Online GST Registration Process

GST FOR STARTUPS
Goods and services tax would be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method. This method allows GST-registered businesses to claim tax credit to the value of GST they paid on purchase of goods or services as part of their normal commercial activity. Companies have struggled to understand and comply with the multiple taxation laws of various Indian states. While expanding into smaller towns and cities is key to the success of online retailers, meeting the unique requirements of each state can be frustrating and exhausting.
GST is very good concept for Startups because of the following reasons:
1. EASY IMPLEMENTATION OF BUSINESS MODEL: Any new business needs to have a VAT registration from sales tax department. A business may have to follow unnecessary cumbersome process of registration which may be different in different States. GST will bring about a uniformity in process of registration and will only require a centralised registration that will make starting business much more simpler.

2. EXEMPTIONS TO NEW BUSINESS: Earlier, any business that dealt with goods liable to pay VAT was required to get registration under the VAT act if the turnover crossed Rs. 5 Lakhs. As per the new GST, the limit shall be Rs. 10 lakhs which is a very good thing for startups. Also, businesses with turnover between Rs 10 and 50 lakh are expected to be taxed at a lower rate. This will bring a lot of tax relief to newly established businesses.

3. SIMPLICITY IN TAX PAYMENT: Currently, a startup spends a lot of time and energy to manage the various taxes at various points. It has to deal with VAT, Excise Duty, Service Tax, Octroi, Entry Tax etc. After GST, only one unified tax rate will be applicable. This brings in a major advantage to startup businesses by simplifying the process of tax payment.
Legal Salah will help you in any manner relating to implementation of GST in Startups.