Category: Business Tips

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Everything about GST Identification Number

GST Identification Number Brings Unified Market in India!

Once GST is implemented it will provide a unique identification number which is also called as GSTIN or GST Identification Number. It is similar to the TIN number which is assigned under VAT law, but it will be under just a single authority. Definitely, this will create a better tax administration and improve collection of taxes.

The structure of GSTIN:

  1. The GSTIN will be a 15 digits long code for all taxpayers.
  2. The first two digits will explain the state code and next ten digits will be a PAN number of candidates.
  3. 13th digit will tell the number of registrations a legal firm has within the state.
  4. 14th digit will be alphabet “z” which is constant for all the GSTIN.
  5. The last digit will be used as the checksum digit of the total number.

How can you apply for GSTIN?

The taxpayers need not to register again for GSTIN they will be validated through CBDT’s database. This registration is provisional for 6 months and as per the government requirement, candidates can submit relevant data within this duration. This registration is free of cost to everyone.

Profits having GSTIN:

If you are not registered to the GST Identification Number then you cannot collect GST from your customers neither can claim any input taxes credits already paid by him/her.

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What is GST and its impact on textile industries?

“Treat taxes like a responsibility, not as a punishment. “
Taxes are always treated as a burden, especially among business class people. GST is one of the biggest concerns these days among people. They are worried about if GST will be more costly for them and will it hamper their business. This guide will help you to understand GST completely.

What is GST?

It is Goods and Service Tax which is a tax imposed when any consumer buy a good or service. It is a combination of taxes levied by central and state governments. This tax is an important step for the removal of indirect taxation in India and will help in vanishing double taxation. It provides hassle-free movement of goods from one state to another without spending hours on the state border for tax payment. But on the same side, there will be somewhat increase in the tax rate.

Some of the features of GST

1. Removal taxes like VAT, CST, Central Excise Duty, Service Tax etc.
2. Now taxes on different goods and service will not vary from state to state. It be will be same for PAN India.
3. Under Integrated GST: The state in which end consumer stays, that state will get the tax benefit rather than manufacturing state.
4. C-forms will be eliminated and for interstate transfer, there will be electronic way bill so that the transfer of goods can be monitored by the central government.
5. New companies and startups will be benefited as it’s a simple procedure of taxation and ease in starting a business.
6. Under GST, no firms will be benefited in terms of taxes even if they divide themselves into a certain number of smaller firms.

Cloth Merchants are worried about GST and to answer their queries, here is the brief discussion about GST and textile industries:

GST impact on Textile Industry

Textile market is one of the biggest markets and plays a vital role in GDP growth via employment, export, etc. This industry bestows more than 11% in total export and has both organized and unorganized sectors. With the implementation of GST, this industry is going to have a huge impact.
The tax related complexities and distortions of small businesses are going to be sorted by GST. Now the workers of both central and state will be treated uniformly in terms of taxes. GST is going to remove the blockage of input tax chain, which is broken at the present time. There will be fewer disputes because of single rates and of course GST is going to increase the GDP growth.

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All about Viscose: a material to manufacture Kurtis

Viscose is a fabric normally called as viscose rayon or simply rayon. It is a semi-synthetic material used to make shirts, dresses, linings, Kurtis, shorts, coats, jackets, and other outfits. It is one of the most versatile materials available for various industries.

Viscose rayon has luster, bright in colors and gives a good drape that’s why it is known as artificial silk. It has many properties of cotton like comfort-ability, good breath-ability, and more dye-ability. Its touch is awesome and the property of biodegradability makes it usable for the medical purpose like surgical caps, masks, wipes, etc. It is one of the best fabrics in the 21st century and some of the properties are given below:

1. Lustrous Textures:

This fabric is very silky and gives a good feel when you wear. It is soft as cotton, easy to drape and light so you can wear it casually. It is very famous fabric among the women because of its desirable qualities. Nowadays this fabric is preferred for both formal and informal clothes across the world.

2. Printed Rayon Patterns:

It is easy to fabricate with different styles including printing. These outfits don’t shrink much because it is smooth and shiny the prints which looks nice with rayon. The weaving of these fabrics adds comfortability to wear and increases its popularity in summers.

