Gst implications on this particular segment

Question

Accepted Answer

GST has significant implications on this segment.

GST affects the pricing of goods and services in this segment.
It impacts the tax liability of businesses operating in this segment.
Input tax credit can be claimed on GST paid on purchases made for this segment.
GST compliance and filing of returns is mandatory for businesses in this segment.
GST rates for different products and services in this segment vary.
For example, GST on hotel room tariffs is 12% for rooms with tariffs between Rs. 1,000 and Rs. 7,500, and 18% for rooms with tariffs above Rs. 7,500.
Another example is that GST on healthcare services is exempt for certain services, while others are taxed at 5% or 12%.

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