Producer Company Registration
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A producer company is a group of farmers/agriculturalists for the betterment of their living standards and as a means to increase their collective bargaining capacity. We help to incorporate the producer company in India.
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We help you incorporate Companies in India at a reasonable fee and with complete transparency regarding the overall cost. Talk to our advisors to obtain an all-inclusive fee.
We are a professional consulting firm specialising in company registration, taxation, accounting, payroll, compliance, and intellectual property rights (IPR) services to assist new and existing businesses in India. We provide our professional services at a reasonable fee, explaining the eligibility, process, and documents required for setting up and maintaining a business. We also prepare and file necessary applications with relevant government agencies such as the Registrar of Companies (ROC) and the Income Tax Department. We do not directly provide government documents or represent ourselves as a government agency.
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What is the meaning of a Producer Company?
GST was introduced in the year 2016 under the GST or Goods and Services Act. The purpose behind its introduction was the implementation of the idea of “One nation One Tax” across the country. Levied on the sale of goods and services, GST replaces taxes like sales tax, service tax, and VAT.
GST Registration Checklist
- Applicant’s PAN must be linked to his Address
- Applic o pay GST
- Exception: Casual and NRIan apply 5 days before
- EligibilityArea state they onal
- NSfor GST Composition Scheme
- ble to certain businesses
Producer Company Incorporation Checklist
GST Registration does not have a pan-India eligibility. It is only applicable to eligible businesses as per turnover limits prescribed under Section 22 of the Central GST Act, 2017. However, section 24 of the Act makes it mandatory for certain businesses to obtain GST registration irrespective of their turnover limits. Each of these businesses are listed below as per their eligibility criterias.
Businesses eligible for GST Registration in India include:
- Those dealing in merchandise with aggregate annual turnover exceeding Rs.40 Lakhs
- Those providing services with aggregate annual turnover exceeding Rs.20 lakhs
- Those operating in North Eastern and Hilly states with aggregate annual turnover exceeding Rs.10 lakhs
- E-commerce operators/ aggregators
- Businesses selling on e-commerce platforms
- Casual Taxpayers
- Business non-resident in India
- Importers & Exporters
- Taxpayers registered under the older tax regime
- Taxpayers registered under the older tax regime
- Businesses engaged in Inter-state supplies of goods & services
- Service Providers providing information & online databases services (OIDAR)
Procedure for Incorporation of Producer Company
A Producer Company gets registered as a Private Limited Company, and hence, the entire process of registering a Producer Company is similar to that of a Private Limited Company. The application is filled out by any director of the Company, and submitted to the Registrar of Companies, who verifies the details furnished in the application and the documents attached with it. Once the verification of the application is complete, the ROC shall issue the Certificate of incorporation in the name of the company.
Step-1: Documentation
The documents required for GST Registration are based on the type of entity and the nature of its business activity. It is extremely important that all the documents required for online GST registration are prepared beforehand. This helps avoid any hindrance in the application process later. A complete list of such documents is mentioned in the section above.
Step-2: Register on the GST Portal
GST registration for new business is an application-based process. The first part of the application seeks basic registration details. This includes type of entity, name of entity, PAN number, and the state / UT where the business operates. Providing these details enables successful registration on the GST Portal.
Step-3: OTP-based Verification
GST Registration in India is a PAN-based process. The applicant must provide his PAN details in the first part of the application. As mentioned earlier, the PAN must be linked to the applicant’s Aadhar, mobile number and email address for OTP verification.
Step-4: TRN Generation
As soon as the PAN is entered, an OTP is sent to the linked mobile number and email address. After furnishing the two OTPs successfully, a Temporary Reference Number or TRN is generated. You can use the TRN for completing the application form further. Note that the TRN will be valid for 15 days only, so the process must be completed within this time period.
Step-5: Complete the GST Application Form
Sign in to the GST portal using the TRN and access the GST REG-01 application form. Complete the form by filling in the requisite details and uploading the requisite documents. This includes information about the business, promoters/partners, location of the business, products/services, and authorised individuals. Upon completing the form, verify it using the authorised signatory’s DSC or EVC.
Step-6: Issuance of GSTIN
Upon submission of all the details and documents, the application is processed in approximately 10 to 15 days. After successful verification of the form, the department allots a unique GSTIN to the applicant business. This GSTIN can further be used to check GST registration status and fulfil all GST-related compliances.
Documents Required for Registering a Producer Company in India
The table below contains a list of documents required for Public Limited Company Registration, and the eligibility criterias for setting it up. Both these are crucial requirements for a successful incorporation process. Public Limited Company eligibility criterias include the minimum number of its owners and directors along with the presence of a unique name and office address. On the other hand, public limited company documents include the KYC of promoters and the proof of registered business premises. At Taxcurv, we help you meet the eligibility criterias with ease and prepare all the documents beforehand for a seamless process. Here’s what you require:
| Documents of the Members | Documents of the Premises |
|---|---|
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