Beginning a new startup is never an easy process, especially for those who are not incredibly financially strong. Since money is something that many new startups owners struggle with, having the option to reduce spending wherever it is possible is welcomed. When one has to pick out a new location for their startup, having to spend money for a concrete office building may be difficult for many people.
In this article, we will be discussing the growth factors of start-ups and how the business can spread with GST address. Moreover, we have explained how virtual addresses can benefit startups to grow their business and get maximum profits at minimum expenses.
What is a Virtual Address
Normally, a person would have to pay a lot of money to rent a virtual office space. They would then apply for GST registration using the address of that place. Instead of doing this and wasting so much money, a person can use a virtual address instead. Since it is a virtual address, they will not have to pay money for renting an office space.
They can use this virtual address to register their startup under the GST scheme and save a lot of money by doing so. Mail delivery services and receptionists will also be provided by the company that is selling the virtual address to take care of these services on behalf of the startup.
Under the GST scheme in our country, a business or company’s principal place of business will be registered so that the business will be taxed accordingly depending on the location. The principal place of business is the primary place where the taxpayer’s business is performed. An additional place of business is one where the taxpayer carries out other business-related activities within their state.
Virtual Office Address for GST Registration
Having a virtual office address will mean that a person will be able to register GST for that location. The company that sells the virtual office address in India will provide the person with all the documents that they need for the GST registration including the No Objection Certificate(NOC) and the electricity bill.
Benefits of GST Address
These are some of the benefits of a startup registering their business under the GST scheme using a virtual address:
- The startup will have to pay much fewer taxes to the government now
- Since the entire application process is online, no unnecessary running around is required to get the registration
- Since many states had different kinds of VAT laws, many startups found it difficult and confusing to follow the specific regulations for each state. Since GST has done away with all of those laws, they do not have to worry anymore
- An excellent virtual address of a well-known location registered under the GST scheme will have a professional look to it that will definitely impress clients and make them want to work with the start-up. The startups will not have to pay the normal price they would for renting the location and still get great clients!
- Since most of the state and central taxes have been subsumed under GST, startups will just have to pay one tax to the government(a lot less complication)
- Since the cascading of taxes has been removed, startups can now save much more money which they can invest in their business
- A facility has now been introduced for startups to avail input tax credit which will definitely be of great help to them
- Even if the startup has operations in more than one state, they can register for GST in all of those just using the virtual address. This can help their business grow and spread exponentially.
Role of InstaSpaces
InstaSpaces has an incredibly experienced team of members which is dedicated to ensuring that our clients are all happy. We will do our very best to ensure that you have the best virtual office address that you could want. There is an incredible selection of locations from which you can pick one out for your start-up.
We offer virtual addresses across India in all 28 states so you need not worry about where you are from; we will help you make your dreams come true no matter what. We will also help you get your startup registered under the GST scheme for the virtual address of your selection. You need not worry about any of the documentation required as we will provide you with everything that you require.
If you need to arrange any meetings with your clients, we will help you get meeting rooms for the same. A receptionist can also be hired so that your clients’ queries may be resolved. This will also make an excellent impression on them because this adds to the professionalism of your startup. We are deeply excited to begin this journey with you and hope that you feel the same way.
Happy Office Hunting