Tag: GST Council

Ibis Kolkata The GST Council, headed by Union Finance Minister Nirmala Sitharaman and comprising representatives of all states and Union Territories, met today in Goa. The GST Council has agreed to lower tax rates imposed on the hotel industry. The 37th meeting of the GST Council has decided to tax hotels with room tariff of Rs 7,500 and above at 18 per cent instead of the earlier 28 per cent. Hotels with tariffs in the range of Rs 1,000 to Rs 7,500 will have to pay GST at a rate of 12 per cent. Lastly, hotels with tariffs below Rs ... Read more

Web Desk The Goods and Services Tax (GST) Council, in its 24th meeting on January 18, is likely to make changes in the GST Law to facilitate the release of locked input tax credit in tourism and hotel industry. The council is meeting to hold discussions over Narendra Modi’s mission for having a digital-based economy, with a focus on incentivisation of digital payment of taxes under the GST regime. The industry bodies have been mentioning that the lack of input tax credit (ITC) under the GST has impacted the Meetings, Incentives, Conferences and Exhibitions (MICE) segment with cancellations and postponement ... Read more