Hotel stocks rally up to 20% after GST Council rate cut on hotel room tariffs
5 years, 3 months ago

Hotel stocks rally up to 20% after GST Council rate cut on hotel room tariffs

Firstpost  

Scrips of hotel companies zoomed in the morning trade on Monday by up to 9 after the GST council cut tax on hotel room tariffs New Delhi: Shares of hotel companies zoomed up to 20 percent on Monday after the GST Council reduced the tax rate for hotel room tariffs. Among others, Indian Hotels Company zoomed 8.20 percent, ITC rose 6.95 percent and Hotel Leela Venture advanced 3.59 percent. Post-market hours on Friday, the GST Council reduced the tax rate on hotel room tariffs, a move aimed at giving a boost to the hospitality sector. The GST rate on hotel rooms with tariffs of up to Rs 7,500 per night has been cut to 12 percent from the existing 18 percent.

Hotel Room Tariffs Gst Gst Council Hotel Room Tariffs  tariffs  room  stocks  council  hotels  hotel  rs  tax  20  zoomed  cut  rooms  rate  rally  gst

History of this topic

Why hotel rooms in India cost a bomb, push Indians to holiday abroad
2 weeks, 4 days ago

Why hotel rooms in India cost a bomb, push Indians to holiday abroad

India Today  

In July last year, Uttarakhand-based Anand Sankar and his wife were trying to book a hotel for their vacation in Goa. SEASONAL TREND IN 5-STAR PROPERTIES, SAY HOTEL VETERANS Madan Prasad Bezbaruah, Secretary General of Hotel Association of India, says comparing starred Indian properties to those abroad just on the basis of tariffs wouldn't be fair. The general view is …

A fresh start: On the Goods and Services Tax Council meet
6 months, 1 week ago

A fresh start: On the Goods and Services Tax Council meet

The Hindu  

The Goods and Services Tax Council was convened last week for the first time in nearly nine months. Apart from several industry-specific measures, a few of which will kick in with retrospective effect, the Council also opted to waive interest and penalty on tax dues for the first three years of GST, provided they are paid by March 2025. Beyond …

53rd GST Council meeting: Co-living firms welcome proposal to exempt GST on accommodation services
6 months, 2 weeks ago

53rd GST Council meeting: Co-living firms welcome proposal to exempt GST on accommodation services

Hindustan Times  

Providing relief to students and working professionals, the GST Council has recommended exempting accommodation services having a value of supply up to ₹20,000 per person per month from goods and services tax. Providing relief to students and working professionals, the GST Council has recommended exempting accommodation services having a value of supply up to ₹ 20,000 per person per month …

GST Council to impose 28% tax on online gaming firms
1 year, 5 months ago

GST Council to impose 28% tax on online gaming firms

The Hindu  

The Goods and Services Tax Council, at its 50th meeting on July 11, reduced or clarified the tax rate on some items ranging from uncooked or unfried snack pellets to special utility vehicles, exempted imported drugs to treat cancer and rare diseases, and brought an end to a years-long debate on tax treatment of online gaming, casinos and horse racing. …

GST Council may take call on online game tax
2 years ago

GST Council may take call on online game tax

Deccan Chronicle  

NEW DELHI: The Goods and Services Tax Council, which is scheduled to meet on December 17, is likely to discuss a host of issues that have arisen following the recommendations of the GST fitment panel. “The Council may also discuss certain tax rate changes for various sectors like textile, insurance among others, but a rate cut in the tax on …

GST Rate Hike on Rice, Wheat, Milk from Today: What Gets Costlier, What Gets Cheaper
2 years, 5 months ago

GST Rate Hike on Rice, Wheat, Milk from Today: What Gets Costlier, What Gets Cheaper

News 18  

From July 18, 2022, which is Monday, a number of items including pre-packaged foods are going to see a price hike as the government has decided to put them under the ambit of Goods and Service Tax or GST. Single packages of food items like cereals, pulses and flour weighing up to 25 kg will be considered as ‘prepackaged and …

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?
2 years, 6 months ago

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?

