Tag Archive: online eCommerce store

  1. How will GST affect online sellers on e-commerce platforms?

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    The advent of e-commerce platforms has revolutionised how businesses operate, allowing entrepreneurs to reach a global customer base with relative ease. However, with the implementation of Goods and Service Tax (GST) in many countries, including India, the online seller faced new challenges.

    Following the GST’s implementation in India, we adhere to the One Nation – One Tax principles. In India, 17 different indirect taxes must be paid before 2017.
    All goods and services are uniformly taxed across the nation under the GST system. The amount of taxes that businesses were required to pay has significantly decreased. You can manage all tax information online for your WooCommerce store with the GST plugin for WooCommerce.

    In this blog, we will explore the impact of GST on online sellers and provide valuable insights for e-commerce platforms to assist their sellers in navigating this tax landscape.

    Increased Compliance Burden

    GST brings the online selling community under the ambit of tax authorities, making compliance an essential aspect of their operation. Online sellers are now required to register for GST, file regular returns, and maintain proper records of their transactions. E-commerce platforms can support sellers by providing user-friendly tools and automated systems that simplify the compliance process, ensuring sellers can focus on their core business activities.

    Determining GST Liability

    One of the crucial aspects of GST for online sellers is determining their GST liability accurately. They involve the identification of the correct rate for their product, considering the place of supply rule, and understanding various exemptions and thresholds. E-commerce platforms can collaborate with tax experts to develop comprehensive guides and training materials to educate sellers about GST implications, helping them make informed decisions regarding their pricing strategies and product offerings.

    Impact on Price and Profitability

    GST can have an impact on the pricing and profitability of online sellers. While the input tax credit mechanism allows sellers to claim credit for taxes paid on their business expenses, it is essential to ensure that the increased compliance costs and potential changes in tax liabilities do not erode their profitability. E-commerce platforms can work closely with sellers to analyze the impact of GST on their pricing structures, offering guidance on maintaining competitiveness while remaining compliant. This plugin can help you in managing the price and profit. This plugin simplifies the process of calculating GST tax in WooCommerce.

    Supply Chain Management

    E-commerce platforms play a vital role in the supply chain management of online sellers. With the implementation of GST, sellers need to review and restructure their supply chain processes to ensure compliance and minimize potential disruptions. Platforms can assist sellers by facilitating collaborations with logistics partners and providing tools to track and manage the movement of goods, ensuring seamless operations while complying with GST requirements.

    Tax Collection at Source (TCS):

    Certain jurisdictions have introduced the concept of Tax Collection at Source (TCS) for e-commerce transactions. Under this mechanism, e-commerce platforms are responsible for collecting and remitting the applicable GST on behalf of the sellers. Platforms must develop robust systems to calculate and collect the TCS accurately, simplifying the process for sellers and ensuring compliance with tax regulations.

    A GST on e-commerce businesses will simplify taxation

    The procedures for submitting taxes have also been significantly changed by the introduction of GST. Owners of online stores today don’t have to stress about lengthy correspondence with tax authorities, delays, differences between state governments, etc.

    Now, all compliances can be completed online.

    The Indian government has created GST gateways that allow eCommerce business owners to:

    Online registration is possible through specialised apps offered by GSTN and ST Suvidha Providers.

    Instead of tracking them all at the end of the fiscal year, upload invoices immediately.

    Self-declaration forms are used to submit refund claims online.

    Every process has a planned and standardised timeline since every process is digitalized and automated.

    GST Challenges for E-Commerce Marketplace Sellers

    The Complexity of GST Rules

    The intricacy of GST regulations may make it challenging for online marketplace vendors to comprehend and adhere to them, which can result in mistakes and fines.

    High compliance expenses:

    The GST mandates that merchants on e-commerce marketplaces register, file returns, and pay taxes regularly, which might raise their compliance expenses.

    Lack of IT (Information Technology) infrastructure:

    E-commerce marketplace vendors could not have the needed IT setup to abide by the digital system for billing and filing returns as required by GST.

    Difficulty in claiming input tax credit:

    Since they might not have the necessary paperwork or invoices to back up their claim, e-commerce marketplace sellers may encounter difficulties when claiming an input tax credit.

