It may be noted that GST rate on hotel accommodation depends on the amount paid per room accommodation per day. Presently from 18.7.2022 onwards, GST is 12% for a room in a hotel which would cost upto ...
Also, 5-star hotels with room tariff of ₹7500 or more can levy 5 per cent GST in restaurants located insider their premise, but only without claiming Input Tax Credit (ITC) While, the new ...
Summary: The eligibility of Input Tax Credit (ITC) on construction of immovable property under Sections 17(5)(c) and 17(5)(d) ...
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A full GST exemption on life insurance premiums could mean more expensive premiums for policyholders. Here’s why?Understand this with an example. Hypothetically ... the government gives them ITC for GST paid on these two. Hence, the life insurer’s final GST liability will come down to just Rs 9 (Rs ...
The government’s Viksit Bharat vision is reflected in the Union Budget with a persistent focus on ‘Make in India’, export ...
ITC is like a refund on the GST you have already paid on your purchases. For example, if you have paid GST while buying raw materials, you can claim that amount back when filing your GST returns.
Budget 2025 focuses on boosting consumption by providing tax breaks to the middle class—a welcome relief for the sector and ...
India Inc anticipates simplified tax laws, reduced litigation, and progressive policies in Budget 2025, with the ...
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