I am running a proprietorship firm registered under my individual PAN and no GST number because turnover is under limit . Now I am planning to start Trading firm ( proprietorship) for which I have to take GST Number otherwise I will not get Input credit . My question is if I take GST number for second firm, will it applicable to first firm also because of single PAN ? Will I have to submit GST return for both firms? or only second firm GST Return will be sufficient? OR I should go for PARTNERSHIP Firm for second firm to keep it separate.
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Two Proprietorship firm one has GST second doesn't
Replies (5)
All the proprietorship firms under single PAN will have to be reported under single GSTIN, so better go for second alternative...
So what happened?
yes the aggregate turnover will be counted from all businesses from single PAN so turnover of both firms will have to be shown even though one GST number can be taken and business (goods or service supplied) of both firms may be added in that including showing the additional business place.
Both the firms are included in GST. However, if you are eligible and interested, you can opt for Family Business and can opt for HUF. HUF will be treated as a different person
Once you register under GST then it is applicable to all of your businesses.
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