    Difficulty in understanding the GST rates:

    The different GST rates for various goods and services may be confusing to e-commerce marketplace vendors, which can result in mistakes with WooCommerce GST invoice
    and tax payments.

    Difficulty in dealing with multiple tax authorities:

    GST makes it necessary for e-commerce marketplace sellers to communicate with numerous tax authorities, which can be tedious and confusing.

    To overcome all these challenges install WooCommerce GST Plugin for your online store.
    This GST plugin can automatically calculate GST and generates an invoice with GSTIN and HSN number. You can generate customised invoices with your store logo and company name.

    Conclusion:

    The introduction of GST undoubtedly poses challenges for online sellers on e-commerce platforms. However, with the right support and guidance from the platforms, sellers can navigate this tax landscape effectively. By offering user-friendly compliance tools, educating sellers about GST implications, and facilitating streamlined supply chain management, e-commerce platforms can empower their sellers to thrive in the era of GST, fostering a vibrant and compliant online selling ecosystem.
    Remember, a collaboration between e-commerce platforms, online sellers, and tax experts is crucial to understanding the nuances of GST and ensuring a smooth transition to the new tax regime. By embracing this collaborative approach, e-commerce platforms can reinforce their position as valuable partners for online sellers, helping them harness the opportunities presented by the digital economy while complying with tax regulations.

  2. A Complete Guide To Start An Online Store Without Inventory

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    Starting an online eCommerce store is a very expensive business considering the involved products, dealers, website, shipping and so on. But don’t let it stop you from owning an online business. Here is the solution. Start an online store without inventory. 

    This online eCommerce store will save you lots and lots of costs right from the website to the warehouse. How? We’ll see this in this blog. But, prior to that let’s take a look at if it is an apt choice to start an online store without inventory.

    Pros and Cons

    Before we fly high on dreaming of owning an online eCommerce store let’s dive deep into the aftermath to check if it is a good idea. Here are the pros and cons of starting an online eCommerce store without inventory.

    Pros

    • Exceptionally low ongoing expenses or the overhead costs as the operational costs of managing the inventory are eliminated 
    • Elimination of inventory eliminates the storage costs like warehouse and watch-person and hence brings profit to the retailers
    • Doesn’t require a permanent premise as the landing page of an efficient website is enough
    • Reduces the employee hassles and awards more time to focus on the business growth
    • The option of outsourcing avails the opportunity to increase the stock potential

    Cons

    • The flexibility in product offering is less as there is no control over stock and one might face unpredictable demand
    • The brand has almost no control over the supplied products for sale and hence the uncontrollable customer experience 
    • The suppliers are unreliable when it comes to the product quality assurance

    Options for an online store without inventory

    Taking out the inventory doesn’t just save you from costs but challenges your creative mind to take out the business from digital products or services. Let’s bring ease to your research. Here are the available online business options if you decide to drop the inventory.

    Print-on-demand products

    Print-on-demand products stand as the most popular business option without inventory. You can make the personalised and customised products i.e you can print the customisations on t-shirts, cushions, mugs, keychains, posters, etc. or even corporate printing. 

    You can invest in a printer and a place for your print-on-demand business and take online orders. However, this also involves storing the blank pieces to print on in stock in advance. This is where the option of outsourcing enters the picture. Also, you can join hands with a famous brand for brand licensing to print their merch. This will bring even more business than customisation.

    Digital Products and Services

    Another option or as we can say the option of setting up the most profitable online store without inventory is selling digital products or serving digital services. This might involve educational products like recipe books, diet plans and courses or educational services like online services like tutorship, online lectures, webinars, etc. You can also opt for drop shipping services. These are the services where a business hires a company to ship their products or the seller does not keep the inventory in stock, but outsources it and gets them delivered to their consumers. 

    The entertainment sector can be a great choice to invest in with music, movies, podcasts, etc. This offers the other options of licensing and membership as your online eCommerce business store without inventory. For example, the apps like Spotify, YouTube and all the trending OTT platforms are selling a variety of membership deals to get access to specific content. 

    Procedure

    After embodying your business idea and finalising your niche, commence your journey of setting up an online eCommerce store. Here are the ideal steps to be followed to set up an efficient online store. 

