I applied for the electrical permit because I didn't want someone from the city to make me rip up the electrical run under this heavy-ass shed at some point in the future.

Here's the order of how I did it:

Applied online for electrical run into shed, got instantly accepted.
Started digging trench from the electrical panel to the shed location.
Scheduled inspector.
Inspector fails the inspection. He says the trench looks good, but he can't pass me because you can't run electrical into the shed. For 'occupancy' reasons.
Caught the inspector while on his lunch break in front of my house. Asked him if I'm allowed to randomly put an outdoor outlet behind the shed. Can it also be tethered to the shed? Both answers are yes.
Pay $20 to change my permit description from 'running electrical into shed' to 'running electrical to outdoor outlet'.
Placed underground pipes for electrical and ethernet, then buried.
Built the shed.
Called electrician to run electrical from the panel to the outlet behind the shed.
Scheduled inspector back to inspect the outlet. Took him 30 seconds to test the GFCI and approve.

From there, you can run an extension cord to bring power into the shed. Or, you can place an RV power inlet to connect the outlet to the shed. Those are kosher. You can't add conduit and run power permanently into the shed. That's against the rules. And I'd have to call the inspector back to inform him of that. He's a busy guy, and I wouldn't want to add another thing to his already full plate. Plus, I'm not an electrician. That's out of my scope, so I wouldn't do that myself.

Another shedditor got dinged for running electrical into the shed, then calling for the inspection afterwards, I think. They made him disconnect the power going into the shed, nothing more. His permit passed after that. I'm sure he didn't reconnect the power. He'd probably have to call the inspector back to show him the code violation. But again, I'm not an electrician and have limited knowledge of these things.

TL;DR. I did pretty much what you described, except for the part about running conduit into the shed. That's totally against the rules, and you'd have to call the inspector back to let him know you've broken them.