised Signatory ID proof
8. List of Authorised Signatories which could be the list of Directors, Board resolution, etc.
9. GST certificate
10. For Indian companies, the documents may differ depending upon the type of entity like Partnership, Proprietorship or sole ownership, LLP, etc.

Note: Documents 1-3 are for individuals, 4-10 are for organisations

IS DSC MANDATORY?

DSC is mandatory for some services / user categories such as e-Verification of returns filed by companies and political parties as well as other persons whose accounts are required to be audited under Section 44AB of the Income Tax Act. In other cases, it is optional.

However, A Digital Signature Certificate (DSC) is necessary to submit various online forms to the Government of India. It is used to sign electronic documents, emails, and other digitally transmitted documents. They enhance security using encryption technology. DSCs are predominantly utilised when businesses need to digitally sign online documents, securely authenticate the signature, and validate the signed copy.

PROCESS OF OBTAINING DSC

• Digital Signature Certificate (DSC) Applicants can directly approach Certifying Authorities (CAs) with original supporting documents, and self-attested copies will be sufficient in this case
• DSCs can also be obtained, wherever offered by CA, using Aadhar eKYC based authentication, and supporting documents are not required in this case
• A letter/certificate issued by a Bank containing the DSC applicant's information as retained in the Bank database can be accepted. Such letter/certificate should be certified by the Bank Manager.

FAQS

Q1. Who issues the Digital Signature Certificate?

Ans: A licensed Certifying Authority (CA) issues the digital signature. Certifying Authority (CA) means a person who has been granted a license to issue a digital signature certificate under Section 24 of the Indian IT-Act 2000.

Q2. What is the difference between DSC and Digital Signature?

Ans: What is the difference between DSC and Digital Signature?

Q3. What type of DSC is to be obtained for e-filing on the MCA Portal?

Ans: DSC of either Class 2 and Class 3 signing certificate category issued by a licensed Certifying Authority (CA) needs to be obtained for e-Filing on the MCA Portal.

Q4. How much time do Certifying Authorities take to issue DSC?

Ans: Generally Certifying Authorities will issue a DSC within a day.

CERTIFICATIONS

• Networth Certificate
• Nil Statutory due certificate
• Stock Statements
• Foreign remittance certificate
• No Income Certificate
• Turnover certificate
• Capital Infusion certificate

LEGAL ENTITY IDENTIFIER(LEI)

INTRODUCTION

The Legal Entity Identifier (LEI) is a unique 20-charater alphanumeric code assigned to legal entities that engage in financial transactions. It provides a standardized way to identify entities globally, promoting transparency in financial markets.

PURPOSE OF LEI

• Enhanced transparency: The LEI helps in identifying parties involved in financial transactions, thus improving transparency and reducing the risk of fraud.
• Regulatory Compliance: Many regulatory bodies require the use of LEIs in financial reporting helping to ensure compliance with laws and regulations.
• Risk Management: Financial institutions can better assess counterparty risk and monitor exposure in their portfolios.
• Data Aggregation: LEIs facilitate the aggregation of data across markets and jurisdictions, aiding in regulatory oversight and research.

ADVANTAGES OF LEI

• Global Standardization: LEIs are recognized worldwide, providing a consistent identifier across jurisdictions and markets.
• Reduced Costs: By Eliminating multiple identifiers, organisations can reduce administrative burdens and costs associated with compliance.
• Improved Efficiency: The standardized format allows for faster processing of transactions and reporting, benefiting both financial institutions and regulators.
• Enhanced data quality: the use of LEIs leads to improved accuracy and reliability of data in financial reporting.
• Better Risk Assessment: Facilitates better risk management by allowing for comprehensive tracking of entities involved in transactions.