    Research

    Conducting market research is the first step in setting up your online business. This step avails you with the pre-assessment of your competitors during the analysis of the Search Engine Result Pages (SERPs). The research ends where you get enough data to analyse the market trends and conditions. Also, look for the high-performing keywords for your website to rank and overpower your competitors.

    Audience

    The ideal audience or more popularly known as the ‘Target Audience’ is to be determined as the potential buyers of your products or services. Despite a huge number of online shoppers, this will direct your off-page marketing to generate organic traffic by narrowing your efforts towards these potential buyers.

    Source

    Define the source of developing your digital products. Most of the time, the online stores without inventory opt for outsourcing. Outsourcing is a profitable option considering the investment of tools, labour and efforts.

    Viability

    Before launching your business check on the recent trends and styles in the market. This will help you introspect and evaluate the viability of your digital products. You can check the stores of your competitors and go through their reviews and responses to analyse the performance of their products in the market.

    Brand Creation

    Create a brand identity for your online eCommerce store by creating an eye-catching logo.  Get a trendy brand name that defines the vibe of your business. Make them as creative to present your exquisite website that is to be created next. 

    Platform

    We’ve seen the steps involved in starting your online eCommerce store. However, building your online store requires the creation of an exquisite website. Here we are to introduce you to the best and a free-of-cost platform to build your online business store known as WooCommerce. Woo Commerce avails you with a customised website to set up an online WooCommerce store. 

    WooCommerce has various extensions known as plugins to insert various features into your site. E.g WooCommerce tax plugin, WordPress SEO plugin, etc. These extensions in the form of add-on plugins are for the enhancement of your business website. They help increase your website performance and an efficiently performing website brings more business. 

    Final Words

    A well-performing website is a master key to a successful online eCommerce store. And when it comes to the online store without inventory, digital efficiency becomes the must-have. Here, at WooCommerce GST, we leg you up with the enhancement to acquire that digital efficiency with our WooCommerce tax plugin called Woo GST. It is a GST invoice plugin that deals with the GST calculations of your online WooCommerce store and autogenerates the invoices. Are you interested in this little enhancement for your online eCommerce store? You can download it now for free!

  3. 9 Prominent Steps To Start Your Online eCommerce Store

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    How To Turn Your Idea Into Online Business This 2022

    For nearly the past 4 decades, we have been transacting in eCommerce. Yet, this is a great time to land your idea into an online business or to expand your retail shop by taking it online as the stats suggest that the number of online shoppers will reach 220 million by 2025. 

    Although setting up an online eCommerce store is comparatively easy with the WooCommerce plugin, running a business is not an easy job. There involved a lot of important decision-making. Here are 9 ideal steps to follow to set up and develop your online business.

    The Embodiment of the Idea

    Determine your business niche i.e. the ‘focus area’ of your business while embodying your online business idea. For that, look out for a problem to solve and make this problem-solving your business niche.

    Through this, you’ll understand the requirement over the demand in the market. You can sell three main types of products through an online eCommerce store. – Physical goods, digital goods, services. Each has its individual pros and cons. The pros help you with the embodiment and the cons with the niche.

    Acknowledge the Online Business Laws

    Before conducting the product research or market research, or taking any further steps toward the implementation of your online business idea, learn and acknowledge the online business laws. The online business laws vastly differ from the traditional business laws and hence understanding these thoroughly is important before the commencement of your online business. 

    Online businesses require comparatively fewer licences and permits. But, it is important to get a complete legal affiliation. 

    Conduct Market Research

    The next step here is conducting market research. This is the first stage of marketing. This step includes the analysis of the search engine result pages (SERPs) with the variations of keywords. 

    You can pre-assess the competitors during the SERPs analysis as the market research also involves researching your main competitors and analysing the things to be done and the things not to be done. In the end, you got to track the high-performing keywords with concern to the niche of your online eCommerce store.

    Define your Target Audience

    Although the number of online shoppers on eCommerce stores is pretty high, it is important to target your audience for the focused as well as organic marketing strategies. To define your target audience you must understand their needs, preferences and other insights. A thorough understanding helps you reach their purchase triggers. 

