Is a business PAN necessary for a new e-commerce startup?
Yes, a business registration number (PAN) is required by law for all e-commerce startups from India. Without a PAN, your business will not be able to operate and will be closed down. The process of applying for a PAN is simple and can be done online. Here’s how to apply:
1. Go to the Ministry of Corporate Affairs website and click on ‘Startup India Portal’.
2. On the ‘Startup India Portal’ page, click on the ‘Business Services’ tab.
3. On the ‘Business Services’ page, click on the ‘Register a Business’ link.
4. On the ‘Register a Business’ page, enter your business name, contact information, and other required information.
5. Click on the ‘Submit’ button to submit your application.
6. Once your application is submitted, you will receive a notification indicating that your application has been received and is being processed. Please note that it can take up to six weeks for your PAN to be issued. In the meantime, you will need to continue operating your business under an alternate name or use a provisional registration number (PRN).