Should I register as a firm or individual?

[Vihaan]

I am planning to open an online store to sell goods from overseas. I am expecting minimal revenue, therefore not sure if to register as a firm or get an individual GST number. Need an advice from knowledgeable GST specialists or seasoned internet vendors.

[Ritika]

Businesses in India that make more than ₹40 lakhs a year are required by law to register for GST; in some areas, however, enterprises with annual sales under ₹20 lakhs are exempt. , but there are a few things to keep in mind:

If you want a growth in future (more than 40 lakhs), early GST registration will increase the trust with clients and you may be able to reduce the tax liabilities by claiming the Input Tax Credit on Imported goods.

Individual Registration is appropriate for solitary proprietors, but it doesnot look profession.
And if you register as a firm it makes you more professional and promotes growth. But it has difficult tax and legal processes

[Shantanu Sharma]

For your online store, even if your revenue is minimal, you may need to register for GST in India. If your annual turnover is below Rs. 20 lakh (In some states its Rs. 10 lakh ), you are not required to register for GST.
But as you mention, you are involved in both interstate and foreign transactions, you need to register for GST no matter how much business you do.
With your expected minimal revenue, registering as an individual (sole proprietor) with a GST number is advisable for simplicity and compliance with e-commerce requirements.
It’s advisable to consult a GST specialist who can provide personalized guidance based on your specific situation.