Bhabhya & Bhairavi Associates Private Limited

Producer companies avail the following benefits:

• Every member of the company will receive a value for the product or products pooled and supplied as determined by the director. The amount will be distributed in cash or by allotment of equity shares. This may be subject to the conditions of the board
• Members can get bonus shares in proportion to the amount held
• Moreover, the additional amount remaining after making provision for payment of limited return and reserves can be distributed as a patronage bonus. This will be in proportion to their participation in business activities either in cash or through equity shares
• Members of the producer company are also eligible to get financial assistance through a credit facility for a period not exceeding 6 months
• Loans and advances against security as specified in articles, upon the condition of repayment within a period of 3 months and not more than 7 years.

A GST return is a document containing details of all income/sales and/or expense/purchase which a taxpayer (every GSTIN) is required to file with the tax administrative authorities. This is used by tax authorities to calculate net tax liability.

Under GST, a registered dealer has to file GST returns that broadly include:

• Purchases
• Sales
• Output GST (On sales)
• Input tax credit (GST paid on purchases)

To file GST returns or for GST filing, check out gst.cleartax.in website that allows import of data from various ERP systems such as Tally, Busy, custom excel, to name a few. Moreover, there is option to use desktop app for Tally users to directly upload data and filing.