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IEC which stands for Import Export Code is important for any company, because without the IEC any exports and import can be done within or outside India. What is Import Export Code (IEC)? Import export code (IEC) is used by importers and exporters in India for clearing their goods from customs authority or by services providers for export of services from India to foreign countries. IEC is issued by DGFT in India. It is a unique 10 digit number which is allotted on filling an online application in form ANF-2A with any regional office of DGFT. As soon as a business starts operating worldwide, there are many additional factors which can have a huge impact on its success. Exporting and importing goods is the primary of any large, successful business; it also helps national economies growth and growth of business. Some of the Benefits of the Import and Export Business are:- For Import Business Introduction of New Product in the Market: Many businesses in India and China tend t

Companies Act, 2013 has opened the corporate door for the individuals who have all the entrepreneurial expertise and always wanted to have their own company by the new concept of "One Person Company". DEFINITION of OPC in India :- Section 2(62) of the Companies Act, 2013 defines OPC to mean a Company which has only one person as a member. It can have only one member at any point of time. It may have only one director and can however appoint more than 15 directors after passing a special resolution. As per section 3(1) and (2), OPC can only be incorporated as a private limited company. Such a company may either be: A company limited by shares; or A company limited by guarantee; or An unlimited company The words ''One Person Company'' is required to be mentioned in brackets below the name of such company, wherever its name is printed, affixed or engraved. Eligibility for Incorporation and Nominee Member As per Rule 3(1) of the Companie

The Trade Mark Rules, 2017 have been notified and have come into effect from March, 2017. These Rules, which replace the erstwhile Trade Mark Rules 2002, will streamline and simplify the processing of Trade Mark applications. Some Significant Features of the Revamped Rules are as follows: Number of Trade Mark (TM) Forms have been reduced from 74 to 8. To promote e-filing of TM applications, the fee for online filing has been kept at 10% lower than that for physical filing. Based on stakeholders feedback, the fees for Individuals, Start-ups and Small Enterprises have been reduced from that proposed in the draft Rules – i.e. only Rs 4,500 as against Rs 8,000 for e-filing of TM applications proposed at the draft stage. Modalities for determination of well-known trademarks have been laid out for the first time. The provisions relating to expedited processing of an application for registration of a trade mark have been extended right upto registration stage (hitherto, it was on

The GST Council on Saturday fixed a 5 per cent tax rate on small hotels and restaurants and approved draft of key supporting legislation's to enable roll out of the new indirect tax regime from 1st July. "GST looks on track. Subject to Parliament approval, it looks like the possible date of implementation of GST is July 1," Jaitley said after the 11th GST Council meet concluded in New Delhi. The all-powerful Council approved the final draft of Central GST (C-GST) and Integrated GST (I-GST) and will take up for approval the State-GST and Union Territory-GST (UT-GST) laws at its next meeting on 16th March 2017. The C-GST, which will give powers to Center to levy GST on goods and services after union levies like excise and service tax are subsumed, and I-GST that is to be levied on inter-state supplies, will go to Parliament for approval in the second half of the Budget session beginning March 9, "Finance Minister Arun Jaitley" said. The S-GST, which

A sole proprietorship is a business that is owned, managed and controlled by one person. It is one of the most common forms of business in India. Proprietorships are very easy to start and have very minimal regulatory compliance requirement for getting started. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. A sole proprietor may use a trade name or business name other than his, her, or its legal name. They will have to legally trademark their business name, the process being different depending upon country of residence. Step by Step Process Decide a name for your Business Research it to avoid trademark infringement. This can be done by entering the desired name into a search engine or exploring your county or state's fictitious name database. Register your Busin

My Corporation Consultants Private Limited is your one stop solution for setting up business in India. Through my Corporation Consultants Private Limited we aim to deliver widest spectrum of solutions for business setting up in India, right from advising you on your business, set-up plan right till the necessary business support services like accounting, HR, payroll, record maintenance etc. Our aim is to let you concentrate on your business and let us handle the other compliance and procedural issues. My Corporation Consultants Private Limited provides all preliminary information relating to setting up business in India, so that you can understand the regulatory environment for setting up business in India and other issue related with it My Corporation Consultants Private Limited is a venture promoted by Corporate Professionals group, which is best illustrated for providing widest spectrum of corporate services at one stop. We are recognized as a destination where all paths