The Essential Documents Required for Sole Proprietorship GST Registration

Establishment of the sole proprietorship required minimum documents. They have lesser regulatory compliance requirements. They are preferred by startups and smaller businesses with less clients.Through tax registration they get recognition as per rules and regulation.getting GST Registration is necessary for the sole proprietorship when certain conditions are fulfilled. They required minimum documents for registration.

Professional utilities helps to get the GST Registration in quick and hassle free manner.

There are certain condition under which sole proprietor need to get Registration

• If the sole proprietor is engaged in inter-state supplies of goods.
• There is sale of goods and services between different countries.
• Sole Proprietor gets voluntary GST Registration. Proprietor wants to get the benefit of the Input Tax Credit.
• Turnover of the proprietorship business exceeds 40 lakh rupees per year.
• If a business is engaged in E-commerce then sole proprietors need to get GST Registration regardless of the turnover.
• If sole proprietor operates in special category states such as North Eastern States where turnover is more than 10 lakh

Documents required by sole proprietor for gst registration are mention as below -

Personnel Documents

PAN Card of Proprietor - The sole proprietorship need to submit PAN Card with income tax department.all document prerequisite should match with PAN Card detail.

Aadhar Card of Proprietor - This one of the most important documents of the GST Registration. This is the base of the income tax return.

Address proof and Identity proof of the Director - Directors need to submit address proof also if the house is rented or owned.

Bank Account

Photo

Digital signature

Letter of Authorization

Personnel Documents

Address Proof of Business Location - Businesses need to submit proof either house is rented or owned like Telephone bill, Electricity bill, water bill or rent agreement

Proof of ownership or business registration

To get GST Registration Sole Proprietor must follow steps as listed below.

Step 1 - First log in, then fill Part A of Form GST REG 01. In the form fill the name of the company or applicant, a mobile number, and an email address. That email and mobile number is verified, a TRN number is generated.

Step 2 - Next Part B of Form GST REG 01 is filled, where banks and approved signatories for the corporation are both listed. Then, ARN No. is generated.

Step 3 - Upload the necessary documents in the prescribed format. Documents include Bank statements, Aadhar cards, PAN cards, and other papers.

Step 4 - After loading the form and documents. The officer verifies those forms and documents and determines whether the application's approval or denial, the applicant has three to four days to provide any kind of justification.

Step 5 - After acceptance of the form GSTIN and GST Certificate is issued in GST REG 06

• Confidence of the Sole Proprietor increases with GST Registration. With this they can expand their business.
• With GST Registration the reputation of the firm increases. They have GST Registration as a document as proof. These proofs can be used in other important work as proof.
• After GST Registration they can claim input tax credit. Which in turn increases the profit of the Firm.
• Improvement in logistics efficiency which helps the sole proprietors to increase their business.

As sole proprietors are usually small businesses or startups so they may not have required time and resources. Sometimes getting GST Registration may prove hectic and difficult so professionals prove to be helpful.

Professional Utilities helps to get GST Registration at Rs. 1499 /- .

Sole proprietor is a one person business and has unlimited liabilities. Even though registration is not required by the sole proprietor unless its turnover exceeds the threshold limit. To get GST Registration required documents need to be submitted along with the form. With GST Registration the sole proprietor gets many benefits such as increase in credibility, input tax credit, increase in profit and many others. Contact professional utilities to get proprietorship registration quickly.