3. Even suitable for Humid weather:

Viscose is suitable for Humid weather condition because of small pores within the fabric. The dyeing process is also simple and stays for a longer time duration, therefore, one can easily wear it in the rain. The colors are strong and stay for a longer duration adding more demand for viscose.

Carry your viscose Fabric properly:
You can wear a kurti, Salwar Kameez, lehenga cholis, men’s Kurtas, sarees and kids dresses in this fabric. From daily office wear to parties you can have all types of dresses with this fabric. A little care for viscose can increase its life for a longer duration. It needs to be washed with hands without many twists and wrings because of its delicacy.
Enjoy wearing the latest fabric- Rayon or Viscose and for wholesale purchase of rayon you can always try wholesalebox.

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Clothes that can be worn in Black colour

Trends in fashion industry vary rapidly. Each day a new trend comes in and old gets vanished. Yet there are some trends which never go out of trend and Black colour clothes is one of them. The colour black has many connotations. For some, it is a color which represents darkness and mystery, while for some it is a color of power and authority. Black suits every skin tone and is a figure – flattering color. It is a classic and most preferred color in both men and women’s clothing for all seasons. Wearing head – to – toe Black is the easiest and modish way to get dressed up. The best part of this color is it camouflages every stain and dust.

We at Wholesalebox provide a wide variety of best quality clothes and accessories both for men and women at wholesale prices for retailers. It is an online platform which bridges the gap between manufacturers and retailers and provides facility to deliver the order at the chosen place. Thus, shopkeepers can sell trendy and fashionable clothes and accessories to their customers easily. The color black is present in almost every type of clothing from ethnic dresses to western dresses. Following are some ethnic and western clothes, trendy at wholesale price:

  • Saree: A black colour saree is the safest way to dress up for any event, whether it is a sophisticated cocktail party or a big wedding. Every woman loves to flaunt the black saree. It is the perfect answer to “What to wear?”. It gives plenty of choices to experiment with your look. A black saree is the first choice among young girls as it highlights their sensuous side of personality.

  • Kurtis: Kurtis is worn not only casually, but is now worn formally in offices as well as at parties. Kurti is a garment that makes the woman look modern as well as traditional at the same time. A simple black colour clothes or a kurta can be styled up with simple accessories while going casually either to hang out or shopping. You can style up your party wear suit with the hair bun, glittering earrings, simple makeup and at the end carry your Minaudiere bag and you are ready to go for an evening party.
  • Western wear: Black top or T- shirts can be found in every girl’s wardrobe as it needs no maintenance and is cool to wear. A black top with blue jeans is a combination which never fails. These tops can be worn on a type of bottom like shorts, capris, skirts, patiala, etc. Black top is the preferred choice to wear on colorful bottoms. The black colour has an ability to make the woman appear slim; hence black color dress is the foremost option for an evening party. It looks elegant on every body shape. Wear it on black silhouette and black accessories to have a head – to – toe black appearance. You can also wear flat glittering bellies.

  • Bottom wear: When you don’t understand which color bottom will go best with your top or kurta, then black on the bottom will solve your problem. Black color fitted jeans can be worn under Kurta as leggings.

  • Men’s shirt: Not every man has a sense of fashion and style. For some guys, it takes a lot of time to dress smartly. A man can wear a black color shirt either in office or a party without a rethink.

  • Trousers: Trousers are comfortable and versatile bottom wear for men. Black trousers are great for any occasion and can be easily dressed up to be a gentleman. They are ideal for matching with simple T- shirts for casual wear as well as shirts for formal wear.

The black colour clothes, was and will always be an integral part of the fashion industry. Every piece of clothing always looks better in black. Love for color BLACK will never fade. Till then stay healthy and keep shopping!!

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How online Wholesalers are important for manufacturers?

