Blogs
Rate of tax for hotel accommodation – after 37th GST Council’s recommendation
Sep ‘19 The rate of tax for the accommodation services up to 30th Sep ’19 is as below: Old rate
|
Transaction value per unit per day |
GST (new rate of tax) |
|
Less than INR 1,000 (per unit) |
Nil |
|
INR 1,000 to INR 2,499 |
12 percent |
|
INR 2,500 to INR 7,499 |
18 percent |
|
INR 7,500 and more |
28... |
Professional Services- Billing Dilemma
It is common even among the older firms that the clients pay the dues in a delayed manner. At times it takes years for the fees to be paid!! The practice of billing only when payment is expected would lead to non-compliance under the GST law leading to interest and penalty. It may also lead to further delays as well as incentivise clients to delay. The other age old lump sum fee concept was probably needed 2 decades back other than form small clients. However, today with the plethora of...
Read moreService Exports from India Scheme Benefits under FTP
Overview
Service Exports from India Scheme (hereinafter referred as ‘SEIS’) has been introduced by the Government of India under the Foreign Trade Policy 2015-20 w.e.f. 01.04.2015(hereinafter referred as ‘FTP’) replacing the erstwhile 'Served From India Scheme (SFIS)’ under the FTP 2009-15. Under FTP, SEIS incentives are given to the service exporters in the form of scrips, which are transferrable and can also be used for making payment of duties.
Objective of the SEIS...
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