Business Registration Certificate for Sole Proprietorship A sole proprietorship is one of the simplest and most common business structures, especially for small businesses and individuals. It’s a business owned and managed by a single person, and there is no legal distinction between the owner and the business. While setting up a sole proprietorship is straightforward,… Read More »
Sole proprietorship vs OPC Here are the notable distinctions between an OPC (One Person Company) and a sole proprietorship: Legal Structure: OPC: An OPC is a legally recognized entity that is registered under the Companies Act. An OPC (One Person Company) is recognized as an independent legal entity distinct from its owner. Sole Proprietorship: A… Read More »
What is a Sole Proprietor Business License A sole proprietor business license is a vital legal document that allows individuals to operate a business as sole proprietors. This business structure is the simplest and most common form of ownership, where one person owns and manages the entire business. Understanding the significance of this license… Read More »
Registration of Sole Proprietorship Sole proprietorship registration is the process of officially establishing and legalizing a sole proprietorship business. While the registration requirements can vary depending on the jurisdiction, the general steps involved in sole proprietorship registration are as follows: Choose a Business Name: Select a name for your sole proprietorship. You can use your… Read More »
When Mudra Yojana Was Launched The Mudra Yojana, officially known as the Micro Units Development & Refinance Agency Yojana, is a significant initiative by the Government of India aimed at empowering small businesses and entrepreneurs. Launched on April 8, 2015, the scheme was introduced by Prime Minister Narendra Modi as part of the government’s broader… Read More »
Can I run multiple businesses on a single GST as a sole proprietor Yes, as a sole proprietor, you can run multiple businesses on a single GST registration. However, you would need to mention the details of all your businesses while applying for GST registration, including their names, addresses, and types of goods or services… Read More »
Can I Use a Single GST Number for Selling Products and Services In India, the Goods and Services Tax (GST) is a comprehensive tax system that has streamlined the taxation process for businesses. A common question among entrepreneurs and small business owners is whether they can use a single GST number for selling both… Read More »
GST registration If your GST registration application for has been rejected, you should carefully review the reasons provided for the rejection and take corrective action accordingly. The most common reasons for rejection include incomplete or inaccurate information in the application, non-submission of required documents, and failure to respond to queries or notices from the tax… Read More »
The documents required for registering a home-based business The documents required for registering a home-based business for GST registration are as follows: 1.PAN card of the business owner2.Aadhaar card of the business owner 3.Proof of business ownership (for example, rental agreement, NOC or electricity bill) 4.Bank account details 5.Digital signature certificate (DSC) of the authorized… Read More »
Can I add a new HSN code addition after GST registration When a business registers under the Goods and Services Tax (GST) in India, it’s required to declare its goods and services using HSN (Harmonized System of Nomenclature) codes for goods and SAC (Services Accounting Codes) for services. These codes are critical for tax compliance… Read More »