The wholesale market is itself a very big market of this world and has huge potential to grow in future. These days the selling method of manufacturers is changed and shifted more towards online wholesalers. The online wholesalers bridge the gap between manufacturers and retailers by providing goods to retailers on wholesale price. The reason for this drift is the manufacturers’ supply chains of these offline stores are very complicated and they are finding it difficult to sell through them. To get more profitable business manufacturers are moving towards the more authenticated market of online wholesalers. This also makes the process simplified and systematic with a good relationship with manufacturer and retailer. Some the reasons which make the online wholesalers a boon for clothing manufacturers are:

1. More Profitable market:

Online wholesale selling provides a relief by removing the need for the middle person and the markup fees of the third party person. This will give the manufacturer an opportunity through which he can sell the products at his own price. Usually, the manufacturers prefer to sell goods in bulk to retailers, so even retailers don’t prefer to buy from manufacturers. The online wholesalers display all the items on the website and thus makes the process easier for retailers. This will, of course, led to good sales and make selling more profitable.

2. More of branding without additional cost:

As the online wholesalers display manufacturers products online which is promotional for your brand. Online availability itself adds authenticity to your business. The manufacturers’ goods are re-branded under the name of the wholesaler’s umbrella that too without paying a single penny. The wholesaler does a lot of promotional activities to sell it to retailers and is profitable for manufacturers.

3. Updated with industry knowledge:

A positive competition is necessary for your future betterment and online wholesalers provide you a platform for that. As there will be numerous products with different brand names available online along with the products so you check out the information associated with other products including your competitors. You can compare your fabrics, price and improve yourself accordingly.

4. Opportunity to expand:

The market is restricted to limited wholesalers and distributors for manufacturers and with online wholesalers, their reach becomes the whole world. Also, as per the demand of different people, you can diversify in products and expand in other regions too. Also, wholesalers buy your products so it is more secure to launch your new products.

5. Money Making:

If a business is done properly, it becomes more revenue generating and with online wholesalers you can have a huge size of networking to sell your goods. Once you reach a good height it, of course, generates more credibility and authority. One can easily negotiate for the rates when you become a brand and apply tricks for more sale.

Here discussed some of the best tangible profits being a manufacturer for the online wholesale store, but it all requires hard work, passion, good fabric and of course a supporting online wholesaler like Wholesalebox. If you want to sell as a manufacturer or buy as a retailer then comment in the text box given below!

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5 awesome Steps to run a retail store successfully

In India business is no more restricted to a particular caste, but it is now a part of every family. But there is some kind of insecurity among retail store owners due to the online business. The most disturbed markets are fashion clothes and handicrafts. The bigger companies like Flipkart, amazon etc. provide a huge discount on various items and hampers the traditional business. Even if these traditional shoppers try to provide some kind of “Sale” but they don’t have that big margin. There is a strict need to improve this traditional market.

How Traditional Businesses work?

Let’s say your retail store is located in Ahmedabad and there is a huge demand of Kanjivaram Silk Sarees found in the southern part of India. Then there occurs a need to go to south and any buy sarees. Can you imagine the cost involved in this whole purchase, including your travel, margins of dealers etc.? That will be huge! But ordering such things through online wholesale stores can be a real benefit. There will be no loss in your retail store during your travel as you can order online sitting anywhere.  So the first awesome step for a good retail store is to purchase goods by online wholesale stores.

The second step of running a traditional business successful is to decide the business as per the location. Another way is to don’t keep a huge stock, especially for fashion clothes and eatables. It is always better if you keep different articles in your stores rather than keeping a limited edition. There are several other points which can bring business to your retail store and we are going to discuss it below:

1. Buy directly from online wholesalers:

This is the time for technology and the best way to get updated about diverse things without going physically. Now the businesses have also come online. There are websites or channels which connect the retailers to manufacturers and protect you from the margins of distributors and channels. This direct channel will always give you the best price as the prices are online and you can compare it with other wholesalers. Also, it is beneficial to reduce the traveling costs.

2. Store location matters a lot:

Fulfill your dreams of having a store with a proper store location. It becomes really important to know the nearby crowd of your store. Find the nearby shops, people and the sales of the market so that you can estimate what kind of articles will be better to sell. Try to have the shop in areas of high traffic. For a new store, you can also go some branded franchise to earn popularity. Choosing a location just because it is nearby to your house is not a good option and check all the circumstances for best outputs.

3. Keep minimum Stock:

Stocking shelves are the toughest task and the biggest mistake in some of the cases. It is not suggestible to keep a lot of stock because of fashion changes like a flash of light. For stores in which you sell eatables should also have limited stock because there are high chances of damage if not sold out. In such cases, you can always opt for online wholesalers who can provide you delivery for products instantly without paying much for traveling.

