Your cart is currently empty
Goods and services tax (GST) registration is required for all business types. This is also true for sole proprietorships. But there are a lot of different ideas about it. So, in this article, we’ll learn everything there is to know about GST Registration for Proprietorship Firm.
Know about Sole Proprietorship Firm
A sole proprietorship is a business in which one person is both the owner of the business and in charge of running it. A Sole Proprietor is a good choice if you want to start a business but don’t have a lot of money or resources.
It is also the best type of business if you want to run your business plan with the least amount of legal hassle and the least amount of operating costs. In India, you don’t need to go through any legal steps to start a business as a sole proprietor, but some registrations, like GST Registration or MSME registration, are both required and helpful.
Let’s talk about how to register a sole proprietorship firm for GST.
Know about GST Registration
A sole proprietorship is a business in which one person is both the owner of the business and in charge of running it. A Sole Proprietor is a good choice if you want to start a business but don’t have a lot of money or resources.
It is also the best type of business if you want to run your business plan with the least amount of legal hassle and the least amount of operating costs. In India, you don’t need to go through any legal steps to start a business as a sole proprietor, but some registrations, like GST Registration or MSME registration, are both required and helpful.
Let’s talk about how to register a sole proprietorship firm for GST.
When to get GST Registration for Proprietorship Firm?
In the following situations, a sole proprietorship company has to register for GST:
When a firm’s sales or turnover are more than 40 lakh rupees per year
If your annual sales are more than 10,00,000/- in a Special Category State, like the North Eastern States, you have to sign up for GST (Ten lakh rupees)
When a sole proprietorship involves delivering goods from one state to another.
When a business sells goods or services in more than one country.
E-commerce sites like Amazon and Flipkart also need to register for GST.
If the company wants to get a credit for the tax it paid when it bought the goods.
On an opt-in basis
What are the Documents required?
Scanned copy of the owner’s PAN card. Scanned copy of the owner’s Aadhar card. Electricity, phone, or water bill. Bill of Business Location or Premise or Rent Agreement if Office is rented
Statement from the owner’s bank or a cancelled check or passbook. A copy of the owner’s front page. Passport-sized photos of the owner.
Are there any compliances under GST Registration for Sole Proprietorship firm?
Once you’ve registered with the GST as a proprietorship, you’ll have to follow different rules. GST Return Filing is the most important thing to do after signing up for GST.
Contact Us for GST Filing & GST Registration
Call us on +91-8943229346
See GST Filing Packages on https://www.gstsuvidhakendras.org/gstmonthlyfiling/
See GST Registration Packages on https://www.gstsuvidhakendras.org/gst-registration-service/
WhatsApp us on : 8943229346
Click to Chat Now https://wa.me/918943229346
Tag : GST Filing, GST Registration, TDS Filing