Registration Archives - Page 13 of 13 - Business , Financial & Legal Consultant In India

July 30, 2018July 30, 2018

Difference Between Brand Name And Company Name

People often get confused about between the brand name and company name. they fail to understand the difference between the two and believe that company name and brand name is one of the same thing.
However, in the law, there exists a clear definite distinction between the two. It is important for the business owner or any other person to know this distinction to get it registered. We will take a deeper insight into a meaning and difference between the brand name and a company name with this blog.

Trademark or Brand name:

Brand name is the name that is given to the products and services of the company. This name can be used by the company for advertising and sales purposes. There is a clear distinction between the business name and a trading name. unlike the company name, the brand name does not mandatorily have to end with the Private Limited Company, LLC, Corp, or other legal ending.

On Brand name Trademark is to be given on trading name, i.e. by which company is doing its trading.

Company Name:

The name given to the Organization registered under the Companies Act is known as company name or trade name. simply stated that it is a an official name under which the sole individual or the group of individuals decides to carry on some business activity. The Suffix in the name of the
company depends upon the type of business structure under which it is currently operating. For instance, the complete name of Private Limited Company will be ABC Private Limited Company. A company name could be a private Limited Company or a Limited Company, or LLP company could be there.

Key Differences Between a Brand Name and a Company Name:

1. Multiple brand names could be registered under the name of one company name. For Instance, The Hindustan Liver Limited Company possesses the famous brand name like Lux, Wheel, Ponds, Vaseline and Surf Excel.
2. The company is an Artificial person on whose name the various statutory requirements are fulfilled. Like the income tax returns are filed, Annual filing is made and various other legal proceedings are carried out. Whereas Trademark is just a name given to the products and services that are used as an intangible asset for the company.

3. The name of the company can be registered by filing the RUN form with the ministry of Corporate Affairs. Whereas for obtaining the Trademark registration, the application, Trademark Application has to be filed for the Trademark Department, and trademark can Application shall be applied through IP India Government website, through which certain
government fees have to be given to the Government in order to apply for the Trademark registration.
4. The Applicant is required to conduct the company name search before applying for its registration. Also the search should be conducted in the trademark database. Whereas there is no such requirement for trademark registration. Before applying for trademark registration. Before Applying for Trademark registration, an applicant must conduct the free public trademark search. Unlike company name thete is no requirement to search for
company name database.

So in case you are looking for trademark registration online in India , feel free to contact BIATConsultant.com or quick fill in the form below

[contact-form][contact-field label=”Name” type=”name” required=”true” /][contact-field label=”Email” type=”email” required=”true” /][contact-field label=”Website” type=”url” /][contact-field label=”Message” type=”textarea” /][/contact-form]

July 20, 2018

What Is The Common Law In Trademark ?

You know even if your Trademark has not gone through the usual trademark registration, you are still the owner of trademark from the point when you start to use it. The law is there to give protection to unregistered Trademark, which is also known as passing off .

What can be a common law In Trademark:

Much like the Registered Trademark, common law trademark can also be anything from symbols, words, graphics, or any such combination. As long as it can distinctly identify your product from another, it can be a common law. A common law Trademark can use “TM” symbol along with their marks when they are trading.

The Difference between a Registered Trademark and Common law Trademark:

1. A Registered Trademark can make a use of ‘R’ symbol while trading whereas in a common law mark, owner can use the ‘TM’ symbol while trading.
2. When it comes to Registered Trademark, Trademark owner can enjoy his right to the fullest and can sue Trademark infringers whereas protection in common law is limited and restricted.
3. Registered trademark can cover a lot more grounds as compare to common law mark. It means that common law trademark is restricted to a very specific geographical region.There are certain rights which are given in common law trademark
1. If you and another person have been using the same trademark while other person has pursued with trademark registration, then two individuals can oppose his mark once it is published in the journal, in such cases the registration is being awarded on the basis of prior usage, i.e. who has been using the trademark earlier.
2. Passing off remedy: this remedy is provided when an individual is using a product from many years and has earned goodwill and become known to the public then you have right to assert your claim towards trademark that are confusing and doing the same business as you. This form of protection is called as ‘passing off’ of Trademark.

Common Law V/s Registered Trademark Registration

This is very common question which comes in mind of every individual when we talk about registered trademark and common law mark. So one should always go for trademark registration as it gives you exclusive right to use the Trademark, and it also gives you right to sue the Trademark Infringer who is illegally or wrongfully using your trademark without your consent.

However Common law is a good protection but it is only for a short term. To that end, if you want a more robust protection when it comes to the matter of protecting the mark that signifies your trade, you should go with Registration.

BIATConsultant is leading consultancy firm in India . In case you are looking for trademark registration online , or is facing any conflict regarding the same feel free to contact us at +919650476099 .

