Hi, I am planning to establish a recruitment consultancy (SAC Code 998512 – Permanent placement services, other than executive search services). However, we are only two individuals who would be managing the recruitment consultancy. My questions here are- 1. How do we register for GST ? 2. Since it would require a PAN in the name of the recruitment consultancy, how do we work around this- what should we select -BOI, AOP etc ? 3. We would be running the consultancy from home, there is no definite office space we have purchased. Would it be reasonable for us to mention any of ours residential address from where we would be running our business while registering for PAN ? 4. Once we obtain PAN after completing the necessary formalities, what would be the next step to register for GST? I would be really thankful if any of you would help me with these queries. Regards, Siddharth
Hii Siddharth
1. First you have to registered a Partnership Firm/ Limited Liability Partnership Firm/ Pvt Ltd Company
2. after step 1 apply for PAN
3. After getting PAN card open a Current Account
4. now apply for GST Registration ( for GST registration PAN and Bank Account No is Mandatory)
5. there is no problem to registered Point No. 1 entity at residential address.
Hi Lalit, Thank you for your advice. I might be wrong in asking the following questions- And what might be the procedure if it is a sole proprietorship ? Is current account mandatory? Wouldn't savings account in the name of the consultancy work? Regards, Siddharth
In Sole Proprietorship Your PAN card is used for GST Registration and you can initially registered under GST with Saving Account and after getting registered open Current Account having your firm name and update GST registration later on
1. Since you are two partners, it is advisable to form a LLP or partnership firm. You can also do it under sole proprietorship but in that case, other person will be a salaried employee. You can register for GST after obtaining PAN.
2. Answered above.
3. Yes, you can do so
4. You can register for GST online or we can help you in getting GST registration.
Please feel free to call/ revert in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
Dear Sir,
GST is a PAN based registration. In case of sole-proprietorship GST registration, you need to obtain the PAN of an Individual. For obtaining PAN you can apply online on TIN website.
For GST registration you will require the below docs at the time of registration.
1) One coloured photograph.
2) Copy of cancelled cheque/first page of pass book/bank statement
3) Rent agreement if premises rented or property tax receipt/electricity bill if owned. In your case, if the office space belongs to any one of your individual you need consent letter of the individual who owned the house alongwith any of the above supporting docs.
4) Legally current account is mandatory as saving accounts are for individual only. It is advisable to open current account first and then apply for GST registration if there is no hurry.
5) At the time of registration it will ask legal name and trade name. Mention name of individual on whose PAN GST registration will be obtained and name of business under Trade Name.
Note: Please fill all the details carefully to avoid delay in issuing of GSTN.
Thanks
If two people working together,it is preferred to have partnership firm.But if you wish, sole prop will also do.Individual pan is required and savings account will be allowed for GST .But it is advisable to have current account.
Hi Sidharth
1. You can register through GST portal or seek help from a professional.
2. You can work as a partnership firm if there are 2 partners.
3. Yes, this is possible.
4. Same as 1.
We may assist you with the GST registration process.
