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Other Registrations post Incorporation

Important Registrations for Business

In the process of commencement and establishment of a new business venture we are all aware that a limited form of entrepreneurship can derive more benefits in comparison to a proprietorship or partnership firm.  A business enterprise is normally associated with peaks and slogs in the segments of profitability, retention of customer relationships, creating and upgrading the quality factor in the various dimensions of the business structures.

Some of the important registrations which are mandatory for the business are discussed below:

Shops & Establishment Act

The purpose of this Act is to ensure compulsory registrations of all shops, regular payment of wages to employees along with statutory leave, specific working hours, prescribed opening and closing of Shops and establishments or recovery of unpaid or wrongly deducted wages. The machinery of Shops and Establishments Act in West Bengal is composed of a hierarchy of inspecting personnel and they remain concerned for accurate observation of the various provisions of the Act.

Every establishment shall compulsorily register under the provisions of this Act within 30 days of commencement of business which involves a cost of Rs. 4500 and the time required is not less than 10 business days.

Profession Tax Registration

This tax is being imposed by State Government on the income earned by way of employment, trade or profession. The scope of professional tax registration extends to proprietorship firm, partnership firm and private limited company. The employer is liable to deduct the professional tax of the employees from their salary and deposit the same to the credit of the state government. In addition to that, even the directors of a private limited company shall come under the purview of professional tax. The entity shall incur a cost of around Rs. 5000 and involves a time of 2-5 business days for getting the registration.

Sales Tax Registration

This registration is applicable to those business concerns which deal in selling products that includes electronic items, food items, books or any other physical product. Sales tax registration comprises of VAT and CST Registration. This registration number is also known as TIN number. In addition to those concerns which are liable for compulsory registration under the applicable provisions, an entity can even pursue for voluntary sales tax registration. It requires approximately 15 to 20 working days to complete the process of registration and leads to a cost of about Rs. 5000.

Service Tax Registration

As per the rules framed by the government of India every service provider has to mandatorily apply for service tax registration if the value of services expected to be rendered by him in a financial year is more than 9 lakhs. In other cases the service tax registration can be taken at the discretion of the service provider. It involves a cost of about Rs. 2000 and requires about 7-10 business days to complete the entire process.


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