Now everyone knows the hotel industry is the fastest growing sector in India, now implementation of GST makes other extra taxes vanishes so the prices of hotels and travel industry goes down. Many changes have come after gst because so many taxes on hotels industry like luxury tax,VAT and some other kind of taxes also.
KEY POINTS IN HOTEL INDUSTRY AFTER GST:
KEY POINTS IN HOTEL INDUSTRY AFTER GST:
- Room charges per day less than 1000 rs, there is no GST. 0%
- Room charges per day start from and in between 1000 to 2499, there is 12% GST.
- Room charges per day start from and in between 2500 to 7499, there is 18% GST.
- Room charges per day more than 7500, there is 28% GST.
Now all the hotels representatives use those billing software that can change tariff according to price range given above so that they get ease in their billing and accounting.
Positive Effects Listed Here:
- Different different tax structure for different states and filling procedures and different but with gst only single filling criteria on time.
- Similar scenarios in bills like to use many different aspects on bills like VAT,luxury tax and other taxes but now with GST no complications in this matter at all.
- People have to wait for their bills like hotel accounts department have to add other taxes also into the bills but with gst it is very easy and quick.
- Benefits for hotels like can claim their input tax credits for the inputs they add. like for cooking supplies, services and other services they provide.
Negative Effects Listed Here:
- Those have luxury services like above 7500 rs charges have GST 28% means more increase in price range.
- This high price of tax can cause less tourists in India as in comparison Japan and Singapore impose tax only 8% and 7%.
Some of the best Software products with GST:
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