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Hiral Jain

CA inter • 1y

Doubt: Let's suppose that I run an online store that sells decoration lights via Instagram and generates 10lakhs In a year, Will this amount be taxable? Should I get Gst no of my own? As I'm still 16. Can anyone also tell me how to sell products on Amazon, meesho etc.

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Sairaj Kadam

Student & Financial ... • 1y

I've been thinking about your business strategy and wanted to share some thoughts with you. It seems like you've built a strong presence with your existing platform and customer base, which is fantastic. Now, when it comes to obtaining a GST number, it could be a smart move, especially if you're generating significant revenue and want to streamline your tax compliance processes. Having a GST number can add legitimacy to your business and allow you to claim input tax credits, which can ultimately benefit your bottom line. Plus, it may be necessary for certain transactions or partnerships down the line. As for selling on other platforms like Amazon, while it may seem like a tempting option, focusing on growing your own platform first could yield better results. By investing in your brand and engaging with your existing audience, you can build a loyal customer base that's more likely to support your business in the long run. If you need more detailed insights or assistance Reach out!

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