If you’re reading this, then I’m gonna leap and assume you’re probably gonna enjoy reading this article on virtual office space and GST. I hope my assumption doesn’t turn out wrong but anyways well let you know based on virtual office spaces and the history of GST laws in the country.
Before getting into the technical aspects of the topic, let’s talk some history about the entrepreneurship culture and the tax laws in the country. Economic theory and history of various businesses in your niche as well as outside of your subculture will help an entrepreneur make better business decisions.
Maybe this is what has made our age entrepreneurs very knowledgable and goal-oriented. There is nowadays a clear perspective among managers and CEO on where they see their business in the coming days. it sure is awesome seeing the no of new-age startups rise with the power of tech and world wide web.
Two thousand years ago the India and east Asian countries had almost 70% share in the world economy. But as time slipped, the grip of Asian countries on business culture also seemed to slip slowly. Now history seems to repeat itself as Indian and Asian countries are slowly picking up pace, reinventing themselves along the way.
The income tax act was passed by the in 1961 to tax the rich and benefit the poor. It somehow ended up working against the favor of the poor who are now the ones paying hefty sums in tax money. Later the government of India went on to include tax slabs for various earning groups among the public.
But the major positive was when Indian constitutional government introduced GST laws across the country. We’ll look at more into that in the forthcoming paragraphs.
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What is GST and how does it work
Goods and Services Tax is a new and improved tax law that acts as an indirect tax law for the entire country. With GST put into action on 1 st July 2017, all the other taxes in the country were subsumed under one single law.
GST prevented the confusion among taxpayers by reducing cascading of all the other tax laws. With Goods and Services Tax, you can get a better and transparent view of how your money is taxed in India.
GST subsumed all the other tax laws into single indirect tax law. Goods and Services Tax is also destination-based tax law, that is muti staged and levied on value addition.
A simple example to explain GST:- Consider a company named goodies, manufacturing atta biscuits.
Let us assume they buy atta flour from a company named atta maker. Atta maker buys wheat to crush into atta from a local farmer.
If the farmer sells a single bushel of wheat to atta maker for 500 rupees. With a GST value of 5%, he will pay the farmer an amount of 550 rupees. After obtaining the wheat, atta maker will grind it and make a dough of value 560 rupees.
This product is then passed to goodies who will but it at 560 plus GST of 10%. Goodies now use this to make biscuits and sell it a profit margin.
Finally, the consumer would buy the product at a very low rate, thanks to the new and improvised tax structure.
Advantages of GST
Goods and Services Tax has many pros that bring a lot of value to the consumers and the government of India. We have listed some of the important points down here
- Lower tax for small businesses by varying composition schemes
- Procedure for registration is simple and easy
- A better-defined approach towards e-commerce businesses
- Eliminates the cascading effect of taxes
- The unorganized sector is easily regulated through GST
With enough said about GST, let’s look at how you can take invoices of other state using virtual offices.
Can I make invoices of other states by using GST registration
You can get GST registration by using a virtual office address in that state after you get a GST registered address, you can use the unique GST number to print invoices of other states.
This can prove really helpful if you own a business that runs across multiple states across India.
How to get invoices of other states by using GST registration through Virtual Office
Step 1: Select a location
The number 1 step you need to make, is to select a state where you need a GST number to generate an invoice. To solve this query you can check through the various locations, InstaSpaces provides throughout the country.
They cater to virtual office solutions in all the 29 states of India including union territories.here are some of the locations they offer
Hyderabad
- Koti
- Banjara hills
- Punjagutta
- Begumpet
- Jubilee hills
- Ameerpet
Kolkata
- Jadavpur
- Alipore
- Bidhan Nagar
- Park street
- Salt lake
- Amtala
Goa
- Margao
- Panaji
- Vasco da Gama
- Mormugao
- Pernem
- Mapusa
Bangalore
- Marathahalli
- Whitefield
- MG Road
- Indiranagar
- HSR Layout
- Koramangala
Chennai
- Adambakkam
- Adyar
- Ambattur
- Anna Nagar
- Chrompet
- Kolathur
Mumbai
- Dadar
- Dadar east
- Andheri
- Bandra-Kurla
- Santa Cruz
- Powai
Step 2: Look into the various options they offer for their virtual office spaces
Usually, virtual office services provide three options for services
- Business registration
- Business + mailing address registration
- Business + mailing address along with GST registration
These can be used accordingly to your needs. For more explanation, you can always ask our Instabuddies on site.
Step 3: Also look at the added services offered by the providers
Most virtual office service providers have an array of extra services they offer at an additional cost. Our good team at Instaspaces offer these following services at most of their locations.
- Dedicated receptionist for hire
- Meeting/ conference rooms that can be rented
- Availability of co-working spaces with excellent wifi connection and superclass environment
These are just some of the added features. To know more, feel free to text our Instabuddies on site.
So that’s all for this article, we certainly hope you found this informative and helpful.
Happy office hunting…
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