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What is the impact of GST on startups and small businesses?

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Goods and Services Tax*** GST is seems to benefit all businesses in India, but small business can enjoy for the following reasons: 1.Ease of startup: VAT registration from sales tax is mandatory for any new business. read more

Impact of GST on startups and small businesses subhash jha posted a year ago shares After years of cumulative effort and cooperation of the States and the Center, GST is set to roll out from the 1st of July, 2017 and now that the finals bits are in place, we conclude that Startups and Small Businesses , in line with the ‘Make in India’ initiative, stand to really benefit from the same. read more

GST will simplify the process by integrating all taxes, making the process of paying tax simpler. 4. Respite for businesses in both sales and services: Businesses like restaurants, which fall under both sales and service taxation, have to calculate the VAT and service tax on both items separately. read more

Overall GST would have positive impact on Startups, Small and Medium size businesses, as GST implementation would make the market structured, would help in ease of doing business. However, these businesses need to start taking compliances seriously and also work on setting up infra-structure and systems. read more

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