A Sole proprietorship is a business which is owned, managed and controlled by a single person. It is one of the most common forms of business in India, utilized by small businesses operating in the unorganized sectors.
A proprietorship is recognized by o GST registration. It has too many shortcomings, such as unlimited liability of proprietor, and it does not have continuous existence. For these reasons, it is considered by small merchants and traders as a business structure.
Choose proprietorship because
A sole Proprietorship is cheaper as compared to OPC.
A proprietorship with income of less than Rs. 5 Lakhs per annum is not required to pay income tax.
Easy to establish with less formalities.
Documents For GST Registration of Proprietorship
PAN card, aadhaar card, and a photograph of the sole proprietor
Bank account details- a copy of canceled cheque or bank statement saving or current
Address proof of office
Own office Copy of electricity bill/property tax receipt Rented office Rent agreement and No objection certificate (NOC) from the owner