Today at Legal Adda we are discussing about “Sell on AskmeBazaar“. Ecommerce Industry is trend in India & Most of the Startups and offline small shopkeeper want to change their business strategy as e commerce but they do’nt have knowledge about the technical and marketing things so that’s why they are always looking for the solution which can promote their products & help them to sell. Ecommerce Marketplace like Snapdeal , Flipkart, Amazon or Ebay , Shopclues or Newly and fasted growing website Askmebazaar is the solution.
How to Sell on AskmeBazaar
AskmeBazaar was founded in 2012 as a 100% subsidiary of India’s largest yellow pages business Getit Infomedia. AskmeBazaar is today India’s largest managed marketplace that recreates the great Indian shopping experience online.
As per AskmeBazaar Website they have some Unique USPs about Sell on AskmeBazaar –
• India’s only e-commerce portal with extensive understanding of the SMEs thanks to the rich legacy of its parent brand AskMe.
• Sellers across India have to no longer worry about logistics. They can partner with AskmeBazaar and leverage our largest network of logistics service providers in the country.
• Free listing and catalogue uploading services.
• Sellers get free analytics support to unlock valuable insights around which they can chart the growth of their business.
• Time-bound payment settlements. The advent of NDD has further reduced the payment time because of faster sales realization to the seller.
• AskmeBazaar offers dedicated account management services for privileged sellers.
Even as per Alexa Rank AskmeBazaar is the India’s Top 128th Website in terms of the website traffic. So Let’s learn How to Sell on AskmeBazaar with step by step procedure –
Legal Aspect for Sell on AskmeBazaar
a) Registered Business Legal Entity –
For the Registration on the AskmeBazaar Seller portal as per their website checklist they said to sellers that you have to remember the laws so basically in India for doing the Ecommerce Business as Seller you need a registered legal entity with the proper tax registration i.e is called VAT/CST Registration in India.
So in India there are 5 type of the Legal Entity which are popular so your business is registered with following anyone legal entity –
- Sole Proprietorship Firm – its a Simple Firm and require any Shop Act License Registration or VAT/CST Registration Certification from your State Government.
- Partnership Firm – Its a simple firm with the partners and require partnership deed & pan card number.
- LLP – Its a new concept of the business legal entity which is mixture of the Partnership firm and proper private limited company. its registered with the central government which is Ministry of Corporate affairs.
- Private Limited Company – Its a Proper company which is registered with the central government. its has a limited liability in the business.
- One Person Company – its a similar like Private limited company which is required only one person
Tip :- if you want to test your idea on the AskmeBazaar or any other ecommerce portal then go with the simple Sole Proprietorship Firm in India.
b) Apply for the Proper Tax Registration
For the Selling on any ecommerce portal or Askmebazaar you need mainly a tax registration which is imposed by the each state government i.e is called VAT ( Value Added Tax). For the Interstate selling you need also the CST Registration. In each state their have own rules and regulation, even in some state its a really expensive due to security or guarantor concept.
c) Open a Bank Account on your Business Name
After the Business Legal Registration you have to open a current bank account on your Business or Firm or Company Name so you can issue to your customer & get the Payments from Ecommerce Portal through NEFT in your Account.
Which Products you can Sell on AskmeBazaar
For the Selling on AskmeBazaar you can sell any type of the products. From consumer durables to electronics and a lot more! There is no dearth of categories in which you can list your products but yes the onus of selling products that comply with Indian rules and regulations lies with you.
Transactions Charges to Sell on AskmeBazaar
AskmeBazaar Charges two type of the Transactions Charges –
a) Nominal Commission –
Its a Commission which is earn by the the Askmebazaar to selling your products. during the settlement process they deduct the Commission of 7% on the selling price of your product.
b) Logistic Charges –
AskmeBazaar Charge on the Logistic Services which is provided by them to the sellers. even they have good Logistics services as compare to other marketplace. even their USP is Next Day Delivery Concept.
Their logistics charges are as follows:
- A product which is less than 500 gm will cost Rs.45*
- Any product over 500 gm and less than 5 kg will bear a logistics fee of Rs. 100*
- Products between 5 kg and 20 kg of weight will be charged a flat fee of Rs. 500*
- There are absolutely no Charges on Returns, Cancellations & Payments
Seller Checklist to Sell on AskmeBazaar
How to Signup on AskmeBazaar
For the Signup on AskmeBazaar you need 4 things information –
a) Basic Information like Business Name and Business Description which you want to show on their portal
b) Contact details of the Sellers which is used by the AskmeBazaar system and team.
c) Working days of the your business.
d) Financial details regarding the Pan Number, TIN Number (Which is also called VAT/CST Registration),TAN Number, VAT Certification Scanned Copy, Pan Scanned Copy, Current Bank Account Cheque Scanned Copy.
e) Business Current Bank Account IFSC Code, Bank Name, Bank Branch, Account Number & Beneficiary Firm or Business Name.
So you can Signup through This AskmeBazzar Registration Form with the above details.
Why you have to Sell on AskmeBazaar
AskmeBazzar clearly explain through below video about the Why Online Business is the way forward.
Testimonial of AskmeBazaar Seller
Below is the Video from AskmeBazaar Testimonial of the Sellers
Resources Which is Helpful for you
a) AskmeBazaar FAQ Web Page for any Questions.
b) Seller Helpline Number – 1860-208-8888
c) MyOnlineCA – which a good website to register your Business Online as Legally in India.
For any Legal Queries you can Fill Up Below Business Intelligence Form and Get Instant Answer from India’s leading Online Legal Service Provider “MyOnlineCA“.