Buisness Buisness

3 years ago

Hi,
Iam irfan doing a legaly gst registered legal buissiness, i have an idea iam planing to start a special scheme this sche details are
*daily a customer deposit 100 rs to us
*total 150 days
*bonus monthly draw, one will get a product worth 15000 rupees and they cant pay back more
Other 96 customers will get that product in the last date that means the 150th day
My doubt is if i want to register or any other legal formalities.?

Ayantika Mondal @ Prime Legal

Responded 3 years ago

A.Hi,
No, you can offer this service as part of your registered business and do not need to do any additional registration.
You will have to specify the terms clearly to the customers and obtain their written/signed consent. This will allow you to indemnify yourself from any liability, so long as you mention the same to the customers.
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Anik

Responded 3 years ago

View All Answers
A.Hi,
No, you will not need to do any additional registration, you can offer this scheme as an additional service provided by your business. Be sure to clearly state the rules and obtain the customers' consent before going ahead with it. In addition, you can add a clause indemnifying yourself from any claims disgruntled customers might have in this regard.
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