Dear Friends,
Please help and advice :
1. My Wife’s name is Neelam and she is having a saving account number with the same name. We want to sell on E Commerce Sites by name of Neelamz for which they require VAT / CST & Service Tax No.
2. Can we Apply for the VAT/CST no through Saving Account or we need to open a Current Account on the Firm’s Name?
SOS Please.
Major Abhishek
+91 9634998373
asha chaudhry
abhishek – pls read this post – it might help – https://www.therodinhoods.com/forum/topics/the-a-to-z-of-one-person-company-registration-in-india
but pls ping tanya on the ASK TANYA PAGE – she might be able to guide you.
https://www.therodinhoods.com/forum/topics/ask-tanya-about-online-selling
Sharad Singh
Hi Abhishek,
Please see if the following helps https://www.charteredclub.com/service-tax-registration/
My reading of the link is:
1. Service Tax not required for less than 9 Lakhs sales
2. It has to be a legal entity registered. They need MOA, AOA of the organization. So it seems, Savings Account ‘might’ not work
Please note that the above is just my reading of it. I suggest get in touch with a CA who can give quick and precise advice.
Regards,
Sharad
Amit Shroff
Well Abhishek for any kind of official transaction you need a Current Account, a saving account is considered as personal account and technically you cannot use it for any business transaction, this could either receiving/making payments, service tax payment, vat payment etc.
Additionally as far as I know you cannot sell as individuals in platforms like amazon, flipkart etc. you would need either Partnership, LLP, Pvt or LTD company to do that.
So before you proceed ahead, please speak to these market place and understand their guideline. Also note that these activities would need a CA/Accountant to handle VAT/Service payment/returns etc.
Hence if you don’t want to get into these hassle till you get into a sizable position you could start your own eCommerce store. You can visit our website https://www.72interactive.in/ if you need any assistance or speak to me at 9811122212