With the Goods and Services Tax (GST) which is thus ready in order to roll out on July 1, industries which thus are across the country are thus reassembling their processes in order to create the desired impact of GST. With the confusion and more work at their end, they thus once again have start-ups to their rescue.
Be it the entrepreneurs that are thus already in the taxation field or the newcomers who are welcoming the bill, start-ups are thus going all out in order to help in the smooth transition.
The purpose of this article is to make the reader aware of the 4 ways start ups are hopping down the GST bandwagon .
GST will thus turn out in order to be a tax reform of an unprecedented magnitude. It however plans for 16 taxes to be subsumed within the GST. A lot of indirect which are levied such as the Entry tax, Octroi, state VAT levies will thus go away and the states will also lose power in order to levy tax at will. A reduction in the number of taxes directly would thus translate to fewer compliances, which will however impact ease in the of doing business positively. Some of the states have however been guilty of making it difficult for thus starting a new business without it attracting an aggressive form of state levies. This will go however awa.
The ways through which these startups are hopping on the GST bandwagon are :-
# 1 Technology will thus help in order to push GST
With the technology which is shaping up the way the startups function, it’s however also going to give GST a boost, allowing the entrepreneurs in order to lead the way with the latest in the tech world.
Technology will however be considered as a cornerstone for the success of GST. In general, the returns which are however electronic and the registration, which is thus fully online and reduction in the physical form submission augur well for the businesses in India.
# 2 Timely Launch Of the Products
Keeping in mind that the roll out of GST is however from July 1, entrepreneurs are thus quickly turning around their business schedules in order to launch the products that are however aligned with GST.
Meanwhile, LegalRaasta has is build a cloud-based intelligent, automated GST software that however gives one the ability in order to interact with the vendors from within the system. It also raises and then communicates the errors immediately. It also has predictive solutions built in to the software in order to allow the positive business impact and also error-free filing.
# 3 Using the Artificial Intelligence and Machine Learning
With the Artificial Intelligence and the Machine Learning as their armour, start-ups are however marching ahead in the GST game.
# 4 Focus On the SMEs And MSMEs
While the corporate sector can however swiftly transition into the use of GST, it is thus the SMEs and MSMEs which will however need attention.
MSMEs are however usually one step behind when it thus comes to technology and the system implementations. Their organizations are thus not always structured, so it thus becomes even more important in order to maintain their invoices.
Legal Raasta , an online web portal which provides more than 100+ legal services has built however an extremely easy-to-use and an intuitive software. This will thus allow a person with the basic internet knowledge of, for example an email client, in order to use the software for their business.
However , the founders of LegalRaasta a startup which provides legal services aims at easing the difficulties related to GST by providing many services . Choosing LegalRaasta is beneficial as:
1. It has , 30+ offices in India
2. It has 10+ years experience
3. It helps to save your time
4. There is a cash back guarantee
Some of the services which it provides are :
1. Tax Filing/TDR - GST Registration , GST Return, ITR , TDS Return filing, Business income return , Bulk return filing , Revised return filing , Respond to tax notice
2. Company Formation - Pvt. Ltd., Limited Liability Partnership (LLP) , OPC registration
3. Registrations - DSC, Trademark, Patent , Copyright
It thus also provides many more services .
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