If a service IT firm :'ABC' who is a start up 1Yr 6 months old with turnover less than 3 lacs plans to start a ecommerce portal by name www.xyz.com for apparels.As per GST norms ecommerce has to register under GST irrespective of turnover.which can be done online.
So how GST registration would be done under ABC company (who has a bank current account )with www.xyz.com as brand name portal and linkABC account for payment collection on www.xyz.com website
Startup ABC Must Register for GST to Launch E-commerce Platform Despite Low Turnover, Considers Bank Account Options An IT firm, 'ABC,' a startup with a turnover of less than 3 lakhs, plans to launch an e-commerce portal, 'www.xyz.com,' for apparel. Despite the low turnover, GST registration is mandatory for e-commerce businesses. The firm inquired about registering under GST and linking its existing bank account for payment collection. It was advised to register voluntarily under GST provisions and to demonstrate the relationship between the two entities for bank account linking. Alternatively, opening a new bank account was suggested. The inquirer appreciated the prompt response and expressed satisfaction with the forum. (AI Summary)
Goods and Services Tax - GST
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