Examining GST Requirements for sole proprietorship business.

The sole proprietorship is a business owned and managed by an individual. In proprietorship there is no legal difference between the owner and business. A sole proprietorship is a simplified and convenient form of business . A sole proprietorship business can be registered under the following:

1. Sole Proprietorship Registration through Udyog Aadhaar under Ministry of MSME.
2. Sole proprietorship registration under the shop and establishment act.
3. Sole proprietorship registration through GST registration. Every business(engaging in sale of goods) which has a turnover exceeding Rs.40 lakhs (for normal category states) and turnover exceeding Rs.20 lakhs (for special category states) have to take GST registration mandatorily. Persons providing services need to register if their aggregate turnover exceeds Rs.20 lakh (for normal category states) and Rs.10 lakh (for special category states).

 However, certain category of persons are required to compulsorily get registered under GST:

• Interstate suppliers
• Casual Taxable persons
• Persons taxable under the reverse charge basis
• Non-resident taxable persons
• Persons required to deduct TDS under GST
• Persons required to deduct TCS under GST
• Input Service Distributors
• Persons making a sale on behalf of someone else whether as an Agent or Principal.
• Every e-commerce operator providing a platform to suppliers to make supply through it.
• Suppliers who supply goods through e-commerce operators who are liable to collect tax at source.
• Online Service Providers providing service from outside India to a non-registered person in India.

• Documents required for obtaining GST Registration for sole proprietorship firms :
• Pan card of the proprietor,
• Aadhar Card of the proprietor,
• Passport size photograph of the proprietor,
• Proof of place of business
• Bank Statement copy that contains bank account number, IFSC code, and address.

GST Registration Documents for Partnership firms and LLPs

Partnership deed

PAN Cards of partners involved

Photographs of partners involved

Address proof of partners involved

Aadhaar card of any authorized signatory

Signatory’s proof of appointment

LLP proof of registration

Bank details

Address proof of principal place of business

GST Registration Documents for Company (Public/PVT/Foreign)

PAN Card of company

Certificate of incorporation

Memorandum of Association and Articles of Association

PAN Card and Aadhaar card of authorized signatory. Please note that the authorized signatory needs to be an Indian in case of foreign companies or branch registration of foreign companies.

PAN Card and address proof of all Directors of the company.

Passport size photograph of all Directors and authorized signatory in JPEG format with size less than 100KB

Board Resolution appointing authorized signatory in PDF format or JPEG with file size less than 100KB.

Bank Account details (For bank account details, a copy of cancelled cheque or extract of passbook/bank statement (containing the first and last page) must be uploaded.  (in JPEG format / PDF format, maximum size – 100 KB)

Address proof of principal place of business [Property tax receipt/ Muncipal Khata copy/Electricity bill/Lease agreement/Ownership deed/Consent letter or NOC from owner (in case of consent arrangement or shared property)