Did you know, in 2009 a Small Business filed for bankruptcy every eight minutes?
Did you even know that according to 2009 statistics a total of 5,43,000 businesses start every single year??
That’s pretty surprising, considering the number of new businesses and startups that spring up every single day. It sure does make us wonder, how many of them failed in 2019.
We may not claim to know the reasons why all of these businesses have failed over the years. But the most aspect being, the lack of professionalism among small businesses and organizations.
At InstaSpaces, we celebrate professionalism to strive our best to educate all budding and current businessmen about the fact. This blog was put together to chain the most professional ways, to get office spaces and other related services in India. This particular article is meant to educate people on the most professional ways to get a GST address in India for 2019 and 2020.
If you Wanna learn more, do scroll along…
What is GST and why is it important
The Infamous Goods and Services Tax (GST) was implemented by the Government of India on 1st July 2017. GST was brought into effect by the Indian Democratic Government to subsume all the other tax laws under a Single Indirect Tax law for the whole country. We have mentioned some of the taxes that were subsumed, in bulletin points below
- Central Excise duty
- Service Tax
- Customs tax
- State VAT
GST is a multi-level destination-based tax. Here the tax is levied upon value addition on every single stage.
Virtual Office Spaces: Professional Business and GST address locations
Virtual office spaces are literally what their name sounds like. Best offers for your organization a professional business address in a prime business location while offering you the ability to register under the GST norms of that state.
Virtual office spaces offer zero workspace area to conduct your business affairs, thereby suiting its name as one. However, a virtual office opted by the right kind of business model can be very beneficial for you.
Virtual Office service providers like InstaSpaces offer these workspaces in three simple options
- Company registration
- GST registration
- Company/GST registrations
How is GST registration different from Company registration
With GST registration, you can use the virtual office address location to get a GSTIN. You can then use this address to print invoices on the GST laws of that state. With a GSTIN address, you can also apply for Income Tax returns while filing for returns.
By opting for Company registration, you can use the virtual office address location as a professional business address. This address can be used to register under MCA as your principal business address. All your mails and bills can be forwarded to this address location.
But do not that company registration cannot be used for GST purposes and a GST registration cannot be used to register your company under MCA
What is the benefit of opting for Company and GST registration
Once you opt for this option, the virtual office address location can be used for GST as well as business purposes. It acts like a physical address location checking all the boxes offered to it.
You can get your GSTIN and also use this address to register under the Ministry of Corporate Affairs ( MCA ) as your primary business address.
GST registration is very important for three simple reasons
- With a GST registration, you can acquire a unique GSTIN for your business in that particular state
- You can use the unique GSTIN to print invoices on the GST laws of that state.
- With GST registration, you can get your Input Tax Credit for your Amazon Seller Business while filing for Income Tax Returns.
InstaSpaces: Professional Virtual Office service for your business
InstaSpaces is one of the leading virtual office service providers in India, with locations across all the 28 states of India. InstaSpaces also have their roots well laid in all the union territories in India, offering professional office spaces in them as well.
Apart from virtual office services, we also offer an array of additional services
- Meeting rooms
- Conference rooms
- Training rooms that range from small seaters to rooms that hold close to 100 people
- Professional receptionist services
- Mail handling and delivery at additional costs
- Dedicated phone number
If you have any doubts or queries, feel free to contact one of our InstaBuddies on site.
You can also contact us at the points mentioned below
We hope this article added some kind of value to your time.
Until next time,
Happy office Hunting…