4. Proper Hiring:

If you hire dull and boring people, then forget about sales. In retails hire a dynamic and impressive salesman and other people. The young people always try to do better and learn more from your business. Before hiring always gather knowledge about their hobbies, interests and their mentality about your business. It is important to tell them about your market and explain about the products in details.

5.  Run your business on the clouds:

Try to replace your on-premise software with cloud-based to avoid headaches when you are not available in the shop and unexpected errors in your device. The things like sales, inventory, etc. are really important to be on the cloud.
With all these provided options you can make your typical retail store as an awesome store with real time benefits. It is the time for digital India and time to digitize your store without taking a second thought.

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How Traditional business can compete with online business?

Image of Ecommerce affecting businesses

“If you are not online then you are out of business race”

Is this true? The traditional businesses are imagined as four walls surrounding a mess of boxes, every month the businessman is traveling to buy shopping products. This type of business had no weekends and no time for family and restricted to typical men’s society. Can we change this orthodox and gender biased society? Where everything is online, what if traditional business also drifts towards the online buying of wholesale goods rather than every time going to market for purchase?

There is a company Wholesalebox -online wholesaler who overcomes this long gap between retailers and manufacturers.  They are an online platform permitting the retailers or shopkeepers to buy hassle free and improve procurement costs. They provide you a better product quality and orders are delivered at their chosen place. A detailed description for the profits, retailers can have by ordering online are given below:

1.  Traveling Cost saved:

It was a necessity for a businessman to travel to different cities for business purpose, i.e. to buy goods from different regions of India. Imagine a good which is brought to your shop through a channel of 4 different wholesalers of different cities and having their own margins, but buying online directly from manufacturers will save you traveling cost and of course, there will be less commission added to your product. With Wholesalebox online service you can save up to 25%-35% of the procurement cost on all the orders. They show product cost online and buy direct from the manufacturers so there is just a little margin their products.

2.  Business not Disturbed:

A Nuclear family concept is the latest these days and a big problem for business class. Earlier if a businessman is traveling for any business, then his family used to take care of the shop, but now for nuclear families, salesman or some helpers look after the business. This hampers the business, but if these traditional businesses shop online, then there is no need to leave your business for days until and unless you are on holidays.

3. Time-saving:

Traveling from one place to another for newest collections is a time-consuming task, but businessman always wants best and diverse collection for their customers. Now, through online purchase of wholesale goods saves time and energy. Also, you travel to various manufacturers regularly for the latest fashion while through Wholesalebox shopkeepers can be updated with the latest collections online anytime anywhere.

4. Updates on Fresh Stocks:

The biggest reason for traveling is the search for latest stocks. Usually, in fashion clothes, it is very important to keep yourself updated with the latest trends and thus shopkeepers keep on traveling to different cities for some new stuff. But online wholesaler update latest fashion clothes almost every day that too from pan India. Retailers just need to find out clothes daily on the website or mobile application simply add them to the cart and proceed further.

5. Best Price Displayed:

The main problem with the fashion brands is the price fluctuations from one manufacturer/wholesaler to another which kills maximum time of retailers. Wholesalebox declares its price openly(online) without any other hidden pricing and adds ratings after passing through quality check process. It is easier to compare your wholesale shopkeepers/manufacturers’ price along with your travel costs and wholesalebox price.

6. Better Money Flow:

Usually retailers have concerns that they take the goods without instant payments. Wholesalebox does not believe in money borrowings, they think that money flow is an important part of business. If you shop offline, you try to gather maximum stuff in one visit. But through wholesalebox, you can minimum order even for very low amount. It also allows you to keep your store/shop updated with latest trends rather than stuffing all at a time and resolves the dead stock issues.

7. No gender discrimination:

The major problem, why women are not into traditional is this casual traveling for gathering products for sale. Traditional business is men dominating, but this idea of wholesale online buying is a rational decision and gives chance for women to come forward into business.

Time to change your thoughts, this is the time of digital India. Through wholesalebox it is the time it updates your traditional business ideas with online wholesale shopping. Once you start using this online platform nobody can stop your growth.