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Dreamnity

website·Indexed 31 days ago

https://dreamnity.in/styrocord.js

A compliance and payment platform built for Indian freelancers that handles GST invoicing, international payouts, and Merchant of Record services with a 5% platform charge.

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What's inside Dreamnity

  1. Overview of Dreamnity for Indian Freelancers

    Dreamnity provides a payment and compliance infrastructure for Indian freelancers. It automates GST invoicing, manages compliance, and handles international payments and payouts. The service features a 5% per-transaction fee, no setup fees, and bank-grade security with RBI-compliant KYC. All data is stored on Indian servers using end-to-end encryption.

  2. Understand Dreamnity's Merchant of Record services

    Dreamnity acts as the Merchant of Record to simplify payments and compliance for freelancers and businesses. Their services include handling GST invoicing, tax compliance, payment collection, and managing seller payouts.

  3. Dreamnity platform features and benefits

    Dreamnity offers the following benefits for freelancers:

    • Zero Cost: No setup fees, upfront costs, or subscriptions.
    • Automated Compliance: Automatic generation of GST-compliant invoices to eliminate manual paperwork.
    • Payment Flexibility: Support for multiple payment methods including Cards, UPI, net banking, wallets, and international payment options.

  4. Understand Dreamnity's role as Merchant of Record (MoR)

    Dreamnity Global Pvt. Ltd. acts as the Merchant of Record for all transactions between clients and freelancers on its platform. In this role, Dreamnity serves as the legal seller of record for tax and compliance purposes. Key responsibilities include handling GST obligations, issuing all invoices (rather than individual freelancers), collecting payments from clients, and remitting funds to freelancers after deducting platform fees.

  5. Manage GST and tax compliance for freelancers

    Dreamnity handles all GST registration, filing, and payments to tax authorities for transactions on the platform. Freelancers are not required to register for GST. GST is calculated and collected on both the service amount and the platform fee. However, freelancers remain responsible for declaring their income in their own tax returns and paying applicable individual income taxes.

  6. Get paid professionally using Dreamnity

    Dreamnity provides a four-step workflow for freelancers to collect payments and manage invoicing:

    1. Sign up & verify: Create an account via email and complete KYC verification using PAN and Aadhaar. Provide bank account details for payouts.
    2. Create payment link: Generate a secure payment link by specifying the amount in INR and adding client details/descriptions.
    3. Client pays: Clients pay via Razorpay using cards, UPI, bank transfers, or international methods (supporting 100+ currencies).
    4. Auto GST invoice & payout: The system automatically generates GST-compliant invoices. Funds are settled to the user's bank account within 2-7 business days.

  7. Understand the payment and settlement flow

    The transaction flow for payments on the Dreamnity platform is as follows:

    1. Clients pay Dreamnity (the MoR) for services.
    2. Dreamnity collects the payment, handles GST compliance, and issues the invoice.
    3. After the freelancer completes KYC verification, funds are settled to the freelancer's bank account.
    4. The final settlement amount is the total minus the platform fee and applicable GST.

  9. Freelancer requirements and fee structure on Dreamnity

    Freelancers using Dreamnity are treated as independent contractors. Key requirements and terms include:

    • Mandatory completion of KYC.
    • A transaction fee of 5% per transaction.
    • GST invoicing and tax responsibilities are managed by Dreamnity, meaning freelancers do not need to register for GST independently.
    • Refunds and disputes are currently handled directly between the client and the freelancer.

  10. Set up and receive payments with Dreamnity

    To start receiving payments and generating automatic GST-compliant invoices, follow these four steps:

    1. Sign up: Complete the KYC process using your PAN and Aadhaar (estimated time: < 1 minute).
    2. Create a payment link: Generate a secure payment link to share with clients.
    3. Client Payment: Clients can pay via UPI, cards, or bank transfers.
    4. Payout: Funds are settled directly into your bank account.

  11. Dreamnity platform limitations and settlement process

    Dreamnity is not a wallet, bank, or escrow platform. The platform is not liable for project outcomes, delays, or incorrect user data. All financial settlements are processed via Razorpay following the completion of KYC.

  12. Review Dreamnity platform features and benefits

    The 5% transaction fee includes access to the following features and services:

    • Unlimited payment links
    • Auto GST invoicing and Easy Invoicing
    • Dashboard access with real-time analytics
    • Payment notifications
    • Support for international payments
    • Email support
    • Payouts: Funds settle directly to the bank account within 2-7 business days.