1. Who can use PayPal?
All eBay sellers can use PayPal. All the freelance software professionals, data-entry operators, work-from-home professionals can use PayPal.
2. what is process of receiving a FIRC from paypal ?
The FIRC is issued by the Bank and not PayPal. FIRC is issued per remittance and not as per the sale. So if you sell USD 1.00 value items like me, you can withdraw USD 500.00 and for that a single FIRC will be issued by your bank. There wouldn't be separate FIRCs for each and every selling transaction on eBay.
3. what will be paypal charges for issuing a FIRC ?
Bank charges approximately Rs 150 to Rs 200 per FIRC.
4. what records we need to maintain ?
We need to maintain following records:
1. Our purchase invoices from the distributors from where we purchase our goods to sell on eBay
2. Our eBay invoice for every selling transaction on eBay
3. PayPal payment proof for the receipt of the payment related to every sale.
4. Receipt from courier / post office
Suppose you sold one 2 GB SD Memory card for USD 15.00 (free shipping)
You need to maintain -
Your purchase invoice for 2 GB Memory Card ( in bulk or single purchase)
eBay invoice as provided to the buyer
Proof of payment that buyer paid for that item (PayPal page's print-out)
Courier receipt/postal receipt
You need to maintain all the copies in physical form (hard copies). It should be well maintained and filed for each and every transaction on eBay.
If you sell 200 2GB SD Cards on eBay then you should be able to provide the purchase proof to support the sale
5.Our obligations towards Paypal, eBay & RBI for funds received through Paypal.
To receive funds from PayPal
1. PAN Number
2. Declaration that we are withdrawing money against the export of goods and services.
Obligations to RBI
1. PAN Number
2. Business Registration - VAT and Sales Tax Number
3. Current Account
4. IEC
6. PaisaPay and PayPal are same in terms of operations when PaisaPay is used to receive money from abroad. A person cannot escape all the legalities if they claim to use PaisaPay.
If you receive money in Foreign Currency, then you are obligated to fulfill the requirements as I have mentioned - Nothing less, Nothing more.
Hope this clarifies your doubts.