Low-cost hotels (₹1,001-₹7,500) 18% Standard rate for most goods and services Financial services and insurance Telecom services IT services Restaurant services (non-AC) Clothing and footwear > ₹1,000 28% Luxury items and services ...
With a new government, Malaysian hotels urge review of tourism tax With the Malaysian cabinet set for a refresh following Mahathir Mohamad's landmark election victory and return to the post of prime minister, the country's... Malaysia may soon slap GST on foreign OTAs Malaysia may soon levy...
There is no intention of the tourism industry to seek help for the reduction in the goods and service tax towards the hotel rooms to 12%, stated by the Union Tourism Minister. The minister knew from the tax imposed on several tourism products as well as services which consist of hotels bec...
while services are categorised using the SAC Code. GST rates have been set in five classes called slabs which are predicated on the HSN or SAC codes. These five slabs are: NIL, 5%, 12%, 18%, and 28%
In a report on Monday, it has been said that to promote the tourism sector, the government should simplify the hotel GST rates and must encourage the private participation because it has a huge potential to further increase the jobs and economic growth.
For companies of all sizes, exporting has several benefits. Access to a large worldwide market of potential customers is one of the main advantages of exporting. Going global and exporting your goods allows you to reach a much larger market, whereas not doing so limits the number of custom...
GST Relief to Hotels and Restaurants: Analysis of 55th GST Council's decision Vivek Jalan 01 January 2025 at 07:57 To omit the definition of declared tariff and suitably amend the definition of specified premises (from the services rate and exemption notifications) to link it with actual value...
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Non-resident taxable entities can only claim credit for imported goods. Goods given as free samples or destroyed/lost items are not eligible for credit. Standalone restaurants cannot claim credits, though it is allowed for those in hotels with higher room charges. ...