Do you have company startup aspirations? If the response is affirmative, let’s go on to the next question, “Does registration need to be required to start your own web store”? There are a few registration procedures that must be obtained, thus the answer is yes.
Company registration – Is it Necessary ?
Once your company is operational, you should do company registration. This procedure secures both your company and the brand as a whole. Your company may be a corporation, firm, or limited liability partnership. The sole proprietorship is an alternative structure for registering a business.
The preferable option is to register your company as a sole proprietorship rather than a corporation. Consider Sole Proprietorship if you wish to sell things via online marketplaces or build your own website.
Individuals, corporations, or limited liability firms can possess sole proprietorships. This proprietorship’s owner and business are similar. The owner has complete control over every area of the company and is entirely accountable for any financial matters. Procedure for new company registration is completely online
Open a current account in the name of your company when you’re ready to launch your internet business. To keep a current account, your company must be legally recognised as a separate organisation. Consequently, you must register with the tax authorities and obtain establishment licences.
You should comprehend both the wants of consumers and the ease of your business when creating an online website. The majority of individuals will prefer to pay online. In such circumstances, you should register your business. You may save time by collecting all payment gateways in one location. This merely enables you to integrate with the majority of well-known platforms. Thus, filing a legal online proprietorship registration helps you avoid issues and misunderstandings. Your registered business is more likely to obtain trust this way.
Documents Required For Company Registration
- You must own a PAN card. in the absence of one. A Permanent Account Number is referred to as PAN.
- It is necessary to present legitimate government identification documents such as passports, voting ID cards, and Aadhar cards.
- A duplicate of the bank statement or cancelled check is required.
- Additionally, you need a copy of your landline, energy, and water bills.
- An NOC of the Owner must already exist or be created. Where a No Objection Certificate (NOC) is referred to.
- If you have hired a structure to keep your stocks, you must present a rental agreement.
- Along with the delivery, you must certify that you will abide by the directive or request.
Registration of GST
No matter what you are selling, be it a service or a product, you must register for GST if your business’s yearly sales or turnover surpass Rs 20 Lakh. Additionally, if your income exceeds Rs. 10 lakh, you must register if you live in a North Eastern state. GST, short for goods and services tax, is used here.
While keeping in mind that in the past, numerous tax registrations had to be submitted in order to open a firm, including VAT Registration for traders and Excise Registration for manufacturers. However, just GST registration is required for all compliances according to GST policy.
Registration of Trademark
Along with other benefits, trademark registration guards the reputation of your company. Protecting your brand name and reputation is crucial to preventing unauthorised copying.
To put it simply, a lot of rival businesses decide to use the same name.
The same name can lead to confusion between a company and its product. The registration of trademarks is crucial in order to remove any issues of this nature. By doing this, you can protect your brand name’s copyrights and make sure that no other organisation or website can use the same name as you.
Now that you are aware of the steps and requirements for registering a business as an internet retailer.