4 Benefits For Startups To Avail When GST Is Implemented

4 Benefits For Startups To Avail When GST Is Implemented

We have been surrounded with a buzz on GST and its impact on various industries. Most of the discussions are happening around how GST will impact the way India does business, how various industries are going to benefit from the shift in tax regime and how this will optimise the GDP of India.Large enterprises are preparing to accommodate their systems with GST. The government is also moving forward swiftly to meet its April 2017 deadline.Most of the compliance procedures will be done through online mode only. These include taxpayer registration, return submission, tax payment and refund claims.However, under the GST law, all of these refunds will be processed online and thus timely refund can be expected. Hence, it’ll boost the liquidity of small and medium businesses and startups.

Analysts are of the opinion that if GST is implemented correctly, India will gain a higher position in the ease of doing business index maintained by the World Bank and will boost foreign investments in India and into the startup ecosystem.

Note: The views and opinions expressed are solely those of the author and does not necessarily reflect the views held by Inc42, its creators or employees. Inc42 is not responsible for the accuracy of any of the information supplied by guest bloggers.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.