Company registration, GST and compliance for founders across India

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The jargon of starting a business, in plain English.

MoA, DIN, SPICe+, ROC: registering a company comes with a lot of new words. Here's what each one means and why it matters to you.

A

AGMAnnual general meeting

The yearly meeting where a company's shareholders approve its accounts. Most companies must hold it by 30 September.

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AoAArticles of Association

Part of your company's rulebook. It sets out how the company is run: how directors are appointed, how meetings work and how shares can be transferred.

Apostille

An official stamp that makes a document signed in one country valid in another. Foreign founders need it on the documents they sign abroad.

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Authorised capital

The most a company is allowed to raise by issuing shares. Stamp duty is charged on it, so most founders start at ₹1 lakh and increase it later.

C

CINCorporate Identity Number

The unique number every company gets when it's registered. It appears on your certificate of incorporation and your letterheads.

D

Designated partner

A partner in an LLP who is responsible for its filings and compliance. Every LLP needs at least two.

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DINDirector Identification Number

A unique number every company director needs. You get it once and keep it for life, across every company you're a director of.

DIR-3 KYC

A filing that confirms each director's identity and contact details. If it's missed, the director's DIN is switched off until it's filed with a late fee.

DPIITDepartment for Promotion of Industry and Internal Trade

The government department that recognises startups under Startup India.

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DSCDigital Signature Certificate

An online signature used to sign government forms. Every director or partner needs one, after a short video check.

F

FC-GPR

The form a company files with the RBI after it issues shares to a foreign investor.

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FEMAForeign Exchange Management Act

The law that governs foreign investment in Indian companies and money moving in and out of India.

FiLLiP

The main form used to register an LLP with the government.

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G

GSTINGST Identification Number

Your 15-digit GST number. It goes on every invoice once you're registered.

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GSTR-1

The GST return where you report your sales, monthly or quarterly.

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GSTR-3B

The summary GST return where you work out and pay the GST you owe.

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I

INC-20A

The declaration a new company files within 180 days to confirm its shareholders have paid for their shares and it has started business.

Input tax creditITC

The GST you paid on your business purchases, which you can subtract from the GST you owe on your sales.

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L

LLPLimited Liability Partnership

A business run by partners where each partner's personal assets are protected. It has fewer yearly filings than a company.

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LLPINLLP Identification Number

The unique number every LLP gets when it's registered.

M

MCAMinistry of Corporate Affairs

The government ministry that registers companies and LLPs and receives their yearly filings.

MoAMemorandum of Association

Part of your company's rulebook. It states the company's name, registered office, what it will do and its share capital.

N

Nominee

In a One Person Company, the person who takes over if the owner dies or can no longer run it.

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O

OPCOne Person Company

A company with a single owner, with the owner's personal assets protected.

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P

R

Registered office

The official address of your company, where government letters are sent. A home address is allowed.

ROCRegistrar of Companies

The government office that holds company records and receives yearly filings such as AOC-4 and MGT-7.

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RUNReserve Unique Name

The government service used to reserve a name for a new company or LLP.

S

SPICe+

The main online form used to register a company. It also applies for the company's PAN, TAN and other registrations together.

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Stamp duty

A state tax paid on certain documents, such as your company rulebook or a partnership deed. The amount depends on your state.

Strike off

Formally closing a company so it's removed from the government's register and its filings stop.

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T

TANTax Deduction and Collection Account Number

The number you need before you can deduct tax (TDS) from payments such as salaries or rent.

TDSTax Deducted at Source

Tax you take out of certain payments, like salaries or professional fees, and pay to the government on the other person's behalf.

U

Udyam

The government's free registration for micro, small and medium businesses (MSMEs).

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