Covid-19 fever : Start ups face new challenges

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Work from home comes with a few challenges for startups and even corporates. One of the challenge faced by the companies is that the employees who take care of filing tax and GST returns and generating e-way bills are not able to access their office systems. The challenge is especially high for early-stage startups with limited access to financial tech applications.

The process of filing GST from consolidating bills of expenses and purchases from different teams, validating and entering on the accounting systems, calculating GST due from sales and more is complicated. A lot of people use systems like Tally ERP which can not be accessible online. In respect to invoices and other documents, there are policies that prevent people from carrying sensitive financial information out of their offices.

Bigger startups may manage in this situation but not all businesses have the means to operate from home. Companies that are not on a cloud-based software will face challenges. Some bigger companies may also not have the basic infrastructure at homes such as printers which could cause a delay in statutory compliance. A penalty of ₹50 per day is levied.

The government may have to extend deadlines as there is no other way for a lot of businesses. Many startups have set up WhatsApp groups and use other productivity tools like Slack, Asana etc. to manage the situation. The government can atleast extend due dates for 15 days so that companies get some time to find a solution as to how they can manage their workload.

Leave a Reply