Tax & KYC Requirements

Tax & KYC Requirements – PurvX India

This page explains what KYC documents are required to sell on PurvX India and what tax responsibilities apply to individual and business sellers.

Last updated: 30 Oct 2025

1) KYC Requirements (Know Your Customer)

Why KYC? KYC keeps the marketplace safe, reduces fraud, and ensures payouts go to the correct person or business. It also helps PurvX India meet banking and compliance obligations.

Important  Submit your KYC documents when you register as a seller. After verification, we approve your account so you can list. We collect your bank details only after your first successful sale to process payout.

For individual sellers

  • PAN (mandatory)
  • Aadhaar (identity & address)
  • Bank account in the same name as your KYC and PurvX registration (provided after first sale)

For business sellers

  • Business PAN / entity PAN
  • GSTIN (if registered)
  • Business registration proof / authorised signatory proof (if applicable)
  • Bank account in the business name matching your PurvX registration (provided after first sale)

Name match is required: If you change your bank account later, it must still match the name on your KYC and seller registration (individual name or registered business name).

Privacy & data use: Your KYC and bank information is used only to verify identity, enable payouts, and meet compliance obligations. We store it securely and share it only with authorised verification partners or if required by law. If you close your seller account, you may request deletion/anonymisation subject to legal retention rules.

2) Tax Responsibilities for Sellers

Selling on PurvX India can be casual (occasional resale of your pre-owned items) or commercial (business activity). Your tax responsibility depends on which applies to you.

Individual sellers (casual resale)

  • For occasional, pre-owned/one-off items, GST registration is generally not required.
  • You are responsible for including any profits in your regular income tax return, if applicable.
  • Keep basic records (sale amounts, dates, PurvX commission, bank credits).

Business sellers (commercial activity)

  • Maintain GST compliance if you are registered; issue valid GST invoices as applicable.
  • Follow second-hand/used-goods rules if you operate in that trade (e.g., margin concepts where applicable).
  • File returns and keep records per the law (sales, returns, commissions/fees, bank credits).
Note on platform tax collection: PurvX India is not currently registered under GST and does not collect tax on your behalf. If this changes, we will inform all sellers and update this page.

Your responsibility: You are responsible for your own tax filings (income tax and, if applicable, GST). PurvX India does not deduct or remit taxes for you.

Quick Summary

Seller Type KYC Documents Tax / GST Responsibility
Individual (casual) PAN, Aadhaar; bank in same name (after first sale) No GST needed for one-off/used-item resale; include any profit in income tax if applicable.
Business Business PAN, GSTIN (if registered), registration proof; bank in business name Maintain GST compliance and invoices if registered; follow used-goods rules if applicable; file returns.

Related seller policies

Questions? Email support@purvx.in with your seller ID and topic (“KYC” or “Tax”).