Tour Operator have to choose 5% without ITC or 18% with ITC ?? ya every transaction k lie he can choose ?
2 Replies
Money Money
(413 Points)
Replied 16 December 2023
According to the GST law, a tour operator is a person who provides services related to planning, scheduling, organizing, arranging tours, or packages of tours, which may include transportation, accommodation, sightseeing, or other similar services1.
A tour operator can opt for either of the following GST rates for his services2:
5% without input tax credit (ITC) on the value of supply
18% with full ITC on the value of supply
The tour operator has to choose one of these rates for a financial year and cannot change it for every transaction. He has to inform the GST authorities about his choice of rate before the due date of filing the first return for that financial year2.
A tour operator can opt for either of the following GST rates for his services2:
5% without input tax credit (ITC) on the value of supply
18% with full ITC on the value of supply
The tour operator has to choose one of these rates for a financial year and cannot change it for every transaction. He has to inform the GST authorities about his choice of rate before the due date of filing the first return for that financial year2.
CA. Bhavik P. Chudasama
(Practice)
(4826 Points)
Replied 16 December 2023
Ok Great clears my Confusion , Thank you for quick reply
Recent Topics
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
Related Threads
CAclubindia
