Tailoring the tax rates to match the specific needs and challenges faced by startups could go a long way in supporting their journey to success.ģ️⃣💼 For startups in their nascent stages, the recurring cost of maintaining a Chartered Accountant (CA) for GST compliance, even with zero revenue, can add unnecessary financial burden. A more flexible and progressive approach could provide the much-needed breathing space for startups to grow.Ģ️⃣📊 The flat 18% GST rate for services might not be suitable for all startups, considering their diverse nature and stages of development. Collecting taxes, including GST, before a company even cuts its first paycheck can be a significant hurdle for early-stage businesses.
Let's address some critical pain points that hinder their growth and discuss the need for positive changes:ġ️⃣📈 It's high time we rethink the taxation policies for startups.
🤔 As an entrepreneur and a firm believer in the power of startups, I can't help but express my thoughts on how we can create a more encouraging and nurturing ecosystem for these budding ventures. #Startups #Entrepreneurship #TaxReforms #MakeADifference 💡🚀 Unlocking the True Potential of Startups: Time for Positive Change! 💼💰 I completely empathize with you Brij Singh
