Hi Friends,
I would like to share my knowledge of EOU/SEZ with you and see if my views can help you with registering you company in a government authority such as STPI/KASEZ...
For getting an EOU certification... you need to be very sure.. that u have to have an EOU license or register under SEZ Rule. Next step is to choose an authority...EOU certification is given by 2-3 authorities.. STPI or an authority similar to KASEZ or Kandla special economic zone...
KASEZ Process:
1. For EOU get Appendix 14-I-A from site, http://www.fedgosr.csez.com/sez/heou/html/h0400how.htm#how13
Other related docs are
1. PAN Card doc
2. Board resolution for KASEZ
3. Board resolution for authorised signatory
3. Cover letter
4. Resume of the authorised signatory
5. Project Report
6. Lease Agreement copy (lease of space more than 700 sq. ft. in space and leased for no less than 6 years)
7. Rs. 5000 DD payable at Delhi to Ministry of Commerce & industry, gov. of india
8. Details of all the directors addresses, pan card no., contact no., email addresses,
9. All directors income tax returns for atleast 3 years/ photo identification proof, Address proof
10. MOA/AOA
11. Banker’s Certificate
All copies in a set of 3.. all duly attested with the authorised signatory (director.CEO) on all the pages
Submit these docs to Kandla office, (better to submit in Kandla rather than at Ahmedabad office).
A call on the report can be expected within 15 days.
Interview can be scheduled (only on Mondays) within 1 month (can take to 3 months in our case)
A LOP (Letter of Permission) is granted to the unit mentioning the industry, address of the unit and terms and conditions to which the unit is bound by.
The unit has to then accept the letter and send it to the Kandla office. Also a letter of Undertaking (LUT) should also be sent to the Kandla office. A format for the same can be obtained at http://www.fedgosr.csez.com/sez/heou/html/h0400how.htm#how13
This LUT has to be properly notarized on a Rs. 100 stamp paper and is to be sent to the DC, KASEZ for its signature.
KASEZ returns the signed LUT along with a Greencard and acceptance letter. These documents are to be submitted to the Customs department along with other documents the list of which can be found at
http://www.fedgosr.csez.com/sez/heou/html/h0400how.htm#how13
Will update you about tips which can be used for handling the customs department..
Enjoy!!!
Rajat
Monday, April 7, 2008
Saturday, March 15, 2008
Executing a Lease Agreement...
Hi Friends,
Today we can learn how a lease agreement will be executed in the current indian system. The lease agreement which i am talking about was executed in the state of Gujarat.. although the duty might differ... the process would be the same...
A lease agreement is not an ordinary agreement in the sense that one needs to pay a total of 4.9% of the total rent as stamp duty + 1% to the government.
A rent agreement can be done in 2 ways
1. Lease agreement – costly.. but is more worth – 4.9%+ 1% stamp duty
2. Leave and license agreement… can be done on 100Rs. stamp paper…
For eg.
Rent – 10000/mon
Deposit – 60000
Other expenses – 2000/mon
Total – 10000*12=120000, 2000*12=24000, 60000
= 120000+24000+60000 = X * 5.9%
= Y Rs.
= that is the stamp duty we need to pay to the registrar.
Step 1:
Go to the Sub-registrar office… it depends on the location of the property in concern… so if u want to get a lease agreement for a property… at navrangpura… that comes in sheikhpur gam – for which u need to go to Polytechnic sub-registrar office…
Step 2: Get the lease agreement printed… and get the franking worth the same as stamp duty.. So lets say u arrived at a stamp duty of Y Rs. u have to get the franking worth Y Rs.
Step 3: Go to the sub-registrar office with both parties… lessor and lessee… and 2 witnessess… and get the leased done…
So that was … lease agreement in 3 simple steps..
Enjoy!!
~Rajat~
Today we can learn how a lease agreement will be executed in the current indian system. The lease agreement which i am talking about was executed in the state of Gujarat.. although the duty might differ... the process would be the same...
A lease agreement is not an ordinary agreement in the sense that one needs to pay a total of 4.9% of the total rent as stamp duty + 1% to the government.
A rent agreement can be done in 2 ways
1. Lease agreement – costly.. but is more worth – 4.9%+ 1% stamp duty
2. Leave and license agreement… can be done on 100Rs. stamp paper…
For eg.
