Goods and Services Tax also known as GST is the act that governs the tax imposed on the goods and services. It was the biggest reform in the taxation history of India. GST brought all the indirect taxes under one category. The tax on tax is eliminated under GST. It decreases the cost of goods and services. It is an act that benefits customers.
Goods And Services Act was implemented from 1st July 2017.
The entire process of filing for GST is digitized. It is technology-driven. An online portal has been launched by the Government of India to simplify the process of filing for GST. It increases the speed of the whole process.
Using the online portal all the steps like registration, return filing, application for refund and response to notice can be done very easily. The government has started many GST Suvidha Kendra to help people in filing their GST returns.
What is GST Suvidha Kendra
Filing GST returns is a new and unknown process for most of the people. They need help to understand the taxation process and also need a hand in filing the GST returns. To help the people, the Government has started GST Suvidha Kendra. These GST Suvidha Kendra help people in understanding GST. They also help in filing the returns.
GST Suvidha Kendra helps a Small or a Medium-sized Enterprise (SME), entrepreneurs, shopkeepers, individuals with turnover above INR 20 lakhs to file their GST returns. These Suvidha Kendra charge a nominal fee to file GST returns for the taxpayers. The tax professionals in India charge an exuberant fee to file returns. The GST Suvidha Kendra makes the filing of GST easy, convenient and is also pocket-friendly.
GST Suvidha Kendra is a single economic service facilitation center that helps people out from start to end promptly.
GST Suvidha Kendra Franchise USP
GST Suvidha Kendra is a help center that is approved by a GST Suvidha Provider (GSP). It provides services and consultation facilities to people. A GST Suvidha Center provides services like GSTIN registration and GST return filing.
These centers manly help people in their GST Compliance requirements. They are also available for any taxpayer’s needs. These centers are very cost-friendly.
GST Suvidha Kendras help the Indian government in simplifying the process of GST Return Filing. These centers remove the hurdles and harassment faced by individuals, small and medium-size business and traders while filing good and service tax (GST) returns.
Currently, the small businessmen are confused about GST Registration, GST Returns, EWAY bill & all other GST compliances. Most of the people cannot hire a tax consultant for his services. Due to a lack of knowledge and proper guidance, these people end up not registering for GST. The GST Suvidha Kendras help these people in understanding the taxation system. They help them obtain a GSTIN number and file GST Returns on their behalf every month.
These centers are well equipped. Many times the systems at the government offices crash due to heavy load of work. At these GST Suvidha Kendras, that problem is eliminated.
The government appoints various GST Service Providers who run these GST Suvidha Kendra.
Benefits of owning a GST Suvidha Kendra Franchise
Government Associated
The government appoints various GST Service Providers. These GST Service Providers hire people to open GST Suvidha Kendras. GST Suvidha Kendras help the government by reducing its burden. These centers are government licensed. On opening a GST Suvidha Kendra one gets associated with the government work.
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Own Corporate Brand Name
GST Suvidha Kendra allows the person to run a small business. It has the advantages of big business. Even though the Suvidha Kendras are associated with the government, these centers are the franchise owners’ personal business.
Experience
No special education qualification or business experience is required to start a GST Suvidha Kendra. One just needs to follow the guidelines set out by the government to start a GST Suvidha Kendra franchise business.
Proper support system
The GST Service Providers give proper training to all the GST Suvidha Kendra franchise holders. They also provide a proper support system and back up to the franchisee.
Authorized License
Once the training is complete the GST Suvidha Kendra franchise owner gets an authorized license to run such center.
Expert Advice
Expert help and guidance are always available to the franchisee owner. The GST Service Providers help the franchise owner to devise a strategy to increase the customer base.
Tax Filing
A GST Suvidha Kendra helps in the filing of GST Registration, GST Returns, EWAY bill & all other GST compliances. These centers also help with other taxes.
Timings
Owning a GST Suvidha Kendra is nothing like a nine to five job. GST can be filed during any time of the day. As it is an online process, there is no fixed time to file the returns. The franchise owner can conduct the business at his discretion.
