Recent Changes in GST based on 47th GST Council Meeting – GST Rates
All the changes are effective from July 18, 2022. The transition period needs where invoice raised before the change in rate of tax but payment made after change in rate of tax and such other similar situations need to be handled carefully.
1. Summary of Major Change in Tax Rates in case of Goods and Services
2. Changes in case of Accommodation Services
- Hotel Accommodation upto Rs 1,000 per day was exempt from GST. This service will be liable to tax at the rate of 12%. Accordingly, Hotel Rooms will be subject to following taxes