Did you know India’s e-commerce market is expected to reach US$99 billion by 2024? This makes India the second-largest e-commerce market, just behind the US. As the digital market grows, so does the need for tax compliance. The GST registration process for e-commerce operators is now essential for legal and smooth business operations. The Central Board of Excise & Customs (CBEC) has set up special rules for e-commerce GST registration. This is because the sector is growing fast and has complex tax issues. If you sell online or plan to start an e-commerce business, knowing these rules is crucial for your success. Now, e-commerce business tax compliance is a must. Section 24 of the Central Goods and Services Tax Act, 2017 requires all e-commerce operators to register for GST. This includes collecting a 1% tax on each transaction, except for exempted goods and services. As an e-commerce operator, you must collect Tax Collected at Source (TCS) at a maximum rate of 1% on the ne...
Are you running a food business in India and unsure about FSSAI registration ? As 2024 comes closer, it’s key to know how to get your FSSAI license online. But, why is FSSAI registration a must for your business? Let’s look into the details of this important food safety rule in India. Key Takeaways FSSAI offers three types of licenses: Local, State, and Central. The FSSAI registration process involves submitting forms, documents, and paying fees. FSSAI license applications require details like business operator photo, identity proof, and more. FSSAI was established under the Food Safety & Standards Act, 2006 for food safety regulation in India. FSSAI has a centralized body in New Delhi and six regional offices across the country. Understanding FSSAI Registration The Food Safety and Standards Authority of India is a key group. It was made by the Ministry of Health and Family Welfare , Government of India. They make sure all food in India is safe and good quality. Regist...