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Need advice for online business

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Beena
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Need advice for online business

Postby Beena » Sun, 18 Jun 2017 11:55 am

Hi I really need advice on this but before I state anything let me give you briefing regarding the situation
I am singapore citizen, we have registered company with ACRA,
Now I want to start small cap online business , I have product my site is going to be ready and I have customer base too. I have product goods as well as digital goods too. So all those things all set but the confusion I have is

My product like books and all will be manufactured in India and my customer would be around the globe . I have my family in India to handle things there

I don't want to ship things in singapore because it would be like additional shipping cost and plus I don't have man power here to manage shipping from here but from India it's manageable
But selling would be done from here singapore that's sure so what should I do?

How to set up the billing process , I learnt that for small out of scope business GST is not imply but how to business keeping India as wearHouse

How do I register or connect that part with my current company should I employ my Sister or should I make them partner and they handling shipping for me how to manage money in that case
In India how to show that income though I know there also below certain income you don't need to show anything
But before I start anything I want to do everything with perfect ground work so no problem in future and that's why I am looking for proper solution

If anyone have some experience in this setup please let me know I can mail them too thanks a lot
Hope I am not confusing things and clear enough

Vivpes
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Re: Need advice for online business

Postby Vivpes » Sat, 07 Oct 2017 12:05 am

If you purchase products from India, you are liable to pay their GST tax which is mandatory. GST stands for Goods Service Tax and it varies from 6 to 28% depending on the product.

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ecureilx
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Re: Need advice for online business

Postby ecureilx » Sat, 07 Oct 2017 8:39 am

Vivpes wrote:If you purchase products from India, you are liable to pay their GST tax which is mandatory. GST stands for Goods Service Tax and it varies from 6 to 28% depending on the product.
GST ?

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x9200
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Re: Need advice for online business

Postby x9200 » Sat, 07 Oct 2017 10:50 am

Beena wrote:Hi I really need advice on this but before I state anything let me give you briefing regarding the situation
I am singapore citizen, we have registered company with ACRA,
Now I want to start small cap online business , I have product my site is going to be ready and I have customer base too. I have product goods as well as digital goods too. So all those things all set but the confusion I have is

My product like books and all will be manufactured in India and my customer would be around the globe . I have my family in India to handle things there

I don't want to ship things in singapore because it would be like additional shipping cost and plus I don't have man power here to manage shipping from here but from India it's manageable
But selling would be done from here singapore that's sure so what should I do?

How to set up the billing process , I learnt that for small out of scope business GST is not imply but how to business keeping India as wearHouse

How do I register or connect that part with my current company should I employ my Sister or should I make them partner and they handling shipping for me how to manage money in that case
In India how to show that income though I know there also below certain income you don't need to show anything
But before I start anything I want to do everything with perfect ground work so no problem in future and that's why I am looking for proper solution

If anyone have some experience in this setup please let me know I can mail them too thanks a lot
Hope I am not confusing things and clear enough

For GST, you should read this:
https://www.iras.gov.sg/IRASHome/GST/GS ... -customer/

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Strong Eagle
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Re: Need advice for online business

Postby Strong Eagle » Tue, 10 Oct 2017 3:22 am

What you are referring to is often called "drop shipping". You have a business that sells goods to consumers but the actual packaging, delivery, and fulfillment of the goods is performed by another company.

In your case, you would need your legal Singapore business entity that you have setup. You would also need a legal entity in India that you would be engaging for services.

You have several ways you can setup your financial relationship with your India fulfillment company. For example, your Singapore company could acquire all the products you are going to sell and have them shipped to your India address. In this way you purchase the goods, pay for the shipment, then only pay your Indian company for the actual packaging and delivery of the orders that come in.

Or, you can have the Indian company acquire the goods that you are selling. Then, you pay the Indian company a per piece rate that covers everything... the goods, the packaging and delivery.

I can't tell you which way is best because I don't know anything about Indian tax law. You will need to find this out.

As for Singapore GST, you won't need to collect it unless you are selling goods into Singapore... and then you need to collect it only if your gross revenues exceed $1 million.


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