Seller KYC & Verification Policy
Mandatory Verification Guidelines for Onboarding Merchants on Quick (quicksin.in)
WHY IS KYC MANDATORY?
In accordance with the Prevention of Money Laundering Act (PMLA), Goods and Services Tax (GST) regulations, and the Consumer Protection (E-Commerce) Rules, 2020, all sellers must complete mandatory Know Your Customer (KYC) identity and business verification prior to product listing and payout disbursement.
1Required Document Matrix by Business Type
Depending on your registered constitution type, you are required to submit legible, original scanned copies of the following documents:
A. Sole Proprietorship / Individual Sellers
- Proprietor’s PAN Card (Mandatory)
- Aadhaar Card / Passport / Voter ID (Identity & Address Proof)
- GSTIN Registration Certificate (Form REG-06)
- Cancelled Cheque or Bank Statement displaying Account Holder Name, Account Number & IFSC
- Shop & Establishment Certificate or MSME Udyam Registration (If GST exempt)
B. Partnership Firm / LLP
- Firm / LLP PAN Card (Mandatory)
- Partnership Deed or LLP Agreement
- LLP Certificate of Incorporation issued by MCA
- Authorized Partner’s PAN Card & Aadhaar Card
- GSTIN Registration Certificate in Firm Name
- Current Bank Account Cancelled Cheque in Firm Name
C. Private Limited / Public Limited Company
- Company PAN Card (Mandatory)
- Certificate of Incorporation (CoI), MOA & AOA
- Board Resolution appointing Authorized Representative
- Authorized Signatory’s PAN Card & Aadhaar Card
- GSTIN Registration Certificate (Form REG-06)
- Company Bank Account Cancelled Cheque / Statement
D. Category-Specific Regulatory Licenses
- Food & Beverages: Active FSSAI License Number & Certificate
- Drugs & Pharmaceuticals: Valid Wholesale / Retail Drug License
- Cosmetics & Skincare: CDSCO / Form 20/21 compliance
- Imported Goods: Import Export Code (IEC) Registration
2Verification Process & Review SLA
Our Compliance Verification Team processes submitted seller documentations adhering to strict SLAs:
- Turnaround Time (SLA): Document review is completed within 24 to 48 business hours from submission.
- Automated GSTIN Validation: GSTIN details are cross-verified with the Government GST portal to ensure active filing status.
- Bank Account Penny-Drop Test: A micro-transaction penny drop test is conducted to verify account holder name matching between bank record and registered business name.
3Document Rejection Criteria & Resubmission Workflow
Applications may be flagged or rejected under the following conditions:
- Mismatched Name: Discrepancy between PAN card name, GSTIN business name, and bank account holder name.
- Illegible Uploads: Blurry images, cut corners, missing pages, or unreadable text.
- Inactive GST Status: GSTIN found cancelled, suspended, or inactive on government tax portals.
- Expired Documents: Expired FSSAI licenses or outdated bank statements older than 3 months.
In case of rejection, sellers will receive an email notification detailing specific reasons and may re-upload corrected documents via the Seller Portal settings tab.
4Ongoing Compliance & Annual Re-Verification
Quick reserves the right to request updated KYC documents periodically:
- Annual re-verification for high-volume seller tiers.
- Mandatory immediate re-upload upon modification of bank account details or business registration address.
- Failure to furnish updated documents within 14 days of notice will result in payout temporary hold.
Need assistance with KYC upload or facing document rejection issues?
Contact our Compliance Desk at support@quicksin.in