Sole Proprietorship Firm – Registration
A business can be conducted in either of the following modes
- Sole Proprietor
- Partnership
- Limited Liability Partnership
- Limited Liability Company
- Society
- Trust
Among these, sole proprietary business do not requires much compliance’s and registrations in comparison with other modes.
Basic registration requirements
- License from local authority, where the business premises is situated
- Registration under Kerala Shops and Commercial Establishments Act
- Registration under Goods and Services Tax (GST)
Corporation or Panchayath license should be obtained to conduct the business. Registration procedure is very simple. You will be required to submit application by online/manually to the corresponding office
Application for Registration under Kerala Shops and Commercial Establishments Act should be made online to labor commissioner
Registration under GST depends on the nature of business and turnover. Generally, If you are selling goods to other states or your turnover exceeds 20 lakhs in a financial year, you will be required to register under GST and ensure compliance’s. Read more on GST Registration requirements
Other compliance required for Sole Proprietary business
- Ensure the electricity connection is changed from domestic to the corresponding tariff slab, if required
- Ensure the water connection is changed from domestic to corresponding tariff slab, if required
- FSSAI license / registration will be required if your business is about food processing or related to food industry.
If you need assistance or have any query on registration of your sole proprietary business, contact the author or comment below
