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Generally, the registered agent is also the person to whom the state government sends all official documents required each year for tax and legal purposes, such as franchise tax notices and annual report forms. It is the registered agent's job to forward these suit documents and notices to the entity itself. [16]
Registration of a business name for a sole proprietor is generally uncomplicated, unless it involves the selection of a name that is fictitious, or assumed. In many countries, the business owner is required to register with the appropriate local authorities , who will determine that the name submitted is not duplicated by another business entity .
GST/HST audits are done by TSOs. The Refund Integrity program deals only with a credit return, that is, a GST/HST return that requests a refund. The prepayment examination is a restricted audit of input tax credits (ITCs). Post audit is a full audit of GST/HST returns and that covers not only ITC but also GST/HST collected. [citation needed]
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The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
Previously, foreign entity registration was handled through the National Registration Center, which had implemented a streamlined "one-stop-shop" system since September 1, 2007. However, on November 26, 2015, the enactment of Law No. 131/2015 [ 3 ] led to the formation of the National Business Center (QKB) which aimed to simplify business ...