How to sell on Snapdeal
How to sell on Snapdeal
Snapdeal founded by Kunal Bahl and Rohit Bansal is India’s largest online marketplace offering more than four million products across a range of categories from over 50,000 sellers. Snapdeal witnessed record amounts of sales during the recently held sale day, crossing Rs. 1 crore of sales every minute. With more and more people shopping online, e-commerce continues to be one of the fastest-growing industries with plenty of opportunities. Selling through online marketplaces like Snapdeal, Flipkart or Amazon can help established businesses quickly find customers without having to worry about technology or marketing. In this article, we look at how to sell on Snapdeal and Snapdeal seller registration process.
Selling on Snapdeal – Documents & Registration Required
Before beginning to sell on Snapdeal, the business must first become a Snapdeal Seller by completing the registration process and submitting the required documents. If an established business proposes to sell on Snapdeal, the seller registration process can be completed quickly as the business may have the required tax registrations. On the other hand, if the Snapdeal seller is a new business or if the seller would like to use a new entity, certain tax registrations must be obtained prior to selling on Snapdeal.
Business Registration (May not be required for established businesses)
The Snapdeal seller registration process requires the PAN Card, TIN Registration and Bank Account – in the name of the business. Therefore, a Private Limited Company or Limited Liability Partnership (LLP) can be started if an established business entity is not readily available during the seller registration process. Both Private Limited Company and Limited Liability Partnerships offer the promoters limited liability protection and are a separate legal entity – that can be scaled or transferred. It is however recommended that e-commerce sellers start a private limited company, as it offers the ability to quickly scale up and also easily access bank or equity funding. LLPs, on the other hand, have restrictions while raising bank or equity funding, and therefore not recommended.
PAN Card
A person must submit the Permanent Account Number or PAN card copy bearing the name of the businesses during the Snapdeal seller registration process. Both Private Limited Company and Limited Liability Partnerships would have PAN Card in the name of the business. Proprietorships would have PAN card only in the name of the Proprietor.
TIN Registration
TIN Registration is also known as Tax Identification Number, or Sales Tax Registration is required to begin selling on Snapdeal. Any person or entity selling goods or services in India requires TIN registration – both offline or online. Therefore, obtain TIN Registration by applying to the relevant State Authorities prior to selling on Snapdeal. Entities without TIN Registration can only sell handicrafts, books, online education or unstitched fabrics.
Bank Account
Submit the copy of the cancelled cheque to Snapdeal during the Snapdeal seller registration process. The bank account must be in the name of the business. Private limited companies and LLPs can both easily open bank accounts in the name of the business by submitting a certificate of incorporation and PAN card. Opening a bank account in the name of the business is cumbersome for a proprietorship, prove the existence of the business through other tax or business registrations. More information about opening a bank account in India.
Snapdeal Seller Registration
To begin the Snapdeal Seller Registration process, visit Snapdeal Seller Homepage. During the seller registration process, information such as name, phone number, email and address will have to be provided and verified. In addition to the demographic information, a copy of the PAN card, copy of TIN registration certificate and a copy of cancelled cheque must also be submitted. After submission, a Snapdeal representative will verify and approves the submitted documents and information.
To incorporate a private limited company or LLP, visit IndiaFilings.com
Post by IndiaFilings
IndiaFilings.com is committed to helping entrepreneurs and small business owners start, manage and grow their business with peace of mind at an affordable price. Our aim is to educate the entrepreneur on the legal and regulatory requirements and be a partner throughout the entire business life cycle, offering support to the company at every stage to make sure they are compliant and continually growing.