Shopping online is very common nowadays as it is a convenient way to buy things and with just one click you can get the job done without wandering in the market.
Is company registration required for Online Sellers?
Today, most of the customers do not visit the retail shops and aren’t at the mercy of the traders selling a particular merchandise. The current scenario of online shopping has in a true sense transformed the market and has become a customer-centric market from a seller-centric.
Do you
feel inspired enough for starting your own business where you could sell
your products or services online in India? If yes, then you need to
follow and go through some of the steps listed below.
Why Is It Necessary To Register Online Company?
Basically,
if you’re doing any business are required to register such business
either as a Company or a Firm or an LLP (Limited Liability Partnership).
Instead of going for company registration, you could register the
business as a Sole proprietorship. If your objective is to sell goods
through online marketplaces or create your own web store, then consider
for proprietorship while indulging in the retail business.
A
proprietorship is a business form which is run by a sole person and
wherein there isn’t any key distinction between the business and the
owner. The owner has the direct control of every element of the business
and is accountable for all the finances of that business and might
include loans, debts, loss etc.
When
doing online business, you have to maintain a current account in the
name of your business. To do this, you need to ensure that your business
is a legal entity. To prove this, you get registered with the taxation
authorities and also obtain establishment license.
For your
web store to gather online payment, you need to register your business.
This method will permit you to integrate your site with the recognized
gateway. Furthermore, registering online proprietorship assists you to
avoid hassles and confusions with the law & the registered business
is likely to receive more trust.
Documents needed for starting Sole proprietorship business
- PAN card (Permanent Account Number) and valid government recognized ID proof (passport, voter card, aadhar, etc.) of the proprietor
- Bank statement or a copy of a cancelled cheque
- Copy of electricity bill/ landline bill, water bill
- NOC (No objection certificate) of the Proprietor/owner
- Rental agreement (if premises are rented)
- Declaration to comply with the provisions
GST Registration
Whether
you are offering services or product, you need to register for GST (
Good and Service Tax) if the sales or turnover cross more than INR 20
lakh annually or INR 10 lakh in case the establishment is in the North
East States. Now, it is something which needs all your focus. Earlier,
you were required to apply for various tax registration for starting a
business. Registration for VAT for traders, excise registration for
manufacturers, service tax for service providers, etc. However, under
the Goods and Service Tax regime, only GST registration is enough for
all the compliances.
Trademark Registration
Apart
from the registration mentioned above and GST registration, safeguarding
your brand image is another important task. In today’s world of
cut-throat competition, maintaining and persevering your legal right is
very crucial.
Therefore, a trademark registration would assist you in securing your brand name so that no one could use it or copy it without your authorization.
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