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Petrol pump incorporation

11 November 2021

what is the procedure of petrol pump incorporation ?

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Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (7965 Points)
Replied 13 November 2021

a private limited company is preferable for starting a petrol pump vs a limited liability partnership (LLP), as the sales turnover in a petrol pump will be very high. All LLPs having a turnover of more than Rs.40 lakhs require to have its accounts audited. Hence, the cost for compliance of a company and compliance of an LLP will be similar, making a company more preferable in the long-term.