The legal requirements for starting an online business in India are diverse. The rules alter depending upon the type of business model chosen. Because the regulations vary, the issues that need to be tackled to register the firm also differ. Let’s say you are starting a pharmaceutical firm that trades in drugs electronically. The legal compliances you will have to adhere to will be very stringent when compared with those of other types of e-commerce. For example, the digital communication channels used by healthcare and drug firms in the country are kept a close eye on and scrutinized aggressively.
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Besides the usual company or LLP registration, to start an online business that generates revenue, the following have to be completed.
1. A GST registration is mandatory for “proprietary transaction-based online website.”
2. A bank account in the name of the company or LLP. This is essential because a bank account allows setting up a payment gateway for the eCommerce site.
3. So that your customers and patrons can pay through their method of choosing such as debit card, credit card, or net-banking setting up a payment gateway is essential.
Online businesses also need to follow cyber law crimes and other regulations. To ensure that your business complies with all of them, get in touch with our professional tax registration team in setting up an online business in India. We make sure to complete the process in the shortest time possible while ensuring that the privacy and data protection laws are maintained. We also assist in confidentiality and cybersecurity issues that may arise while setting up the online business.
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We started our online business three years back and never realised the hoops we have to jump to register the company. We wish we had come across such a well-written article in the past. The process of initiating the firm would have become that much simpler.
Contract Law, Penal Code, cyber security, etc. were just some of the rules and regulations I had to read up on and understand while setting up my business website to sell handmade accessories. At the end of the day, as the article states, VakilSearch came to the rescue. They sorted out all the confusion.
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I never knew the licenses and agreements that had to be put into place to start an e-commerce site in India. Thank god for the invaluable assistance I got from VakilSearch after going through this post. They were there to support me every step of the way.