gst for startups

1. GG
SS
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Advantages for StartupsAdvantages for Startups
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Small BusinessesSmall Businesses
Prepared By,Prepared By,
Sanjay Gupta (1225116431)Sanjay Gupta (1225116431)
S. Sudhasri (1225116433)S. Sudhasri (1225116433)
MBA 1MBA 1stst
YearYear
Gitam Institute of ManagementGitam Institute of Management

2. GST OverviewGST Overview
•GST will improve Ease of starting a Business in IndiaGST will improve Ease of starting a Business in India
•Integration of Multiple taxes in GSTIntegration of Multiple taxes in GST
•GST exemption for startup & small BusinessesGST exemption for startup & small Businesses
•Respite for Businesses in Both Sales & Services.Respite for Businesses in Both Sales & Services.
•Reduction in Logistic cost & Time Across IndiaReduction in Logistic cost & Time Across India

3. GST will improve ease of starting a BusinessGST will improve ease of starting a Business
in Indiain India
A business operating in many States has to face a lot of issues
regarding the different procedures and fees in each state.
GST will bring about a uniformity in process and centralized
registration that will make starting business and expanding in
different States much simpler.

4. Integration of Multiple Taxes in GSTIntegration of Multiple Taxes in GST

5. GST exemption for Startups & Small BusinessesGST exemption for Startups & Small Businesses
VAT GST
Start from annual turnover of Rs.
5,00,000/- in some states and Rs.
10,00,000/- in few other States.
Start from annual turnover of Rs.
10,00,000/- at lower rate in all
states.

6. Respite for Businesses in both Sales & ServicesRespite for Businesses in both Sales & Services
• Businesses like restaurants and Computer, which fall under both sales and
service taxation, have to calculate the VAT and service tax on both items
separately. This makes the calculations process very complex. GST will
not distinguish between sales and services, and thus the tax calculation
will be done on total.

7. Reduction in logistics cost and time across StatesReduction in logistics cost and time across States
• Interstate movement will become cheaper and less time consuming
• The whole Indian market opens up for manufacturers as interstate supply
becomes tax-neutral
• GST can reduce logistics costs of companies producing non-bulk goods by
as much as 20 percent.