if you want to start a new online or offline business, sole proprietorship firm is the best option for you. its a very simple business formation for small entrepreneurs who want to test their ideas or start with small capital with low cost of formation.
Steps for register sole proprietorship firm in india for Startups
Key Features of Proprietorship Firm
So as per convenience of the readers we can divide business as 2 Categories.
a) Services Based Business b) Product/Manufacturing/Sales Business
a) Service Based Business -
These type Business are providing services Online and Offline to users. Example are - Website Development/Digital Marketing/Consulting/ECommerce Marketplace/Marketplace Business Models/Tickets and Hotel Bookings/Classifieds Websites or any other type of business which providing the services.
so as a Service Based Business mainly need 2 thing open a current account.
Must Read : How to Apply for Service Tax Registration
b) Product/Manufacturing/Sales Business -
These type Business are selling any product to customers through own website or offline. They are selling VAT applicable products to consumer so these type startups fall in this category.
Example are- ECommerce Website/Importer/Exporter/Selling on ECommerce Marketplace i.e Flipkart/Snapdeal or offline trading business.
so as a Product or Sales category business needs 2 things -
Note - In the starting you can apply for the Shop act license to save the expenses on the VAT/CST. for the Clarification fill up below request form with your Queries.
VAT Registration is State wise so it's Procedure very state to state.
Common Documents Required in Both above cases register as Proprietorship Firm :-
How to Register Proprietorship Firm Online ?
a) For the Service Tax Registration we highly recommend MyOnlineCA Which registered more than 100+ Firms in a month Online through our platform. you can Checkout their Reviews here on Facebook where many Small firms give their feedback on the online registration.
Must Read : Service Tax Registrations Forms for Proprietorship Firm
b) For the VAT/CS Registration or Shop Act License in some state user can apply online but again problem is there is complex online procedure and during the verification officers takes the bribe or raise the issues. so so we recommend take the help from a expert.
We also Recommend to Watch this Video in Hindi where you got the idea about the How to Register a Sole Proprietorship Firm in India.
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