    Source your Products

    Beyond the marketing and other strategies, it is the   product quality that matters the most in any business. You must source the quality assured products. Or if you are into selling handmade products online, maintaining consistency and quality is important. The next thing you got to get into is shipping the products to fulfil the orders. You can either collaborate with the shipping services or the wholesalers for the distribution of your products. 

    Check the Product Viability

    It is important to evaluate the product viability before launching your business. For that, you have to check on the online eCommerce stores with similar business ideas. You must analyse their performance in the market.  Also, check on the sustainability of the demand for a certain product. The strategies they use to trigger the off-season purchase it is temporary or seasonal. 

    This evaluation also analyses the maths behind the sale of this particular product. If it is profitable or not. And if not, why? The product might seem classic, but if it lacks viability from the business perspective, then it is of no use.

    Create your Brand and Image

    A brand name defines the overall vibe of your business. It creates an opportunity to leave a mark. For that, it must catch the eye. To create a strong image of your business, along with all the intricate planning, the external form and way of presentation matter.

    Hence the next step here is creating a brand identity for your online eCommerce store using an attractive logo and presenting an exquisite website with a decent yet catchy colour scheme, typography, pictures and graphics. Many WooCommerce plugins can help you in the enhancement. Altogether they’ll make an effective brand image.

    Build an Online Store

    Building an online store is making an efficient and user-friendly website. Here is where the WooCommerce plugin comes into action. WooCommerce helps you set up the most efficient websites for your online eCommerce store. It has thousands of extensions for shipping, marketing, accounting and much more. 

    When it comes to accounting, the tax setting might be tricky to handle. Here, with our WooCommerce GST invoice plugin, we are here to serve you with the Goods and Service Tax configuration. You’ll just have to manage a few settings and insert the custom tax slabs. Also, WooGST offers auto-generated invoices that can be shared with the buyers via emails and other platforms. 

    Market your Business

    The going concern concept of book-keeping concerns the fact that the books are to be kept for a long time as the business is considered to go on for a long term. For that, it is important to bring more sales. 

    Although WooCommerce offers marketing extensions, marketing has a vast scope. Both traditional and digital marketing go hand in hand in bringing more business to your online eCommerce store. 

    Also, the routine check on the working conditions of your web pages is to be followed. The concerns are not necessarily conveyed, they are to be looked for. To keep your business going and growing becomes the business niche after the launch of your WooCommerce store. 

    Final words :

    A good online business runs with an efficient website and to keep up that efficiency there are many factors to deal with. Here, with the WooCommerce GST invoice plugin, we are taking a bit of a load of responsibilities on your shoulder as an online business owner. We are providing ease and accuracy in the GST calculations and automaticity in invoice generation. Feel free to include our add-on plugin in your WooCommerce store. 

  4. E-commerce Industry Post Covid-19

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    The Expansion Of E-commerce Industry Post Covid-19

    What exactly is the e-commerce industry built on? Understanding the core of any industry is crucial, it decides the prospect of all the companies that are indulging and competing in the same arena. Electronic commerce is nothing but the sales and purchases of goods or services with the help of online platforms. Transfer of money and data that are used to execute online transactions are also included in the same. 

    Impact on Online Business:

    Currently, as we all are slowly recovering and getting back to our old schedules, we are nevertheless inclined to follow quirks that we have picked up during the lockdown. Online shopping is definitely at the top of that list! This is the exact moment where we realize the potential of e-commerce. According to a research article by IBEF, the Indian e-commerce market is expected to grow from US$ 38.5 billion (as of 2017) to US$ 200 billion by 2026. In fact, India has the second-largest e-commerce market. Now, that’s a tremendous leap but despite all the profit margin, surviving in this industry requires firm support from the communication viewpoint. As Meg Whitman Hewlett the CEO of Packard says, “Communication is at the heart of e-commerce and community.”

    Building trust and communication for e-commerce companies has been crucial during this pandemic. It’s not always the slow business that’s concerning, sometimes the sudden unpredicted rush of orders can also cause a dilemma. This is exactly what happened during the lockdown, companies like Amazon, BigBasket and even Grofers received an overwhelming amount of orders to a point where they had to temporarily stop their service for certain locations. They also had to implement safety measures, cleanliness as hygiene took precedence. This was quite clear, as Amazon prioritized essential product orders over the non-essential ones. This helps us understand that e-commerce business adapts according to the current market needs. The online business world has already adjusted to the post-pandemic customer requirements.

