Proprietorship-Documents required for GST Registration under the GST regime for running a business.
There are many types of the constitution of business who can apply for online GST Registration and these are below:
- Foreign Company
- Foreign Limited Liability Partnership
- Government Department
- Hindu Undivided Family
- Limited Liability Partnership
- Local Authority
- Partnership
- Private Limited Company
- Proprietorship
- Public Limited Company
- Public Sector Undertaking
- Society/ Trust/ Club/ AOP
- Statutory Body
- Unlimited Company
- Other
And these all are required to provide documents as per Nature of possession of premises as
- Own premises
- Rented premises
- Shared premises
- Consent premises
- Leased Premises
And now we will know by this post that what are the documents required for GST Registration as Proprietorship firm but before this, we should now
Contents of this post
What is a Proprietorship Firm?
The sole proprietorship is a popular business form due to its simplicity, ease of setup, and nominal cost.
A sole proprietor need only register his or her name and secure local licenses, and the sole proprietor is ready for business.
A distinct disadvantage, however, is that the owner of a sole proprietorship remains personally liable for all the business’s debts.
So, if a sole proprietor business runs into financial trouble, creditors can bring lawsuits against the business owner.
If such suits are successful, the owner will have to pay the business debts with his or her own money.
The sole proprietorship is the simplest business form under which one can operate a business.
And the sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.
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