Is Online Business Requiring Company Registration?

Online business has taken a boom in the last few decades. This business model has captured the maximum market area these days and is considered to be the most convenient way to shop around by the customers. It is time-saving, facilitates the return and reorders too and escapes the customers from the shopping at the mercy of the traders. To do business online in India you can incorporate an LLP or can go for company registration in India, even starting as the sole proprietorship is also an option. A registered entity gains more trust and can avail the tax benefits as prescribed by the government time to time. Also to start a business you will also require to open a current account, for which a registered entity is a must condition, company registration will give you recognition by banks, taxation authorities and will provide you the gateway to receive payments and get certain registrations before other concerned authorities. After company registration, you must obtain the GST registration and in case you also wish to protect your brand or company logo, apply for trademark registration. The GST registration is mandatory after your business turnover reaches 20 Lakh or INR 10 Lakh for specified states.

However to charge GST to the customers, and avail Input tax credit you require GST registration. A company is a corporate legal entity, separate from its members and can hold the property in its own name. To incorporate a company you shall approach to a Company secretary or charter accountant or such consultancy engaged in company registration. In case you wish to go for company registration in Delhi, you need to apply on the MCA portal in E-file SPICE-32 for the purpose of online company registration. A company can be incorporated as a private company, public (Listed and Unlisted). To start with you can incorporate a private company as it has lesser compliance when compared to a Public company.

Source by: https://penzu.com/p/ae0843ba