    Impact on GST

    Product mix, transactions, and customer base follow-up is a must. But one needs to pay attention to the tax invoice that needs to be generated post-sales. Sometimes it gets difficult for business owners to keep track of all these transactions. This brings us to the billing part – right after the customer hits that order now button and completes the transaction. This is where the tax invoice comes in along with complex GST calculations.

    Due to the tremendous growth in this sector, there has been an increase in multiple tax-related concerns along with other difficulties namely – the narrowing profit margins and the intensifying competition. Earlier the tax laws for e-commerce were not precisely clarified, but now there are proper rules and regulations for any online sale or purchase. The compliance issue arises when it comes to returns or refunds. Millions of these transactions take place monthly, they are supposed to be filed regularly as they influence tax liability. Calculating taxes is a tedious job considering it requires precision, but WooCommerce GST Plugin does the job for you! It helps you configure your GST settings, flexible tax slab and product-wise tax option, built-in invoice features, and much more. All you got to do is install and upload. Fundamentally it’s e-commerce boosting e-commerce; thriving its way up. 

    Impact on Money Flow

    The way this entire industry is paving its path towards financial profit, it is bound to inspire new talent. With aspiring entrepreneurs stepping into the world of online business, the industry itself has left no stones unturned. The major determinant is the absolute amount of money flowing throughout the e-commerce sector – global revenue surpassing $2 Billion. This is the USP that attracts start-ups to divulge into the e-commerce enterprise. But sometimes, it’s not always gold and glitters. Cash-flow can become a major issue along with misinformation and this can quickly turn into a failed attempt. To create a successful e-commerce startup, one needs to have a firm strategy for staying on top of cash flow problems. Track your business consistently, don’t get swayed because of how well this industry is doing post Covid-19. Always remember the survival period was during the peak of the pandemic where the industry faced a complete lockdown. One should be prepared for such extreme circumstances. 

    Are you planning on starting a new e-commerce business? WordPress is the destination you need to visit right now! Set up your website – or do you already have one? If yes, then building up your online store will become a piece of cake provided you are acquainted with WooCommerce. From flexible and secure payment options to managing orders on the go, WooCommerce has your back! These are the exact expeditions that newcomers in the e-commerce industry are looking for post-pandemic. 

  5. Why One Should Switch To Smart Invoicing with WooCommerce GST Plugin

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    Smart invoicing has become the most sought-after method for following up on your orders along with taxation. Of course, it adds the burden of GST calculations and keeping track of records of all the incoming orders.

    Basically, an invoice is a time-stamped business report that details and registers a transaction between a customer and a seller. If goods or services were to be obtained on credit, the description usually defines the terms of the transaction and presents data for the convenient means of payment.

    Now, preparing a detailed invoice can be a tedious task. But, WooCommerce GST will generate a full-fledged professional invoice for you in a matter of seconds. Plus the bonus is – automatic GST calculations! The only thing you need to do is add the accurate tax slab according to your requirement.

    What to include in an invoice?

    Woocommerce GST Invoice

    There are various pointers one can add to an invoice. Here’s a list of conventional ones.

    • Standout Header

    This may seem very generic, but sometimes one needs to focus on the header as it will help you keep track of all your invoices.

    • Invoice Reference Number

    Invoice Reference Number also known as IRN is a unique number assigned by Government to track and recognize each valid Smart Invoice formed in India. The IRN was implemented on 1st October 2020.

    • Invoice Date

    A date is used as a time-stamp on an invoice and is issued for goods, which is usually sent on the same day the goods are sent to the buyer. The actual payment may or may not be due for a certain number of days after the invoice date.

    • Business Logo

    A logo adds a professional look to your overall invoice and gives customers a vibe of trust when making payments. With WooCommerce GST Plugin you can do just that, you can add your company logo immediately to every invoice.

    • Business Contact Information

    It’s quite necessary to add your basic contact information; this allows your customers to stay in touch with you. Hence don’t forget to add in your mail, address, contact number or any other details.

