Tag GST
GST On Cancellation of Confirmed Train, Hotel And Flight Bookings: Details Here
The Ministry of Finance has imposed a GST on the cancellation of confirmed train tickets and hotel bookings, making travel more expensive and burdening your wallet. According to a circular issued by the Finance Ministry’s Tax Research Unit (TRU) on…
Businesses With An Annual Turnover of Up To Rs 40 lakh Are GST Exempt
Businesses with an annual turnover of up to Rs 40 lakh are GST exempt. Initially, this limit was Rs 20 lakh. Additionally, those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only…
GST trouble for aviation and travel companies
Govt mulls GST relief package for aviation and hospitality sectors
The government mulls to provide a GST relief package to the worst-hit sectors like restaurants, aviation, hospitality and realty sectors that help to mitigate the impact of coronavirus outbreak. The package may consist of a six-month suspension of GST payments…
ITR, GST Filing, Aadhaar-PAN Linking Deadlines Extended to June 30: Nirmala Sitharaman
Union finance minister Nirmala Sitharaman on Tuesday said that the last date to file income tax (I-T) returns for the financial year 2018-19 (FY18-19) has been extended to June 30, 2020. The interest on delayed payment has been reduced to…
GST rate cuts on Hotels, Check the new slabs.
The GST council on Friday has slashed the rate on hotel room tariffs. The move aimed at giving a boost to the hospitality sector. Finance Minister Nirmala Sitharaman announced nil tax for those with tariffs of up to Rs 1,000…
GST Council may rationalize rates for five-star hotels
According to the report of Business Standard, The Goods and Services Tax (GST) Council might rationalise rates for five-star hotels after a recommendation by the fitment panel. “Hotels and outdoor catering are two big items where the fitment panel has…