IMPLICATIONS OF GOODS AND SERVICE TAX IN TOUR AND TRAVEL INDUSTRY SECTOR IN INDIA
Tourism is a significant contributor to the Indian economy, providing socioeconomic benefits and positively impacting industries like food manufacturing, services, and construction. It creates jobs, generates income and foreign exchange. The tourism and hospitality industry includes accommodations, catering, transportation, attractions, and travel agencies/tour operators. Read more
Section 16(2)(c) of the CGST Act constitutionally challenged
The Hon’ble Orissa High Court in OSL Securities Ltd. granted interim stay in favour of the Assessee in case where the Assessee challenged the constitutional validity of Section 16(2)(c) of the Central Goods and Services Tax Act, 2017. Read more
ITC is not available in relation to construction of immovable property which is further let out for commercial purpose
The Hon’ble West Bengal Appellate Authority for Advance Ruling in the case of In Re. Bathula Mahesh Babu allowed the appeal filed by the Revenue Department, thereby holding that no ITC is allowed on Input Goods or Services in relation to construction of immovable property which is further let out for commercial purposes. Read more
Activities to be undertaken for GST Compliances of FY 2023-24 in March 2024
We are fast approaching the end of the financial year 2023-24. It mandates some activities to be carried out under GST laws for a smooth transition to the Financial Year 2023-24. We have listed down certain important activities for the smooth transition/ closure of the Financial Year 2023-24: Read more
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