Seasonal Business Men
India is a big country. Many people here have work that is just a season based. They are always looking for an alternate business in off-season months. These people can start a GST Suvidha Kendra. GST returns is filed every month. This business is there for all the seasons.
A business for everyone
GST Suvidha Kendra is a business that anyone can do. Due to the flexible hours and simplicity of the work, even homemakers can start a GST Suvidha Kendra.
What are the requirements to start a GST Suvidha Kendra Franchise in India?
Area
The minimum area required to start a GST Suvidha Kendra is 100 square feet. The Suvidha Kendra must be situated at a prime location. The Suvidha Kendra must be visible to the public. It has to be located on the ground floor for visibility and easy accessibility. The area must be big enough to accommodate a proper sitting space for the customers.
Skills or Experience
One does not need any prior business experience to start a GST Suvidha Kendra. Knowledge of GST Is required. The GST Suvidha Kendra operator must be a graduate. He must have a basic knowledge of accounting. He should also have a good knowledge of computers. He must be of friendly nature to attract more customers.
Regions of Operation
The government has appointed 29 GST Service Providers who provide license to start GST Suvidha Kendra. GST Suvidha Kendras are located all over India for the convenience of the public. The GST Service Providers are looking to open GST Suvidha Kendras in the areas where such kendras are not existing. When one applies for GST Suvidha Kendras franchise, the GST Service Providers check if there is an existing Suvidha Kendra in that area. If not, you can start your GST Suvidha Kendra.
Training
GST Service Providers give proper training to the GST Suvidha Kendra franchisee. Proper guidance and training is given. The Service Providers give full technical support. They also help in advertisement.
Staff Requirement
Manpower of 2 is required to run a GST Suvidha Kendra. These two members must be well versed with accounting and have a good knowledge of computers.
How much does a GST Suvidha Kendra Franchise cost?
Investment
The franchise fee to start a GST Suvidha Kendra is INR 20000. The franchisee also needs invest in 2 computers or laptops. He also needs to have a good internet connection. If the place is rented or on lease, the franchisee needs to pay the rent for the same.
Years of bond and profitability
The GST Service Providers signs a standard franchise contract with the franchise partner. The contract has a validity of lifetime. The approx revenue on the investment per year will be INR 4 Lakh to INR 5 lakh. The expected payback period is less than one year.
Conclusion
When the new tax in the form of GST was announced, the whole country was very confused. No one knew what to do. The professional accountants were also just familiarising themselves with the new taxation laws implemented by the government.
Goods and Services Tax was implemented on 1st July 2017 by the Government of India. This tax removed all the previous indirect taxes. The motive of the government was “One India, One Tax’.
The government also digitized the whole process of GST registration and its filing. To reduce to confusion people were facing the government set up 29 GST Service Providers. These GST service providers help in setting up of GST Suvidha Kendras. The service providers, train and provide the license to the GST Suvidha Kendras owners. These Suvidha Kendras help the people in registering for GST and filing the monthly GST returns.
They reduce the burden of the government by doing the work and helping the public. The Suvidha Kendras have bought relief to many people.
One does not need prior business experience or any special skill to start a GST Suvidha Kendra. Any Indian who is a graduate is eligible to start a GST Suvidha Kendra. The GST Service Providers give proper training to the GST Suvidha Kendra owners.
The franchise partner needs to pay a one time fee of INR 20000 to start the franchise outlet. He needs to further invest in computers, printers and internet connection. If the proposed area is taken on rent on a lease, the GST Suvidha Kendra owner needs to pay for it. The franchisee can earn approximately INR 4 lakh to INR 5 lakh per year through the Suvidha Kendra. the payback period is less than a year.
GST Suvidha Kendra is the owner’s own business. The commission fee is set by the government and needs to be complied with. It is a very profitable business. A housewife or an unemployed graduate can easily start a franchise of GST Suvidha Kendra.