Industrial Accounting and Business Registrations Complete Step-by-Step Guide (2025)

A complete guide on Industrial Accounting and Business Registrations including GST Registration, Udyam, FSSAI, LUT Bond, AD Code, PAN, TAN, IEC Registration, TDS/TCS deduction, GST payments, GSTR-1, GSTR-3B filing, Tally accounting, Balance Sheet, Profit & Loss, ITR filing & tax computation. Best for accountants, business owners, and beginners.

Introduction

Today’s businesses require a strong understanding of industrial accounting, taxation, and statutory registrations. Whether you are an accountant, business owner, freelancer, or commerce student, learning how to manage registrations like GST, Udyam, FSSAI, LUT Bond, PAN, TAN & IEC along with Tally accounting, TDS/TCS, GST returns, and ITR filing has become essential.

This step-by-step complete guide covers everything you need to know to work confidently in the practical accounting and taxation field.

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What is Industrial Accounting?

Industrial Accounting refers to the day-to-day financial management of a business which includes:

• Bookkeeping & Ledger Posting

• Inventory Management

• GST Accounting

• TDS/TCS Deduction & Payment

• Voucher Entries in Tally

• Preparation of Final Accounts

• Tax Computation & ITR Filing

It helps businesses accurately track income, expenses, assets, liabilities, and taxes, ensuring compliance with Indian tax laws.

1. GST Registration – Step-by-Step Guide

Why GST Registration Is Required?

Any business with a turnover above the threshold limit (₹20–40 lakh depending on category) must register under GST.

Documents Required

• PAN of Business/Owner

• Aadhaar

• Address Proof

• Bank Statement

• Business Registration Certificate

Procedure

1. Visit GST Portal → New Registration

2. Enter Mobile & Email (OTP verification)

3. Enter business details

4. Upload documents

5. ARN generated

6. GST Certificate issued

2. Udyam Registration (MSME Registration)

Benefits

• Easy business loans

• Subsidies

• Government schemes & tenders

Steps

1. Visit Udyam Portal

2. Enter Aadhaar & PAN

3. Fill business details

4. Registration completed instantly

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3. FSSAI Registration (Food License)

Required for businesses dealing in food manufacturing, processing, or distribution.

Types of FSSAI License

• FSSAI Basic (Turnover < ₹12 lakh)

• State License

• Central License

4. LUT Bond (Letter of Undertaking) for Exporters

Businesses exporting goods/services without paying IGST must file LUT annually.

Required Documents

• GSTIN

• KYC of Authorized Person

• Proof of Export

5. AD Code Registration for Import-Export

AD Code (Authorized Dealer Code) is required to clear goods at any Indian port.

6. PAN & TAN Application

PAN – Required for income tax filing

TAN – Required for deducting and depositing TDS

7. IEC Registration (Import Export Code)

Use

Mandatory to start import-export business in India.

Procedure

1. DGFT Portal

2. Enter PAN & Business details

3. Upload documents

4. Pay fees

5. IEC issued online

Industrial Accounting on Tally – Practical Guide

Important Voucher Entries

• Sales, Purchase, Receipt, Payment, Contra, Journal

• GST Accounting entries
  TDS/TCS deduction entries

TDS/TCS Deduction, Payment & Return Filing

1. TDS Deduction

• Deducted at the time of payment/credit

• Common Sections: 194C, 194J, 194H, 194I

2. TDS Payment

• Paid through Challan ITNS 281

3. TDS Return Filing

• Quarterly filing using Form 24Q, 26Q, 27Q

GST Payment & Returns (GSTR-1 & GSTR-3B)

GSTR-1

Monthly/Quarterly return showing outward supplies (sales).

GSTR-3B

Monthly summary return showing:

• Output Tax

• Input Tax Credit

• Net Tax Liability

GST Payment

• Paid through GST challan (PMT-06)

• Mode: Net Banking / UPI / Over the Counter

Preparation of Final Accounts

1. Trading Account

Shows Gross Profit or Loss.

2. Profit & Loss Account

Shows Net Profit or Loss of the business.

3. Balance Sheet

Shows Assets, Liabilities & Equity.

These statements help in ITR Filing & financial analysis.

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ITR Filing & Computation

Steps

1. Collect all financial data

2. Compute income

3. Apply tax slabs

4. Claim deductions (80C, 80D, etc.)

5. File ITR on the Income Tax Portal

6. Verify Aadhaar e-Verification
   
   

Conclusion

This complete guide on Industrial Accounting & Business Registrations helps you understand the entire workflow of a business—from registration to compliance, accounting, GST, TDS, and final tax filing.

Whether you are:

• An accountant,

• A tax professional,

• A business owner, or

• A student preparing for job or practice,

these skills will make you job-ready and professionally confident.

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