Sole ProprietorshipΒ Β – Starting a Proprietorship firm is the easiest and simplified way of doing a business. you donβt require any type of special registration under any law, however it is advisable to take udyam registration, Shop and Establishment Act registration, Goods and Service
tax registration (GST) etc for giving an identity to your business. You may run this type of firm without any registration also but to open up a current account with bank, bank always ask for some registration proof.
Registrations acceptable by banks for opening a current account of Sole
proprietorship?
1. Udyam Registration.
2. GST Registration.
3. Shop and Establishment Act Registration.
4. IEC (Importer Exporter code)
5. Income tax returns of sole proprietorship firm.
If you Choose us – Our dedicated team will contact you —-> you will be asked
to provide required documents —–> Submission of Registration application by
our team —–> follow up by our team —-> completion of Registration.
Starts at 1999/- only *taxes separate (Highlight this)
FAQ
No, GST registration is mandatory only if turnover of your business exceeds 40 Lakh
rupees (10 Lakh for North Eastern states), however there are certain exceptions to
this.
Registration under GST is generally get done in 7 days, however department may
sometimes take a longer time.
Udyam registration generally gets done within 1 day.
If you are running a shop or a commercial establishment then you mandatorily require
registration under the Act. For this every state has its own Act and regulations.
Time requires for these registrations varies from state to state, generally it is 15 days.