July 17, 2018July 17, 2018

IMPACT OF GST ON CA PROFESSIONALS

New tax system has brought new opportunities in India whether it is chartered
accountant or computer science professional. GST took more than a decade to get passed in both houses of the parliaments. Due to this, there is a very
convenient way to bring a tax reform in India. Everywhere there is a buzz
about the economic improvement due to this taxation system. GST has had a
very positive effect on the businesses and everyone is thankful for this system.

This system has brought one tax policy in one nation and reduced the
complexity of doing business which has resulted in more revenue generation
and more profits. All the rules are similar to whole country. Let us try to figure
out how GST has impacted chartered accountants in India.

What chartered accountants are charging under GST?

After the implementation of GST, there is been a very sharp hike in the salaries
of the chartered accountants and chartered secretaries. Previously, the
chartered accountants used to charge around INR 2500. Now, after the GST
the fees of chartered accountants have been shot up to INR 25000. The chief
reason behind this hike is the load over the CA community. There are lot of
procedures involved in the GST process which has led to this rise.

How GST changed the chartered accountant work scenarios?

When the VAT system was in place, most of the work was done manually
which resulted in the waste of time and money but with the effect of GST,
everything has come online and it has improved work efficiency. With the VAT
system in place, professional are found working in one or two place because
each state has different rules which used to create problems but with GST
rules are same for every state due to which ease of business has increased and work area has expanded.

During the VAT times, the returns were uploaded on a monthly basis and you
have to fill the sales and purchase register and main returns too. If there is any
error, you have to repeat the whole process again and again until the problem
is rectified. This was a very hectic process which wasted lot of time. But with
the coming of GST, we just have to fill the details in the client’s sales register and all the information gets displayed in the purchaser’s purchase register. So due to this process, the time and effort taken to fill data in the purchase and
main form register has greatly reduced. This issue of mismatch data has been
greatly resolved.

Next step for chartered accountants?

India is a developing country with a huge number of start-ups and small
companies. GST has brought new taxation system into place. So the demands
of individuals who have knowledge of this new system have increased sharply.
GST is a privilege for the chartered accountants. It has increased the fees of the chartered accountants. It has helped not only old chartered accountants but also the new chartered accountants. If you are new CA and you have the
knowledge of GST, then you will be very high demand.

Newly certified chartered accountants have a big advantage of grabbing this
big opportunities. They can offer online services and join forums to answer
queries asked by taxpayers. The chartered accountants are very essential
person of a country. They have to keep themselves updated about the latest
laws and rules of the GST. As far as the future of chartered accountants is
considered, they have a very bright future. GST has helped in building a better
taxation system in India.

So in case you are looking for CA in India or for GST registration online , you can consult BIATConsultant to get it all done under one roof .

July 17, 2018

HOW GOODS AND SERVICES TAX (GST) HAS IMPACTED BUSINESSES IN INDIA

It has been quite some time since GST has been implemented in India. The
main objective of the new tax regime was to make one tax system in one
nation. Let us look at the way goods and services tax has impacted business in
India.

Small and medium businesses
The central goods & service tax (CGST) and state goods & service tax (SGST) has been combined in the new tax system. According to the new system, all the companies that have a turnover more than 20 lakh (10 lakh in some states) have come under the GST scanner. Previously the tax exemption for the SMEs was 5 lakh while the new tax exemption is increased to 20 lakh. This has created a positive impact and generated lot of revenue for the government.
Ease of doing business has been increased as double taxation policies have
been removed. Tax burden on new business has been reduced and faster
delivery of the services has been the positive effects in the implementation of
GST.

How GST impacted real estate industry?
Real Sector is one of the most important sectors in India. GST has brought lot
of transparency and relief in real estate sector of India.
Under GST 12% tax has been levied which was 6.5% before GST tax. Due to
GST, the developer either has to bear high tax burden or will have to increase
the net price of the infrastructure to meet the new tax requirements. As the
ready-to-move-in projects are kept out of GST, developers can get some
benefit for the construction that are in initial stages. Cost of cement and other
building material has increased with the new tax system. So the impact has
been neutral in real estate industry because although some building material
prices have been increased but it has cut down additional costs and provided a
transparent medium.

Impact on automobile sector

Automobile sector is one of the most important sectors. This sector produces a very large number of cars and bikes annually. The central and state
government imposed several taxes like excise tax, road tax, VAT etc. under the
GST tax. GST has hugely impacted the automobile industry. The government
increased the tax from 15% to 25% on mid-sized vehicles. There is some good
news for the importers as they would be able to claim excise duty and VAT.
GST on the cars and bikes was set under the 28% mark. The overall result is
that the implementation of GST has reduced the cost of buying bikes and cars.
GST has resulted in a good growth in this sector.

How GST has impacted FMCG companies?
The GST has impacted FMCG companies very strongly. GST has made possible more purchase of FMCG products in the festive season. The FMCG companies like Pepsico, Dabur has generated lots of profit in the festive season. Companies have been dependent on the advertisement to boost their revenue during the non-festive season.

So in case you are looking for GST registration for selling of goods or services , consult BIATConsultant experts to guide you throughout the process and will get your GST number registered