All you need to on Paytm Seller Registration Process and Documents Requirement

PAYTM, which began as a mobile wallet in August 2010, has now expanded into the e-commerce space. Today, it is a popular shopping site, and online retailers are benefiting from the convenience of conducting business by registering on Paytm. This article focuses on the Paytm Seller Registration process and the documents required to become a Paytm Seller.

Introduction

Paytm, a new entrance into the Indian e-commerce sector supported by the Chinese Alibaba Group is rapidly rising thanks to its novel mobile wallet concept. Paytm, which began by providing online mobile and DTH recharging services, has grown into a full-fledged e-commerce platform that sells everything from gadgets to bus ticket tickets. With Paytm’s sales and client base growing at a rapid pace, now is the greatest time to join the platform as a seller.

Why is it important to become a Paytm Seller? 

The biggest benefit of becoming a Paytm seller is that you don’t have to worry about developing and maintaining an eCommerce website and can instead focus on promptly delivering client purchases. Furthermore, anyone can become a Paytm seller and progressively build up, as becoming a Paytm seller involves little or no capital. Discounts and cashback have spurred massive growth in India’s eCommerce business over the previous few years. Paytm is the most recent arrival into the market, with over 10 crore customers and 60,000 sellers covering 500+ product categories throughout 39000 pin codes in India.

Eligibility criteria to become a Paytm Seller

• One Person Company.

• A Private Limited Company or A Public Limited Company can register themselves as a registered Paytm Seller.

• Partnership Firm.

• Individuals can register and sell their things through the Paytm Platform on their own.

• Limited Liability Partnership.

Documents required for Paytm Seller Registration

• Name of an Individual or in case of any business than name of a business is needed.

• Contact Number of the entity registering itself.

• Email Address of an entity.

• PAN Card information.

• Current Bank Account details are needed.

• GST (Goods and Service Tax) Registration.

• Certificate of Incorporation in case of a company and copy of Partnership Deed in case of a Partnership Firm.

• Address Proof (utility bills, passport copy, any other needed for the registration).

Process for Paytm Seller Registration    

• Go to the Paytm Seller Portal

• The ‘SIGN UP’ form must be completed with all required information such as name, email address, and documents.

• An email is sent to the registered email address for verification, as well as an SMS to the registered phone number.

• Following the verification, the KYC documents, which include the entity’s or individual’s identity evidence PAN Card information, and address proof, must be submitted.

• After that, the products will be cataloged. You can hire a professional photographer and model to exhibit your products in an appealing way for the greatest user experience.

• The things you have categorized can be advertised on Paytm and shown on your own website. There are no costs associated with listing products on Paytm.

• Paytm deducts a fee for hosting the merchandise. The merchant can begin selling the merchandise once all of these processes have been accomplished. You will receive an email confirmation as soon as the products are sold.

Suggested Read: How to register as an Amazon Seller?

FAQs for Seller Registration on the  Paytm Platform

1. Is it necessary to register for VAT in order to sell on Paytm?

Yes, you must register for VAT in order to sell on Paytm. However, VAT registration is not necessary for the sale of unstitched clothes, publications, and handicrafts. A seller, on the other hand, can start selling on Paytm without a VAT registration by making an assurance to obtain one. Paytm, on the other hand, would suspend payments to the seller until VAT registration documentation is submitted.

2. Should I form a Limited Liability Partnership (LLP) or a business to sell Paytm?

Serious sellers or those with an existing business who want to start selling on Paytm can set up a Private Limited Company or LLP. Having a distinct legal corporation will safeguard the promoters from any culpability in the event of a lawsuit. Because most online retailers sell to customers all over India, limited liability protection is recommended.

3. Is it possible for me to register, If I do not have GST / GSTIN Number?

You can register as a vendor if you have a PAN card, but you will only be able to sell in tax-exempt categories. A GSTIN number is required to sell any other products.

4. What does Paytm Mall Courier Partner Enabled (LMD) means?

It is the Paytm Mall Courier Partner Enabled mode (also known as Last-Mile Delivery), which means you will be using Paytm Mall to ship your goods to your consumers.

5. What exactly is a Paytm Gateway Fee?

It is the fee you will have to pay when you use Paytm Mall to make a payment. This is computed on the product’s selling price and is set at 2.7 percent + GST (Goods and Service Tax) 18%.

Conclusion

Paytm is a joint venture between a newcomer to the Indian e-commerce business. It is supported by a novel mobile wallet idea. It is advisable for all types of businesses to register on Paytm because it provides a wide range of services without imposing geographical restrictions.