The travel industry in Ladakh is a flourishing business and there has been a steady increase in demand for physical spaces to run business. The space that is allocated to establish a physical business setup in the union territory of Ladakh is a questionable venture due to many factors. Now the perfect solution to run a business without owning physical office space is virtual office spaces and who better to approach than InstaSpaces for your requirements of virtual office space.
InstaSpaces have a gratifying experience in providing virtual office spaces in India and especially in Union territories that make them top-notch in the game. There are a lot of doubts that arise when it comes to setting up a business in a place like Ladakh and we are here to solve the same for you.
Virtual Office Spaces: A seemingly booming business concept
Virtual office spaces are business space ventures that provide all the features that go behind in running an actual physical office without actually owning one. The prime features of virtual office space include;
- An office space where you can run business with an actual physical address in prime locations in and around Ladakh.
- The office space that will be equipped with all the amenities of an office and you can use them all by paying a minimal amount that is far less than paying for maintaining an actual physical office space.
- The office address will come along with a GST registration to help you benefit from transactions and tax credit between your clients.
These features will definitely give you a head start in your profit margins and can also help you in benefitting the extension plans of your business with minimal investment. There are also other such benefits that come along with a virtual office that won’t erode the actual capital that you invested in running the physical business.
How can Travel Agents avail GST Input tax credit in Ladakh
When you are starting with virtual office space in Ladakh, it is crucial to get a GST registration to get started with the business. To get started with availing Input tax credit under GST, the first thing to do is get your business registered under GST using a GST registration. For that, you would have to provide our team with the following documents. A No-Objection Certificate (NOC). The rental agreement for the defined period of existence. A utility bill that is more recent.
Now that you are set up with a GST registration, you are eligible for the input tax credit. This means that yes if you are a travel agent in Ladakh you can avail input tax credit under GST if you avail a virtual office space under GST registration. before you go on availing the input tax credit, there is a certain number of criteria that you need to fulfill to complete the process.
- You must have a tax invoice of purchase or debit note issued by a registered dealer that will help you to confirm the credibility of the transaction
- You must have received the services or goods that are provided by the registered dealer.
- The tax charged on the services must be deposited/paid to the government.
- A supplier must have filed the GST returns
If you fulfill the above conditions then you are eligible to avail of a GST input tax credit in Ladakh while availing a virtual office space under GST registration.
There are some key points that you must remember while you avail Input tax credit under GST;
- It is not applicable to personal use.
- The input tax credit is allowed only after the returns are filed for the financial year
- It cannot be availed on purchases invoices that are more than a year old.
Why taking virtual office space for GST registration in Ladakh
The economy of India is a vast space and is definitely a booming space for establishing a new business or run extension plans, especially in union territories. Ladakh is a land that attracts a lot of traffic with its tourism scope and that gives travel agents and travel businesses a great opportunity to develop and expand the business.
Ladakh is also an immense space for trade opportunities making it a potential area to start new ventures, but with virtual office spaces, the development can be even more profitable and less-investment consuming. The travel and tourism commerce have ample market to extend operations in Ladakh giving more opportunities to partner with InstaSpaces.
When there is a huge booming economy the commercial space to set up actual offices becomes increasingly demanding especially in union territories. The problem arises when there is no space to establish business and that’s where virtual office spaces step in to solve the issues and who better to do it than us, InstaSpaces.
Virtual office spaces in a union territory like Ladakh can be a great solution to the increase in demand for office spaces for GST registration and with InstaSpaces we make the process a smooth and hassle-free one.
Process of taking virtual office space in Ladakh
Now if you looking to come onboard with InstaSpaces in Ladakh to set up a virtual office space, the process is pretty simple.
You need to first register with us and tell us your requirement, select from our options from where you can set up your virtual office space, Customise all the requirements that you would need in the office starting from chairs to desks, projectors boards and many more that are all available on request. Once we are done with the Onboarding process, we will take care of the rest!
We hope this article gave you insight, on how a virtual office can help you acquire virtual office space in Ladakh. Contact our Instabuddies on-site to help you with more of the details and process if you still have doubts!
To learn more about InstaSpaces, feel free to contact us at the points below.
If you have any more doubts or queries, feel free to text our Instabuddies on site.
Happy office hunting!