News 18  

Towards the end of June, the GST Council chaired its 47th meet under the leadership of finance minister Nirmala Sitharaman, where a slew of decisions were taken regarding the levy of Goods and Service Tax on various items. – The GST Council also decided to bring hotel rooms under Rs 1,000 per day under the 12 per cent GST slab, …

Hospitals in a fix over GST on room rent
2 years, 6 months ago

Hospitals in a fix over GST on room rent

Live Mint  

The goods and services tax council’s decision to impose a 5% tax on hospital room rents that are over ₹5,000 a day has left hospitals in a fix over how to implement it because most offer treatment packages that already include room rent. The GST council led by Sitharaman during a two-day meeting in Chandigarh last week decided that hospital …

GST new rates explained: Full list of items, services to get costlier
2 years, 6 months ago

GST new rates explained: Full list of items, services to get costlier

India Today  

A number of items are set to attract Goods and Service Tax after the GST Council approved changes in the tax rates on some goods and services with a view to rationalising the levy. The decision was taken by the GST Council - the highest decision-making body on the levy of goods and services tax, headed by Union Finance Minister …

A Critical Approach To Madras High Court Single Bench Decision On GST On Maintenance Charges By Resident Welfare Associations
3 years ago

A Critical Approach To Madras High Court Single Bench Decision On GST On Maintenance Charges By Resident Welfare Associations

Live Law  

The recent judgement of the Madras High Court in Greenwood Owners Association v. Union of India WP 5518&1555 of 2020 dated 01.07 2021 quashing the order of the Authority for Advanced Ruling dated 21.06.2019 and holding that Goods and Service Tax is payable on maintenance amounts charged by Residential Welfare Associations in excess of Rs 7500/- seem to be changing …

GST on mobile phones increased from 12% to 18%
4 years, 9 months ago

GST on mobile phones increased from 12% to 18%

Op India  

Union Finance Minister Nirmala Sitharaman chaired Goods and Services council meeting on Saturday in New Delhi. The GST council proposed to raise the Goods and Services tax on mobile phones from 12 percent to 18 percent. FM said that “the council has decided to hike the GST on Mobile phones to 18 percent from the current 12 percent. The machine-made …

Hotel stocks rally up to 9 pc on GST rate cut
5 years, 3 months ago

Hotel stocks rally up to 9 pc on GST rate cut

India TV News  

Scrips of hotel companies zoomed in the morning trade on Monday by up to 9 after the GST council cut tax on hotel room tariffs. Indian Hotels was trading 9 per cent higher, ITC was up by 7 per cent, Royal Orchid Hotels gained 7 per cent and Hotel Leela rose 4 per cent on the BSE. Post market hours …

GST Council meet in Goa today; tax cut on hotels, catering services likely
5 years, 3 months ago

GST Council meet in Goa today; tax cut on hotels, catering services likely

India TV News  

The rising chorus for tax relief is likely to be ignored by India's federal tax council as a major GST meet is scheduled to take place in Goa on Friday. The council, at its 37th meeting in Goa, will also consider states’ demand for extending the GST cess on select products like automobiles and tobacco beyond 2022 in view of …

GST Council Meet today: Focus on revenue protection, boost for economic growth; no major tax rate cuts likely
5 years, 3 months ago

GST Council Meet today: Focus on revenue protection, boost for economic growth; no major tax rate cuts likely

Firstpost  

The GST meeting will be closely watched as it could help investors gauge the government’s seriousness in reviving growth in Asia’s third-largest economy The GST Council, headed by Union Finance Minister Nirmala Sitharaman and comprising representatives of all states and Union Territories, will have its 37th meeting in Goa today in the backdrop of economic growth hitting a six-year low …

From hotel tariffs to cars, GST Council to decide to tax rate cut tomorrow
5 years, 3 months ago

From hotel tariffs to cars, GST Council to decide to tax rate cut tomorrow

Live Mint  

Amid clamour for rate cut by various industries, the all powerful GST Council will hold a crucial meeting on Friday to decide on tax moderation, keeping in mind the revenue position and the need to boost sagging economic growth. Meanwhile, according to sources, the GST Council's Fitment Committee, which comprises revenue officials of both Centre and States, has rejected demands …

GST Council meets tomorrow to decide on tax moderation; industries seek relief amid economic slowdown
5 years, 3 months ago

GST Council meets tomorrow to decide on tax moderation; industries seek relief amid economic slowdown

Firstpost  

Amid the clamour for a rate cut by various industries, the all-powerful GST Council will hold a crucial meeting on Friday to decide on tax moderation, keeping in mind the revenue position and the need to boost sagging economic growth New Delhi: Amid the clamour for a rate cut by various industries, the all-powerful GST Council will hold a crucial …

Ahead of GST Council meet, fitment panel rejects tax rate cut for auto, biscuits; favours relief for hotel industry
5 years, 3 months ago

Ahead of GST Council meet, fitment panel rejects tax rate cut for auto, biscuits; favours relief for hotel industry

Firstpost  

New Delhi: Ahead of the crucial GST Council meeting on Friday, a committee of officials has rejected demands for a cut in tax rate on items ranging from biscuits to car owing to tight revenue position as any reduction will dent Centre and State collections. However, the Committee was of the view that the rate cut would hurt the collection …

Discover Related