- Choosing the right legal business structure- It is the most important step for a company, as a different set of legal business structure (Limited Liability Partnership, Partnership, Company, Sole Proprietorship, etc) come with different compliances.
- Opening a Current Account- A Current Account is a zero balance account which is used by business entities. Also, it comes with various facilities such as overdraft facility, helps in separating business transaction, etc.
- Getting Goods & Services Tax (GST) registration- It is mandatory for an e-commerce business to get GST registration done.
- Deciding a secured payment gateway system- A payment gateway would be required for customer payments. These payment gateway providers allow for the website to accept credit card, debit card, net banking payment system. Therefore, deciding a secured payment gateway is an important step for any e-commerce business.
- Drafting proper terms and conditions document, privacy policy and disclaimer.
- Vendor’s Agreement- Such agreement which shall define the relations between the vendors, their rights and duties and the company’s right to act against the vendors in case of default.
- Securing websites data by hiring data securing agencies- It is important to secure the website’s data as there is always a threat of losing data. Thus, e-commerce business must hire data securing professionals to secure its data.
- Adherence to cyber law crimes- An e-commerce business operating in India must not engage into transactions or activities which are covered under the ambit of cyberlaw crimes.
- Compliance with Information Technology Act, 2000- Each e-commerce business operating in India must comply with the provisions of the Information Technology Act, 2000.
- Compliance management of accounts and taxes- It is extremely critical for sustainable growth of any business to have thorough legal, secretarial, accounting and taxation compliances.