    • Products / Services Rendered

    Always make it a point to add in a brief description regarding your product or services. This gives the customer a quick glance at what exactly they have purchased and helps you keep track of sold products.

    • Price / Quantity

    Adding in the price and quantity is the basic; hence you will always find this on all the invoices.

    • HSN Number

    Harmonized System of Nomenclature also known as HSN code is a 6-digit uniform code that arranges 5000+ items and is acknowledged around the world.WooCommerce GST is the only GST calculator that provides a Meta field for ‘HSN Code’.

    • Applicable Taxes Or Discounts: GST (SGST, CGST, IGST)

    GST multivendor plugin, woocommerce GST multivendor plugin

    The invoice always has slots for taxes, discounts, and any other additional charges. Make use of this space and create a detail-oriented document.

    • Total Due And Due Date

    To add in another section, you can follow it up by the total due and the due date. This will help you keep a record of all the debts and due dates.

    • Notes, Comments And Payment Terms

    This one totally depends upon your business rules and regulations. But make use of this space as it helps the customer understand your company policy better.

    • Add A Unique Message

    Make it customizable and genuine, this is where you start building bonds with your customers.

    Note: Select a practical invoice numbering system; it will help you to record all your invoices properly.

    Many times as a business owner, you might feel that the presentation of an invoice won’t matter as much. But in reality, it actually helps you maintain a lasting impression on your clients.

    The principal importance of an invoice is to present a company and its customer with a report of the sale. It follows a particular direction in company accounting: invoices exhibit a client’s responsibility to pay you for your services.

    To sum up – it’s crucial to understand how invoices can benefit a business in numerous ways in accordance with a client. First and foremost establish a clear connection with your client. Start by including project specifics, late payment terms, asking for deposits, and sending the invoice online.

    Be prompt with the deliverance of your invoice, to speed up the process use retainer contracts with recurring billing.

    For faster results, use smart invoicing software, you can get a GST invoice by opting for our WooCommerce GST Plugin. You will be provided with IGST calculated invoices as well, provided you are using the GST Plugin for WooCommerce. This will help you with invoicing international clients and building strong relations over time.

  6. GST Registration Checklist

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    GST Registration

    GST enlistment number or GSTIN is a unique 15-digit number given by the duty specialists to screen charge instalments and compliances of the enrolled individual. Applying for the establishment of a business requires various arrangements of records.

    We are going to look at each of those important documents required for GST registration here.

    Applicability

    Any individual case open for intra-state flexibility of products/agencies with an annual total turnover of more than Rs 20 lakh (Rs 40 or Rs 10 lakh, as may fluctuate contingent on the gracefully and state/UT) or undertaking between state gracefully (with no edge restricted) are obligatorily needed to get GST enlistment.

    as per the update on 7th March, 2019 following are the necessity of the GST bill.

    The CBIC has notified that GST registration is not required if annual turnover is below Rs 40 lakhs only in case of a supplier of goods except:

    a) Cases of compulsory GST registration

    b) Icecream, edible ice, pan masala, tobacco, and its substitutes

    c) Those making sales within States of Arunachal Pradesh,

    Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura & Uttarakhand

    d) Choosing Voluntary registration

    The notification will be effective from 1st April 2019.

    Now we’ll see the document checklist for getting your GST registered 

    1.Constitution of Business

    The following documents are required to obtain GST registration depending on the type of business or constitution. (Individual/Company etc.)

    GST Registration Documents Checklist

    Category of person Documents required for GST registration
    Sole proprietor / Individual PAN card of the owner, Aadhar card of the owner, and Photograph of the owner (in JPEG format, maximum size – 100 KB)Bank account details*Address proof**
    Partnership firm (including LLP) PAN card of all partners (including managing partner and authorized signatory)Copy of partnership deed, Photograph of all partners and authorised signatories (in JPEG format, maximum size – 100 KB)Address proof of partners (Passport, driving license, Voters identity card, Aadhar card etc.)Aadhar card of authorised signatory proof of appointment of authorized signatory. In the case of LLP, registration certificate / Board resolution of LLP Bank account details*Address proof of principal place of business**
    HUF PAN card of HUFPAN card and Aadhar card of KartaPhotograph of the owner (in JPEG format, maximum size – 100 KB)Bank account details*Address proof of principal place of business**
    Company (Public and Private) (Indian and foreign) PAN card of CompanyCertificate of incorporation given by Ministry of Corporate AffairsMemorandum of Association / Articles of AssociationPAN card and Aadhar card of authorized signatory. The authorised signatory must be an Indian even in case of foreign companies/branch registrationPAN card and address proof of all directors of the CompanyPhotograph of all directors and authorised signatory (in JPEG format, maximum size – 100 KB)Board resolution appointing authorised signatory / Any other proof of appointment of authorised signatory (in JPEG format / PDF format, maximum size – 100 KB)Bank account details*Address proof of principal place of business**