Rent – 10000/mon
Deposit – 60000
Other expenses – 2000/mon
Total – 10000*12=120000, 2000*12=24000, 60000
= 120000+24000+60000 = X * 5.9%
= Y Rs.
= that is the stamp duty we need to pay to the registrar.
Step 1:
Go to the Sub-registrar office… it depends on the location of the property in concern… so if u want to get a lease agreement for a property… at navrangpura… that comes in sheikhpur gam – for which u need to go to Polytechnic sub-registrar office…
Step 2: Get the lease agreement printed… and get the franking worth the same as stamp duty.. So lets say u arrived at a stamp duty of Y Rs. u have to get the franking worth Y Rs.
Step 3: Go to the sub-registrar office with both parties… lessor and lessee… and 2 witnessess… and get the leased done…
So that was … lease agreement in 3 simple steps..
Enjoy!!
~Rajat~
Saturday, February 9, 2008
Let's get to Business!!!
Hi,
I have been motivated to start this blog just to share my the information that i have gathered being in this Web 2.0 industry for some time now. This is just an attempt of mine to explain the nuances by which an entrepreneur can do/must do business.
Since I am currently in India, this has added a new dynamics to this whole situation. What we are right now witnessing in India could probably be compared to the situation in which US of A was in their early 80s and 90s.
That was the time when the computer industry really took off and everything was about IBM/Apple/Microsoft etc. etc. etc. The US economy was booming, exports of Computers were skyrocketing, US software companies were on an acquisition mode doing M&A's around the world. People were actually witnessing what could be termed as "US flexin' its muscles".
And then came hotmail/google/bazee, a bunch of dot com startups raking in the moolah when software was at its very nascent stage. Then came the "bust" or rather "dot com bust" followed by restructuring (another word for slashing jobs).
During this time... a new world order was coming up... internet was playing an altogether different medium of communication... not just of emails/IM's but also Scraps, posts etc.. Blogs, Comments, Votings, rating... all this became more then a feature for the new generation websites... The I in the internet is now for Interactivity... Internet was now about communities, groups etc.
This also led to some start-ups such as Youtube, Facebook become multi-billion dollar business in just no time... How??? Follow the link to find out how ... http://avc.blogs.com/a_vc/2006/09/youtubes_potent.html... Youtube got it right with the financials... and whats was the grail that facebook followed to become a billion dollar enterprise in less then 5 years... Read here... for Youtube... and here for facebook...
The Indian scenario has not been very encouraging with very few companies following the Web 2.0 opportunity. I believe its high time... people spend time investing in these technologies and finding out business in them.
~Rajat~
I have been motivated to start this blog just to share my the information that i have gathered being in this Web 2.0 industry for some time now. This is just an attempt of mine to explain the nuances by which an entrepreneur can do/must do business.
Since I am currently in India, this has added a new dynamics to this whole situation. What we are right now witnessing in India could probably be compared to the situation in which US of A was in their early 80s and 90s.
That was the time when the computer industry really took off and everything was about IBM/Apple/Microsoft etc. etc. etc. The US economy was booming, exports of Computers were skyrocketing, US software companies were on an acquisition mode doing M&A's around the world. People were actually witnessing what could be termed as "US flexin' its muscles".
And then came hotmail/google/bazee, a bunch of dot com startups raking in the moolah when software was at its very nascent stage. Then came the "bust" or rather "dot com bust" followed by restructuring (another word for slashing jobs).
During this time... a new world order was coming up... internet was playing an altogether different medium of communication... not just of emails/IM's but also Scraps, posts etc.. Blogs, Comments, Votings, rating... all this became more then a feature for the new generation websites... The I in the internet is now for Interactivity... Internet was now about communities, groups etc.
This also led to some start-ups such as Youtube, Facebook become multi-billion dollar business in just no time... How??? Follow the link to find out how ... http://avc.blogs.com/a_vc/2006/09/youtubes_potent.html... Youtube got it right with the financials... and whats was the grail that facebook followed to become a billion dollar enterprise in less then 5 years... Read here... for Youtube... and here for facebook...
The Indian scenario has not been very encouraging with very few companies following the Web 2.0 opportunity. I believe its high time... people spend time investing in these technologies and finding out business in them.
~Rajat~
Subscribe to:
Posts (Atom)
