Taxation of OIDAR svcs makes startup india tough
This issue was taken up by the circle in the past but has seen no action from startup india.
Indian startups rely on amazon google microsoft and facebook for services like hosting email advertisement etc. On one hand govt of india is saying startup entrepreneurs on other hand all services to startups are being brought under GST. No exemption.
http://www.charteredclub.com/gst-digital-oidar/
Reality is very difficult to start up and stay afloat without funds as taxes drastically increase cost of standing up a business.
May be move out of India, reduce cost by 20-30% more
Indian startups rely on amazon google microsoft and facebook for services like hosting email advertisement etc. On one hand govt of india is saying startup entrepreneurs on other hand all services to startups are being brought under GST. No exemption.
http://www.charteredclub.com/gst-digital-oidar/
Reality is very difficult to start up and stay afloat without funds as taxes drastically increase cost of standing up a business.
May be move out of India, reduce cost by 20-30% more
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Oct 31
Unless and Until revenue exceeds 20L, No GST Registration is required - thus the onus of paying GST shifts from the SME Customer to the Overseas Service Provider. Post 20L turnover, GST Credit can be availed by the Start-Up ... Overseas Service Provider cannot claim GST from Customer unless & untill it has created an Indian Entity to pay GST to Govt. If you don't have 20L Revenue, GST compliance isn't the SME's problem at all. I've been seeing specious theoretical arguments on this forum from people who're neither sufficiently aware nor impacted by the legislation - the cost of compliance overseas is at least 50 times the cost of compliance in India as long as your revenues are less than USD 1 Million. more
Aug 24
To start with India is not a place for honest business. It has been proved time & again that to be successful in India you have to connive with the corrupt system from top to bottom. If you are a law abiding person, you will be inundated in the sea of laws most of which is superfluous. On the contrary, if you grease the palms well through proper channels, you can throw away the rules in thin air and carry on to glory. This aspect is very important, as many nationalistic & successful NRIs are forced to abandon many good projects and go back abroad because they being prestigious people cannot adjust to this illegal practice. more
Aug 24
Hello, Due to High Workload, I am Currently Checking and responding to email twice a day at 12:00pm(IST) and 4:00pm(IST) If you require urgent assistance that cannot wait either 12:00pm or 4:00 pm,please contact me directly on my cell phone. Thank you for understanding this move to more efficiency and effectiveness.It helps me accomplish more to serve you better. Sincerely, Vijay Chaudhari. more
Aug 24
The Finance Department of the Govt. of India seems to be totally confused and does not realize that they are not facilitating Start-ups, but are invariably putting blocks in their growth path by imposing new laws and taxes every now and than. Once the Start-ups start moving out of the country, than the Government wakes up, but by that time major damage has already been done. Politicians and bureaucrats are not the right persons to take these decisions. They must rope-in specialist technocrats before taking out any policy or laving fresh taxes. This has been the bane of this Country since Independence. The present Government has not learnt from the mistakes of the past governments. more
Aug 24
