Proprietorship Registration

Overview

Proprietorship Firm has been different for a serviced based business and a product based business. so we divided business in 2 Category.

1. Service Based Business –.

2. Product Based Business –.

So Both Business you have to take following actions: -

a) Apply for the GST Registration.

b) Open a current bank account on the basis of GST Registration Certificate.

Registrations required as per other statute: -

    Registration under Shops and Establishment Act: This is state specific requirement, in some states it is mandatory and in some it is optional, for example in the Delhi NCT it is optional.

    Local Municipality Registration: This kinds of registration are mandated by some of the municipalities and applies to the firms operating in the territorial jurisdiction of the municipality.

    Import Export Code:This is also known as IEC, and is pre-requisite before the proprietorship ventures in to any import or export.

    Trade Mark Registration: Brand Name, Logo, Slogan, Label etc.; are intellectual properties which acquires value over a period of time and it is advisable to protect them under as trade mark.

    Provident Fund Registration: : The moment number of employees exceeds 20 the proprietor is required to get itself registered with the regional office of the Provident Funds Organization. The contribution rate is 12% each from employee as well as employer.

    Employee State Insurance Corporation (ESIC) Registration: : Every organization including the proprietorship concerns employing more than 10 employees having salary more than 15000/- is required to get themselves registered with the concerned Regional office of the ESIC, the contribution to the ESIC is 6.5% wherein 4.75% is contributed by the employer and 1.75% is to be contributed by the employee.

Obligations of a Proprietorship

  • In income tax, business or assessee are the same person.

Required Documents For GST Registration

  • Copy of Rental Agreement (along with NOC from owner)/Sale Deed in case of own property.
  • Telephone or Mobile Bill/Electricity or Gas Bill Scanned copy of Notarized Rental Agreement in English
  • Affidavit from director and shareholders
  • Photographs of Proprietor
  • Email- id & Mobile number
  • Cancelled Cheque
  • Detail of Goods & service

Process

Same as for GST aplication & also if client required to apply for different registeration then document & process change acordingly.