Post Partnership firm registration requirements:
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Bank account: To open a bank account in the name of the partnership firm within
30 days from the date of registration.
Intellectual property registration: Intellectual property is an important aspect as it
provides protection to the trademark and patents from being infringed. Hence the
partnership firm after being registered must also go for the registration of
intellectual property.
GST registration: Goods and Service Tax registration is required only if the business
has an annual turnover of Rs. 40 lakhs (in some states 20 lakhs). GST is compulsory
for businesses related to E-commerce, Export-Import and market place aggregators.
Drafting the documents: Policies and procedures are essential elements to the
growth of a firm. A partnership firm should draft their policies immediately upon
registration.