Finance Ministry (TRU)
explains levy of GST on supply of services such as accommodation, homestays,
betting and gambling in casinos, horse racing, admission to cinema, printing
and legal; Reiterates that in case of accommodation services, declared / published
tariff is relevant only for determination of tax rate slab and that GST will be
payable on the actual amount charged (transaction value); As per Notification
No. 11/2017-Central Tax (Rate), GST at 28% would apply on entry to casinos as
well as on betting / gambling services provided by the casinos on transaction
value of betting i.e. total bet value, in addition to GST on any other services
such supply of food / drinks; In case of horse racing, GST would be leviable on
entire bet value i.e. total of face value of any or all bets paid to
totalizator or placed with licensed book makers, as the case may be; While room
rent from in-patients in hospital is exempt, E-commerce Operators are liable to
GST in case of accommodation services provided by person having turnover below
threshold and such persons, even though they provide services through
E-commerce Operators, are not required to take registration; As regards
printing / publication / selling of books, Ministry clarifies that supply of
books shall be treated as supply of goods as long as supplier owns the books
and has legal rights to sell those books on his own account : Finance Ministry
Circular
Subscribe to:
Post Comments (Atom)
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
When India introduced the Goods and Services Tax (GST), it created a big change in the way companies handle their taxes. Earlier, business...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
In this post, I will discuss Secretarial Standards related to Proxies under SS – 2. Right to Appoint: A Member entitled to attend and ...
-
What is a Digital Signature? Answer: A digital signature authenticates electronic documents in a similar manner a handwritten signatur...
-
Companies often give gifts to their employees to boost morale, celebrate achievements, and promote a positive work environment. Such gifts ...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
Section 150 of the Finance (No. 2) Act, 2024, specifies that taxpayers will not receive refunds for taxes paid or input tax credits (ITC) re...
-
Overview The Supreme Court of India recently ruled on the applicability of the Most Favoured Nation (MFN) clause in tax treaties involvin...
No comments:
Post a Comment