{"id":4037,"date":"2020-02-21T17:21:06","date_gmt":"2020-02-21T11:51:06","guid":{"rendered":"https:\/\/www.instaspaces.in\/blog\/?p=4037"},"modified":"2020-02-21T17:21:07","modified_gmt":"2020-02-21T11:51:07","slug":"positive-negative-impact-gst-startups-india","status":"publish","type":"post","link":"https:\/\/www.instaspaces.in\/blog\/positive-negative-impact-gst-startups-india\/","title":{"rendered":"Positive and Negative Impact of GST on Startups in India"},"content":{"rendered":"\n

On 1st July 2017, India marched into a completely new tax regime, better known as \u201cone nation, one tax\u201d, by adopting a new system of revenue collection called the Goods and Services Tax or GST. This single platform inculcates within itself, a plethora of taxes earlier levied by the center and the states. The taxpayers are now required to pay only one combined tax under this new scheme.<\/p>\n\n\n\n

Well, now the focus has greatly shifted to the tax on consumption from the earlier tax being charged on production.\u00a0<\/p>\n\n\n\n

\"What
Impact of GST on E-commerce or Startups in India<\/figcaption><\/figure><\/div>\n\n\n\n

As per the notification issued on April 17, 2015, an entity will be considered a start-up only till up to five years from its date of incorporation and having its turnover not exceed 25 crores of rupees in the last five financial years.\u00a0<\/p>\n\n\n\n

Start-ups are supposed to work towards the development, innovation, and commercialization of new products and services which are fuelled by intellectual property, and technology.\u00a0<\/p>\n\n\n\n

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Table of Contents<\/p>\n