Proprietorship Registration

Descriptions

Proprietorship Registration

A Sole Proprietorship Firm is the simplest form of business entity in India, owned and managed by a single person. This represents the easiest way to register and initiate a business. All the decisions and management of the business is in the hands of one person.

Advantage of Proprietorship Firm Registration

Let's take a closer look at the benefits of Proprietorship Firm Registration in India:

• Minimal Compliances: A proprietorship firm has very minimal compliance requirements which make it much more preferable option than One Person Company.
• Easy to start: Sole proprietorship is not governed by any specific law and doesn't require mandatory registration. It is the easiest way to start a business entity.
• Lower Cost: The registration costs for a proprietorship are typically lower than those for other business entities, making it a cost-effective choice for small businesses and start-ups.
• Complete Control: The owner enjoys complete control over business operations and decision-making. There are no partners or a board to consult, allowing for quick and direct decision implementation.

Registration required for Sole Proprietorship Firm

For a Sole Proprietorship Firm in India, several registrations are advisable to ensure legal compliance and facilitate smooth business operations. Here are three essential registrations:

• GST Registration: Goods and Services Tax (GST) registration is mandatory for businesses with an annual turnover above the prescribed threshold. It is essential for collecting and remitting GST on sales and services.
• MSME Registration: Micro, Small, and Medium Enterprises (MSME) registration provides various benefits, including access to government schemes, subsidies, and credit facilities. It is recommended for businesses falling within the defined MSME criteria.
• Shop and Establishment Act License: The Shop and Establishment Act regulates the working conditions, employment, and other aspects of businesses. Obtaining a license under this act is necessary for legal operation and compliance.

GST Suvidha Kendra helps register your proprietorship seamlessly. Expert guidance, document preparation, and on-going support make the process efficient and affordable. Contact us to start your successful partnership journey today. 

Document Required

Proprietorship Registration - GST, MSME (Gov Fees Extra)

Pan Card/Aadhar Card

Mobile No./Email Id

Bank statement/Cancel Cheque

Passport Size Photograph

Trade Name and product & Service Description

NOC (No Objection Certifictae)

Copy of Rent agreement (If rented property)

Address Proof of Shop/Branch/Godown/Store: Anyone of the following (Should not be older than 2 months) Electricity bill / Water tax / Municipal Tax/House Tax Bill

Proprietorship Registration - GST, MSME (Gov Fees Extra)

ETA - 9 Days