Sources says:
➡️ Hotel and restaurant industry may soon get relief on GST
➡️ Finance Ministry is considering their demand to change current GST structure
➡️ GST on Hotels/Restaurants may be increased to 12% from 5% with ITC benefit
Source says:
➡️ Alert: At present Hotels/Restaurants attracts 5% GST without input tax credit
➡️ Finance Ministry has sent the proposal to the fitment committee of the GST council
Source says:
➡️ GST council may discuss the proposal in the next GST council meeting
➡️ The industry has been asking for input tax credit citing increased input cost
Source says:
➡️ The industry has asked the Finance Ministry to provide relief due to location-based differences
➡️ However, hotels/restaurants with room tariff above Rs 7,500 attract 18% #GST with ITC
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