GST and Shared Workspaces- Trends that are going to prevail

Shared workspaces and co-working spaces are fully furnished modern day workspaces equipped with all the amenities essential for you to get your business started, and are the newest trends in the market. It is an affordable option for a company to have a valid office address and at the same time not burning holes in their pockets.

A bunch of like-minded people sharing one common roof according to their preferences of a specific time, decor, amenities and basic resources like internet, etc. and paying for just that much, is an incredible feat that places like Workloft have achieved; providing for trendy incubators in Mumbai since 2016.

The need for shared workspaces

Most small companies (or bigger) want a registered office address, and an office space for rent in this age of start-ups and freelancing, and want to provide their employees an out of the box, quirky, yet work oriented office space that gives out positive vibes, and a strong motivation to return every day.

Nobody wants to go to the old little office cubicles with gloomy lighting; work now is more about comfort and letting your creativity flow! That is what a shared office space does; and Workloft provides beautiful, and fun, attractive business centre in mumbai; areas custom made to your requirements.

GST effects and trends to be observed

The recent introduction of centralized GST has brought about certain changes in the scenario of shared workspaces.  Here are a few ways compiled into a list that let you know more about how GST has actually affected coworking spaces.

  • GST returns now have to be filed at an increasing rate of 18% (from the previous slab of 15%).
  • GST is beneficial in the way that it has become easier and cheaper now, than service taxes and VAT. With the new GST structure, start-up companies can look forward to easier cross-border transactions.
  • Expenses of transportation and cost of productions are expected to decrease thereby triggering the growth of more dream start-ups.
  • If you are a registered coworking office space provider, it gets better for you. The GST will be used by the staff as the input credit whereas for an unregistered provider this input credit is not accessible, and business becomes more expensive for such a company.
  • Taxable items like membership fees, internet, and reimbursements offered to the employees definitely help a start-up with the much-needed push to get things rolling smoothly.
  • Lastly, earlier a start-up with a turnover of more than just 5 lakh had to file for GST, which has now been increased to a whopping 20 lakh. So you get to save even more with a shared office space today.

Take advantage of GST for your new business venture with Workloft

If you are looking for shared office spaces or a virtual office mumbai look no further; Workloft is your answer to all such requirements. With Workloft things get easier since you just pay for the specific number of seats that you use and the amenities that you avail. And the most fascinating thing is that you can have a temporary niche or a permanent office address! You can select your specific office hours, and leave once your work gets done. So make sure you visit Workloft website and provide your dream start-up with wings to fly by.

About Sumit Chandan

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