A proprietorship firm is recognized by its tax and GST registrations. When you set up a proprietorship firm online, you also have to register for GSTIN to comply with regulatory and tax compliance. Goods and Services Tax (GST) is a historical reform in Indian tax mechanism which has consolidated various taxes levied at central and state level. It has improved ease of doing business in India by lessening the tax hassles of entrepreneurs.
A proprietorship firm is required to register for GST as per the business laws. It helps you submit the required taxes and file the tax returns.
Documents Required for GST Registration for Proprietorship Firm
Here is a list of all important documents required for GST registration for proprietorship firm in India. Check all the documents prior to the submitting GST application online.
- Identity proof of proprietor (Voter ID/ Aadhar Card etc)
- PAN Card of the proprietor
- Passport size photograph of the proprietor
- Bank statement of the proprietor
- Cancelled cheque of the Bank account
- Address Proof of the office space
If you have not submitted correct documents for GST registration application; it can lead to cancellation of your application filing.
GST Registration Process for Proprietorship Firm
Here is a step wise guide to apply gst for proprietorship firm online. You can submit GST registration application easily by following the below process to register for GSTIN for proprietorship firm.
- Go to the official GST application portal
- Click “New Registration” option in “Services” section
- Fill the new registration form and click Proceed.
- Now validate your phone number and email by OTP.
- On successful OTP validation, you will get a TRN which will be used to apply and submit GSTIN application form.
- Now login into the portal using TRN and OTP on mobile.
- Now fill business details on subsequent form.
- On next form, submit the details of proprietor of the firm.
- After successful submission of form, you will have to submit details like authorized signatory, place of business, details of goods and services.
- Next step is to submit bank account details and click save and continue.
- On next window you will be asked to verify the application details.
- On successful confirmation, ARN will be generated which will be used for tracking of GSTIN application status.
This is the complete GST registration process for proprietorship firm in India. Get abreast of all information and register for GSTIN easily. Although if you are not a professional CA or CS, you may find it difficult to submit online GST registration application inspite of knowing whole GST registration process and document required for proprietorship firm.