With the implementation of GST, it is important to know the provisions that will affect the hotel industry. Services provided by Hotel Industry:-1. Room accommodation services. 2. Serving of foods and liquor in restaurant and in room.
With the introduction of GST, a new provision is introduced which is not there is any of the earlier tax laws. As per the new law, in case one registered person receive any goods or services or both, which is taxable, from the unregistered person , registered person shall be required to pay tax and all the other liabilities like issue of invoice, filing return, assessment of the same shall be the responsibility of the recipient/registered person.
Goods and Service Act is in its way to be implemented recently and law maker are sure that with the implementation of GST, cost of production and prices will surely In order to ensure that the reduction in cost of production and price benefit is transferred to the ultimate consumer, specific provisions are made in the law by incorporating in Act and Rules.
Types of Audit:- 1. Audit by Tax Authorities, 2. Special Audit
ASSESSMENT IN GST Type of Assessment under GST Self Assessment Provisional Assessment Scrutiny Assessment Summary Assessment in special cases Assessment of Non Filers of return Assessment of unregistered Dealer Self Assessment When Applicable:- Every registered person shall self assess the taxes payable and furnish a return. Provisional Assessment When Applicable:- In case the taxable person […]
Transportation has very important role in civilization of human beings and the development of a country. Transportation of goods has a vital part in development of a business. Availability of raw material, packing material and plant and machinery from different part of the world and making the finished goods available to the customer in different […]
