Business & Legal Glossary

A mandatory yearly meeting of shareholders to discuss company affairs and approve financial statements.

A yearly filing with RoC containing company details, shareholding, and director information.

A document that defines the rules and regulations for a company's internal management.

The maximum amount of share capital a company is authorized to issue to shareholders.

A formal meeting of company directors to discuss and make decisions on company matters.

A unique 21-digit alphanumeric code assigned to every company registered in India.

An electronic form of signature used to authenticate digital documents, mandatory for company directors.

A unique 8-digit identification number allotted to individuals who are appointed as directors of companies.

A system where B2B invoices are electronically authenticated by the GST Network before issuance.

An electronic document required for movement of goods worth more than Rs. 50,000.

A retirement savings scheme where employer and employee contribute monthly towards the employee's retirement corpus.

A social security scheme providing medical benefits and insurance to employees earning up to Rs. 21,000 per month.

The regulatory body responsible for food safety standards in India, issuing licenses for food businesses.

A unified indirect tax levied on the supply of goods and services across India, replacing multiple taxes.

GST (Goods and Services Tax) is a comprehensive indirect tax levied on the supply of goods and services in India. Introduced on July 1, 2017, GST replaced multiple indirect taxes like VAT, excise duty, and service tax with a single, unified tax structure. It follows a destination-based taxation principle, meaning the tax is collected at […]

Periodic filings declaring sales, purchases, tax collected, and tax paid under GST.

A unique 15-digit identification number assigned to every registered taxpayer under GST.

A standardized system of names and numbers to classify traded products, used for GST invoicing.

Credit that businesses can claim on GST paid on purchases used for business purposes.

A business structure combining features of partnerships and companies, offering limited liability to partners.

The charter document of a company defining its name, objectives, capital, and scope of operations.

Classification of enterprises based on investment and turnover, eligible for various government benefits.

A company form that can be started and operated by a single person with limited liability protection.

The amount of share capital actually paid by shareholders to the company.

A unique 10-character alphanumeric identifier issued by the Income Tax Department for tax purposes.

The government authority responsible for registering companies and LLPs, and maintaining company records.

An integrated web form for company incorporation that combines multiple registrations in a single application.

A 10-digit alphanumeric number required for entities deducting or collecting tax at source.

A mechanism where tax is deducted at the time of payment and deposited with the government.

A distinctive sign or symbol that identifies and distinguishes products or services of one business from others.