GST GUIDANCE

GST ON RENTING OF IMMOVABLE PROPERTY SERVICE For every space renting out or lease it out for commercial purposes, the liability of GST (Goods and Services Tax ) arises. So, maximum in the cities or towns where commercial business are happened, part of the building or whole of the buildings are rented out or lease out to business organizations, the owner is liable to take registration of GST from the nearest Office. They have to collect the GST from the tenants or Lessee for the payment of GST to the Government Account. Other the related details of this service are given below and and for every update, clarifications from the BOARD will be updated in this page.

CBIT (Central Board of Indirect Tax) comprises of CGST (Central Goods and Services Tax) & Customs notified for extension of filing of GSTR 1 – monthly return, for the month of July, 2017 up to 5 th of September, 2017. As this will be the first GSTR 1 –Monthly return for every assessee under GST regime, the excitement over the transition to the new face and the very new module GSTR 1 makes everyone sometimes panic and on other side searching for easiest self explained guidance from either practitioners or GST Officers. Here in this note, we are trying to make an easiest way to file GSTR 1, step by step with actual screen shots.

              For every business either to promote the business or spread just looking after showing an advertisement, become a necessary part of the growth. So, the services related to Advertisement and advertising Agency Service is ever growing trade. After the advent of GST, there so many questions related to Advertising Agency Service related Services, and for every update, clarification from the BOARD will be updated in this page.

As per clause 119 of Section 2 of CGST Act, 2017. “ Works Contract “ means a contract of building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in execution of such contract.

GOODS AND SERVICES TAX (GST)  It replaces Central Excise Duty/ Additional Duties of Excise/ Excise Duty under MTPA/ CVD/ SAD/ Service Tax/ Surcharge & Cesses / VAT/ CST/ Purchase Tax/ Entertainment Tax/ Luxury Tax/ Entry Tax/ Taxes on Lottery.

Nowadays Travel Agency Service is very common and will be available in every city or even in small towns and also will be easily visible in the websites with discounts and all. Generally those who are in this business clubs together with other services like tour operator, Rent-A-Cab Service, Hotel Booking, Visa Processing Service, Foreign Exchange Service etc. So, in the following paragraphs various issues related to this Service will be dealt and will be continuously updated as soon as the Board of Central Goods and Services Tax, New Delhi updated. Definition :- Any person engaged in providing any service related to the booking of travel by air domestically or Internationally. SAC Code (Service Accounting Code) : 1.     Reservation Services for Transportation : 998551 2.     Reservation Services for accommodation, Cruises and Package tours : 998552 3.     Reservation Services for Convention Centres, Congress Centres a...

GST on Tour Operator Services :- World’s largest Democratic Nation, India joins in the league of GST (Single Taxation Regime) from 01.07.2017 and subsequently notified Tariff and non-tariff Notifications regarding various Goods and Services, erstwhile it was known to be Central Excise Tax on Manufacturing Goods and Service Tax against the services supplied or received. And Tour Operator service is considered as one of the ever widening scope of service ever since the advent of cheaper air communication and opening of luxurious hotels across the globe. So, in the following paragraphs various issues related to this Service will be dealt and will be continuously updated as soon as the Board of Central Goods and Services Tax, New Delhi updated. Definition :- "Any person engaged in the business of planning, scheduling, organizing or arranging tours or packages (which may include arrangements for accommodation, sightseeing or other similar services) by any mode of transpor...

Regarding Service Tax on Hotel Booking, let me explain you as below :- 1.      There is always a wrong concept over Service Tax on Hotels by maximum of the taxpayers. As ST liability by a Hotel Owner is different from ST liability by a Tour Operator. 2.      Tour Operator Service : - M/s. XYZ Travels is classifiable as Tour Operator but not as a Hotel Owner if you are booking hotels for customers, Hence, let's discuss about Tour Operator and liabilities in detail example. Department's ST Notification No. 26/2016 where abatement rates are given to Tour Operator Service Provider in SL. No. 11. Tour Operator Service :-  This is as per 26/2012 Notification Class Abatement Taxable a. Services by a Tour Operator  in relation to a package tour 75% 25% b. Services by a Tour Operator in relation to a tour if the tour operator is providing services soley of...

Dear Taxpayers ( of going to be implemented GST ), It is very clear from the latest updates of various meetings with Finance Minister of India, GSTN and Stakeholders including Central Government Department (mainly CBEC – formerly who controls over the exclusive tax regime of Service Tax in India along with Central Excise and Customs) and State Government stakeholders ( who initially controls over state VAT and CST along with various professional, entertainment tax etc ), about a revolutionary change in Tax Regime of India with single taxation module under one single NETWORK called GSTN is most likely to be implemented very soon in India. Prior to this all the related Rules, regulations, forms of returns etc had already been drafted; but still need to be brushed up by every taxpayers who are ultimately going to be under GSTN either previously who were under the control of CBEC, under Central Government of India or under various state governments. And so many precautions need t...