Getting Started with Drop-Shipping in India
Hey there.
I'm an Indian resident, planning to start a drop-shipping business on a niche category by creating an online store.
This is my first time trying to sell anything online. I'm also not aware of the legal requirements to setup a drop-shipping store in India.
I do not have a registered company, nor a current account or GST registration. Can I still make a store and start selling online using my personal bank account for managing expenses? I was hoping I could get some clarity on this. I have read somewhere that I can start as a sole proprietorship, and use PayU Money to start receiving money directly to my account.
I also read that I wouldn't need GST registration before I cross a turnover of 20LPA, but I also read GST registration is necessary for online stores.
All of this is just confusing and I was looking for a simpler answer to the following questions?
1. Can I start a website for dropshipping (it is different from regular ecommerce, as the product is directly shipped from the supplier to customer) as an Individual without any sort of registrations?
2. Do I need to register a business as a sole proprietor? What if I don't have an address, considering it's fully virtual one-man store?
3. Do I need a current account, or GST registration, or a Shops and Establishment registration? Or can I get started using my personal account for now and set up things as I scale?