9 Point Business Plan for Startups [Infographic]
Startupwala Team 23/05/2018
Every company starts with a mission to make the world a better place. To make this journey a joyful experience timely LLP ROC compliances are the must.
This Infographic guide has everything you need to know about post incorporation compliances (Step-by-step).
#1 Opening an LLP Bank Account
- Documents Required
- LLP PAN Card
- Resolution for opening and operating company bank account
#2 Filing of LLP Agreement (Form 3)
- Time frame
- The LLP must file duly executed LLP Agreement with ROC within 30 days of Incorporation.
- Modes of deposits
- LLP Agreement is a Contract between Partners.
- For non-compliance the Penalty is heavy. Per day penalty is Rs. 100 till the Form is filed.
- Expert Tips
- Many Consultants miss the Form 3 filing and entrepreneurs end up Pending heavy penalties
#3 Depositing of Share Contribution money into Bank Account
- Time frame
- Within Stipulated period of the Incorporation of the LLP, every partner must deposit the contribution into bank account
#4 GST Registration
- Time frame
- If your current supply of goods or service is over Rs. 20 lakh, you need to get a GST Registration (if your business operates exclusively in the North Eastern states, Rs. 10 lakh).
- Tips
- Anyone supplying goods or services to another state, need to apply for GST regardless of turnover.
- Even online service provider serving customers in another State will instantly attract GST registration.
- Get GST registration in 1 day @ Rs. 1999 through Startupwala.com
#5 MSME /SSI Registration
- Requirements
- MSME registration is the procedure to get your LLP registered under MSME development Act for SME benefits.
- Tips
- Get MSME registration in 1 day @ Rs. 1699 through Startupwala.com
#6 Trademark Registration
- Requirements
- Many brands in the world value their trademark more than their any other physical assets and want to protect it through; Trademark Registration.
- Tips
- Get Trademark registration in 1 day @ Rs. 1499 through Startupwala.com
#7 Accounting Process
- Requirements
- Get your Invoicing, book keeping and cash flow management set right from the beginning
- Tips
- Startupwala gives away free Online Invoicing and cash flow management software with automatic Bank account syncing for its AMC clients which starts @ Rs.667 per month.
#8 LLP ROC Filing of Annual Return
- Requirements
- Every LLP is required to file its Annual Return (Form 11) with the ROC by 30th of May. The Financials including Balance Sheet, Profit and loss account (Form 8) to be filed by 30th October.
- Importance
- The ROC Annual Filing is an annual event giving details of Management, Financial performance and Governance of LLP to the ROC under whose jurisdiction the LLP's registered office is located.