VAT registration for online biz
I want to start to online selling on marketplaces which require VAT ID. I have following questions -
1) What is the ease and cost, if i do it myself?
2) As i require a commercial space , i will be renting a space temporarily only for inspection with 11 month agreement. And once I get the ID, will vacate the place. Is that fine?
3) Can i just talk with any other running shop and get a rental agreement in my name and show it as my shop premises.
4) Vakilsearch.com says i will have to get current account for Vat id. Again for current account, the banks require any business registration for which they ask me get a Shop and extablishment license which again costs another 10k. Is that true? I have not seen anywhere requirement of current account for VAT. After i get the Vat, i can show the vat to the bank to get a current account.
5) What is the security deposit for me selling fashion accessories only online?
You do not require a current account to get VAT registration. You need to give bank details while registering you can provide your personal bank account details.
You can do it yourself if you have good free time.
Security deposit will be around 3500-5,000.
You need to have a place for vat registration.
Can you give clear answers to points 2) and 3) and also the cost breakup if i do it myself
Is it ok to show shared office/virtual office as commercial space. Also give clear answers to points 2) and 3) and also the cost breakup if i do it myself