News : Recently Government of India talk about the doing business in india easier due to Unique ID Registration. Its single-window clearance mechanism where entrepreneurs have to apply just only one Unique ID Registration.
Before that for the registration a company in India we have to apply for the Company Identification Number (CIN) from Registrar of Companies and after that they have to apply for the PAN Card Number. Now government plans to make the permanent account number (PAN) as the Business Identification Number (BIN) for companies and firms. The move is aimed at doing away with the need for separate registration with authorities ranging from the registrar of companies to the direct and indirect tax wings, the labour department and for export and import.
So from this step during the company registration timeline which takes nearby 15 to 20 days even after the Introducing INC 29 Form cut down the time taken for the Company Registration in India.
Credit : TimesofIndia.
The government is also trying to make eBiz issue unique ID for all registrations. Although the eBiz project was conceived as the one-stop shop for all clearances from central, state and local authorities several years ago, it has not yet produced the intended results with even central government agencies not fully linked to the portal. The department of industrial policy and promotion (DIPP) is now going to make a fresh bid to get all agencies and their service providers (the private sector IT companies such as Infosys and TCS) to come on board for the project.
Must Watch Below Video where TMF Group is Explain clearly about the Why Doing Business in India easier.
Source : TimesofIndia