All posts tagged: GST and tourism industry

GST and travel Industry

How GST is going to impact your travel plans ?

India is always growing in the travel and tourism area. Foreign travelers are very much delighted to be in India for it’s cultural diversity. Now the Indian economy underwent a radical change in their tax system by the implementation of GST ( Goods and Services Tax ) through a Constitutional amendment bill in the parliament. The GST is going to impact almost all areas of an Indian. I am writing this article to make you aware of how the GST is going to impact the travel and tourism industry in India. What is GST in a nutshell ? Goods & Services Tax is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition. Earlier, Goods and services were taxed separately. The states tax only for the sale of goods but not services while the central government taxes manufacturing and services but not wholesale/retail trade. However, now under the GST one rate shall be applicable to both goods and services. One nation one tax GST has 4 tier structure: 5% – common use items, …