Is There Compulsory Need For Tin Number In Amazon

If your SMB Company or startup is seeking to sell products offline or online, opportunity is that you really have noted about the TIN number. Many business owners want to know about the importance of having TIN number and why does their company need this. While speaking about TIN, it is a term that means Taxpayer Identification Number. TIN number is used instead with VAT number (Value Added Tax). While speaking about “Tax Information Network”, it is the initiative made by the Income Tax Department in order to make the task of processing, accounting, monitoring and collection of the directly taxes online. Selling on the ecommerce marketplace really depend of the category sellers like to sell on Amazon.

Amazon sellers are now charged the commission which is entirely based on the category basis which varies from five percentages to twenty percentages. If you want to become a seller on Amazon, you are required to have some important documents. Having PAN card is a basic need to sell the products on Amazon. Along with this, you need to have the bank account as well as supporting KYC documents such as address proof, ID proof, cancelled cheque. The TIN number is not mandatory for certain websites. Generally, it is mandatory or compulsory to have the TIN number in order to get satisfied by Amazon strategies where the Amazon stores, return, ships, accepts and process your orders and provide client support to your customers. In order to apply for the TIN number, you can utilize the guidelines offered by reliable online website.