The Ultimate Guide for Myntra Sellers: Accounting, GST & Income Tax Made Easy
Table of Contents
Most Read
(Brought to you by [fusion_dropcap class="fusion-content-tb-dropcap"]A[/fusion_dropcap]ccounting24.in – Your E-commerce Tax & Accounting Experts)
If you’re a Myntra Seller, you already know how exciting it is to be part of one of India’s top fashion marketplaces. But behind the scenes of every successful sale lies one critical part most sellers overlook — accounting and taxes.
At Accounting24.in, we’ve helped hundreds of e-commerce sellers like you navigate GST, file income tax returns, track refund status, and grow their business with stress-free compliance.
In this guide, we’ll break down:
- 📦 Myntra Seller Accounting
- 💼 Filing Income Tax Returns (ITR)
- 🔍 Income Tax Refund Status
- 🧾 GST Registration Process
- 📅 Income Tax Due Date
And yes — we’ll explain everything in simple words, not accountant-speak.
📒 Myntra Seller Accounting – What It Is and Why It Matters
Myntra Seller Accounting means recording, managing, and analyzing all your business transactions related to Myntra sales.
📌 Why is it important?
- Track Your Profits: Know exactly how much you’re making after Myntra deductions.
- Tax Compliance: Helps you file accurate GST and income tax returns.
- Avoid Legal Trouble: No one wants to receive a notice from the tax department!
- Better Business Planning: Helps in budgeting, inventory management, and business growth.
🧮 What should you account for?
- Sales from Myntra (monthly reports)
- TCS (Tax Collected at Source) deducted by Myntra
- Commissions and fees charged by Myntra
- Shipping charges and return fees
- GST on sales and purchases
- Business expenses like packaging, salaries, advertising, etc.
If you skip this, you risk penalties, missed refunds, and financial chaos.
👉 Don’t want the headache? Let us manage it for you — we’ll handle the accounting, while you handle your business.
📊 Income Tax Returns: File Smart, Stay Safe
Whether you earn ₹2.5 lakhs or ₹25 lakhs on Myntra, filing your income tax return is essential. Not just to stay compliant, but also to:
- Claim TCS credits from Myntra
- Get refunds faster
- Apply for loans or credit
- Avoid income tax notices
Need help? Get your ITR filed by professionals at Accounting24.in →
🧭 Want Your Refund Fast? Here’s How to Check Income Tax Refund Status
Don’t wait blindly for your refund. Check your refund status like this:
- Go to incometax.gov.in
- Login with PAN
- View “Filed Returns”
- Track your refund
💡 Tip from our experts: Make sure your PAN is linked to Aadhaar and bank account is validated to avoid refund delays.
🧾 GST Registration Process for Myntra Sellers – Fast & Simple
Every Myntra seller must register for GST. Even if your turnover is below ₹20L, it’s mandatory for e-commerce.
Don’t worry — our team at Accounting24.in will register your GST within 3–5 working days, with full documentation support.
📌 Click here to apply for GST registration now →
📅 Never Miss the Income Tax Due Date Again
| Entity Type | Due Date for ITR |
|---|---|
| Individuals/Sole Prop. | 31st July |
| Businesses with Audit | 31st October |
🛑 Missed deadlines = late fees + interest.
💼 Want us to file on time and save your money?
📞 Book your consultation →
🧾 How Myntra Seller Accounting Differs from Amazon/Flipkart
All e-commerce platforms operate differently, so your accounting should too.
⚖️ Key Differences:
| Category | Myntra | Amazon/Flipkart |
|---|---|---|
| Commission | Higher for fashion items | Varies by category |
| Settlement Cycle | Weekly or Bi-weekly | Daily or Weekly |
| Reports | SKU-wise, Return Summary | Settlement Reports |
| TCS Rate | 1% | 1% |
| Accounting Complexity | High (due to returns & discounts) | Moderate |
💡 Each platform’s payout structure affects your GST and income tax reporting. Always keep platform-specific ledgers.
📈 How We Help Myntra Sellers at Accounting24.in
Here’s what we do for e-commerce sellers:
✅ GST Registration
✅ Monthly GST Filing (GSTR-1, GSTR-3B)
✅ Income Tax Filing & Refund Tracking
✅ TCS Reconciliation from Myntra
✅ Business Expense Tracking
✅ Profit & Loss Reports
✅ Audit & Compliance Advisory
Everything handled. No stress.
💻 Get Started Here → Accounting24.in
🔍 Common Mistakes Myntra Sellers Make (And How to Avoid Them)
Let’s wrap this up with a few real-world mistakes we’ve seen Myntra sellers make.
❌ Not maintaining books of accounts
👉 Fix: Use software or hire an accountant from day one.
❌ Missing GST filings
👉 Fix: File monthly, even if there are zero sales.
❌ Incorrect ITR form
👉 Fix: Choose the correct ITR based on your business type.
❌ Ignoring TCS deductions
👉 Fix: Reconcile your TCS from Myntra with your 26AS tax credit report.
❌ Late ITR filing
👉 Fix: Mark the income tax due date on all your devices and don’t miss it.
🔥 Why E-commerce Sellers Trust Accounting24.in
⭐ 100+ E-commerce Clients
⭐ Transparent Pricing
⭐ Dedicated CA Support
⭐ Quick Turnaround
⭐ WhatsApp Support Available
✅ Let’s Grow Together – Final Thoughts
Whether you’re a new Myntra seller or a seasoned one scaling up — accounting and tax compliance is the backbone of your business.
Skip the confusion. Save hours. Avoid penalties.
Let the team at Accounting24.in take care of the boring stuff.
📞 Call us today or schedule a free 15-minute call:
📧 [email protected]
🌐 www.accounting24.in
📲 Or just Contact Us Now →