    *Bank account details:

    For bank account details, a copy of cancelled cheque or extract of passbook/bank statement (containing the first and last page) must be uploaded.  (in JPEG format / PDF format, maximum size – 100 KB)

    **Address proof:

    Upload any one of the following documents:

    1. Property tax receipt
    2. Municipal Khata copy
    3. Electricity bill copy
    4. Ownership deed/document (in the case of owned property)
    5. Lease/release/rent agreement (in case of leased/rented leased/rented property) – To be submitted along with (1), (2) or (3)
    6. Consent letter / NOC from the owner (in case of consent arrangement or shared property) – To be submitted along with (1), (2) or (3)

    2. Category of GST Registration

    Different types of documents will be required to be submitted on the GST portal for GST registration depending upon the type of GST registration needed. This is based on the nature of activities being carried out by the entity.

    A detailed list of documentation requirements for every type of GST registration is given below:

    GST Registration Documents Checklist
    Nature of GST Registration Purpose of Registration Documents to be Uploaded
    Normal taxpayer registration (including  composition dealer, Government departments and ISD registrations) For the undertaking of a taxable supply of goods / or services PAN card of Company (only in case of a company)Certificate of incorporation given by the Ministry of Corporate Affairs / Proof of constitution of business Memorandum of Association / Articles of Association (only in case of a company)PAN card and Aadhaar card of the authorised signatory. The authorised signatory must be an Indian even in case of foreign companies/branch companies / branch registration PAN card and address proof of all directors of the Company (partners in case of firm)Photograph of all directors and authorised signatory (in JPG format, maximum size – 100 KB)Board resolution appointing authorised signatory / Any other proof of appointment of authorised signatory (in JPEG format / PDF format, maximum size – 100 KB)Bank account details*Address proof of principal place of business**
    GST practitioner For enrolling as GST practitioner Photo of the applicant  (in JPG format, maximum size – 100 KB)Address proof of the place where professional practice takes placeProof of qualifying degree (Degree certificate)Pension certificate (only in case of retired Government officials)
    TDS registration For deducting tax at source Photo of drawing and disbursing officer (in JPG format, maximum size – 100 KB)PAN and TAN number of the person being registeredPhoto of authorised signatory (in JPG format, maximum size – 100 KB)Proof of appointment of authorised signatoryAddress proof of tax deductor**
    TCS registration For collecting tax at source(E-commerce operators) PAN number of the person being registeredPhoto of authorised signatory (in JPG format, maximum size – 100 KB)Proof of appointment of authorised signatoryAddress proof of tax collector **
    A non-resident OIDAR service provider For online service providers not having any place of business in India Photo of authorised signatory (in JPG format, maximum size – 100 KB)Proof of appointment of authorised signatoryBank account in India*Proof of non-resident online service provider (eg: Clearance certificate issued by Government of India, License issued by original country or certificate of incorporation issued in India or any other foreign country)
    Non-resident taxable person (NRTP) For non-residents occasionally undertaking taxable supply of goods / or services in India   Photo and Proof for the appointment of an Indian authorised signatoryIn case of individuals, scanned copy of the passport of NRTP with VISA details. For a business entity that is incorporated outside India,
    the unique number based on which the Country is identified by the Government of that country. Bank account in India as *Address proof**
    Casual taxable person For non-registered domestic persons occasionally undertaking the taxable supply of goods / or services in India Photo and Proof for the appointment of an Indian Constitution authorised signatory Proof of  business Bank account *Address proof**
    UN bodies/embassy For obtaining Unique Identification Number to claim the refund of taxes paid on goods/services Photo of authorised signatoryProof of appointment of authorised signatoryBank account in India*

