The capital city of Karnataka, Bangalore is known for the presence of a large number of Information Technology companies present in its vicinity, Bangalore once held 33% of IT exports from India, which is a considerable amount if you look at the statistics.
Bangalore also headquarters Infosys and Wipro, some of the most influential IT companies in India which puts a significant growth in its per capita income of the city.
But this article wasn’t written to explain the detailed statistics of the city of Bangalore. We have put together this piece to explain the easy way of registering your company under GST using virtual office space.
Virtual Office Spaces: Easiest way to grow your Business
Virtual office spaces offer your business a professional business address in a prime business location. This business address can be used as your mailing/billing address as your registered business address. The same address can also be sued for registering under the GST norms of that state. After registering under GST, you will be provided with a unique business address that is used to raise GST included invoices. This address can also be used for filing for Input tax Credit while filing for ITR.
These office spaces give an easy solution for businesses to obtain a professional business address under a budget. Even though a physical working space may not be present, virtual office providers like InstaSpaces offer alternative workspace options like
- Shared office spaces
- Co-Working spaces
all these office spaces can be availed at an additional cost, which would require you to book them according to your needs beforehand.
What is GST explain in simple terms
Goods and Services Tax in a single Indirect tax law brought into action on 1st July 2017 by the Indian Constitutional government for developmental purposes. The tax is designed to Subsume all the other tax laws into a single tax structure.
Some of the subsumed tax laws are put in bulletin points below.
- Value Added Tax (VAT)
- Service Tax
- Central excise duty
- Purchase Tax
- Customs duty
GST is a destination-based tax that relies heavily on value addition. Tax is levied with value added to the product at every level.
Goods and Services Tax is put into three primary categories as of now
this seems to be one of the best tax models avoiding cascading if taxes as well as other problems with the previous tax structures.
Virtual office space for Company/GST Registration in Bangalore
Virtual office service providers offer a lot of virtual office spaces in Bangalore. But we are here to tell you about a provider who has been long enough in the market to provide high-quality workspaces along with an assortment of added features.
InstaSpaces is one of those excellent service providers who can provide brilliant spaces in prime locations. They also make the Business/GST registration seamless by providing the necessary documents and guidance during the process.
They have Virtual office spaces in the following location to offer in Bangalore.
Once you register at one of their office spaces, you get all the necessary documentation in hand within 3-5 working days.
You can use these documents to register for GST under the norms of the state.
Here is a list of the documents offered by InstaSpaces
- proof of ownership
- utility bill
All these can be used to register under GST, as they have no mention of virtual office space in any of them. It can be very quickly used for your benefit of obtaining a GSTIN.
Do these Virtual Office Spaces have any benefit over traditional office spaces
Virtual office space is set to solve problems that cannot be tackled by owning a virtual office address in Bangalore. We have listed some of the benefits below
Save money on rent
Rent prices in Bangalore are sky-high, thanks to the immense number of startups and companies located in the city. With little help from a virtual office space, you can reduce the rent costs by many factors.
Save money on maintenance and overhead costs
Virtual Office Space has zero physical space. This translates to zero expenses on maintenance and other bills such as power and electricity.
Save time on travel
Bangalore is pretty famous for its unforeseeable but prevalent traffic problems. Virtual office spaces enable you to get an office address without needing to travel to one. It can save your time and energy spent on this tiring travel.
We hope this was helpful for you in all ways possible. If you want to learn more about the excellent services of InstaSpaces, contact them below.
But in all seriousness, if you have any more doubts or queries, feel free to text our Instabuddies on site.
Happy office hunting0 109