    Bank account details:

    For bank account details, it’s a must to upload a copy of cancelled cheque or extract of passbook/bank statement (containing the first and last page). (in JPEG format / PDF format, maximum size – 100 KB)

    Address proof:

    Any of the following documents is required:

    • Property tax receipt
    • Municipal khata copy
    • Electricity bill copy

    Apart from these, the following may vary case-to-case basis:

    • Ownership deed/document (only in case of owned property)
    • Lease / Rental Agreement (in case of leased/rented leased/rented property) – To be submitted along with (1), (2) or (3)
    • Consent letter/NOC from the owner (in case of consent arrangement or shared property) – To be submitted along with (1), (2) or (3)
    If you have GST registration for your woo-commerce website, Then Use this Woo-commerce GST plugin for your online business to get Printed GST Calculation on every customer receipt

     

  7. Learn why GST plugin is Important for eCommerce?

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    Why use the GST plugin for eCommerce Website?

    Business with eCommerce was a lot easier before the execution of GST in India. After the compulsion of GST on all sorts of goods and service providers, it became difficult to manage, calculate, and apply GST for vendors. 

    Calculating GST for traditional vendors (The ones who are not selling online) was an easier job than the eCommerce seller as there are different sets of a rule to calculate GST for central and state government is different  

    Here comes the importance of the GST calculator. 

    GST plugin for WordPress (woo-commerce) site calculates the GST concerning each state. Isn’t that great? So let’s take a look at how it helps to add tax on woo-commerce products.

    Importance of WooCommerce GST plugin

    GST Plugin for WordPress (WooCommerce) has much importance such as configuring GST settings, PDF invoice with GSTIN, and HSN Number, entering their GSTIN code and the invoice will reflect it and calculating Dynamic tax slabs. We’ll go with them one by one

    1. Configure GST settings

    This is the best part of the WooCommerce GST Plugin; the admin can configure the GST setting. Admin can configure the plugin as per his state GST regulation. This feature minimises human error and helps to add the GST slab as per specific state regulations in the quickest way possible. This feature not only allows the admin to add a GST slab but also the admin can enter the GSTIN number which is to be shown. Admin can also customize the enterprise name, address, logo, and all the informative tabs.

    2. PDF invoice with GSTIN

    GSTIN (Goods and Services Tax Identification Number). GST is fundamentally a 15-digit number that has supplanted the Tax Identification Number (TIN) that business elements were distributed while enrolling under a state’s Value Added Tax law.

    Many of the GST plugin for WordPress can customise every single thing but they are not able to generate PDF invoices. That is the biggest drawback of an ordinary GST Calculator. Considering this drawback, we at WooCoomerce GST noticed this major issue in other GST calculator plugins and brought the PDF invoice generator feature to WooCommerce GST Plugin with our GST plugin, you can generate an invoice for every order. 

    3. HSN Number integration 

    HSN code stands for “Harmonized System of Nomenclature”. This framework has been presented for the efficient characterization of products everywhere throughout the world. HSN code is a 6-digit uniform code that arranges 5000+ items and is acknowledged around the world. This number has importance though many of the GST plugins for WordPress. WooCoomerce GST is the only GST calculator that provides a Meta field for ‘HSN Code’. 

    4. Dynamic Tax Slab

    As per the data available on the website of Kotak Mahindra it says The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18% and 28% under GST. There were 227 items in the 28 per cent slab. In the biggest GST rearrangement yet, tax rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wristwatches, were today cut from the 28 per cent slab to 18 per cent. However certain goods were kept under a 28 per cent slab

    The calculation for the dynamic tax slab is very complicated and not every Plugin provides it. So it is necessary to have the GST plugin for WordPress that provides a Dynamic Tax slab implementation option to give more convenience to users. 

    To evolve is the nature of the human race. We have evolved and will be evolving forever. The eCommerce is the evolution of the traditional marketplace and the GST calculator such as GST Calculator for WordPress (woo-commerce) is the necessity of the invention. Installing this plugin makes eCommerce trading simpler and easier; which is what we ‘humans’ are more concerned about.

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