Applicability of GST Rate on Event Management Services in India
Event Management means planning, organizing, hosting, promoting, conducting any kind of services such as festivals, conferences, ceremonies, weddings, formal parties, concerts, conventions and marriages, from booking the venue to organizing the party. In respect to this, the service provider would charge some kind of fees.
Event Manager
Event Manager is a person who handles all the activities of
event management.
Under Section 22 to 25, there is a list of people who are
entitled to register under the GST Regime.
Applicability of Event Management Services for Registration
Under GST
Every individual person who deals either in supplying goods
or services or both would be entitled to register under GST if any of the cases
mentioned below is fulfilled:
- A person or company whose annual turnover is more than Rs 40
Lakh in a financial year of taxable supply of Goods or services.
- If any of the people resides from North Eastern areas such as Manipur, Arunachal Pradesh, Nagaland, Meghalaya, Assam, Tripura & Mizoram, Sikkim, Jammu & Kashmir, Himachal Pradesh & Uttarakhand and his/ her annual turnover is more than Rs 10 Lac in a financial year of taxable supply of goods or services.
18% GST Rate on Event Management Services
The 18 GST Rate is being levied by the Indian Government on
the Event Management Services.
Input Tax is a tax being levied on every stage of the supply
chain when you are dealing in goods & services for the business purpose.
When the individual will go for filing the taxes then he is liable to claim the
input tax credit that he paid earlier.
An event management company which has claimed input tax
credit can utilize the same while paying tax for supplies of event management
services.
Deadlines For Filing GST Return for Event Management
Services
- A person who is registered under GST would be required to
file the GSTR-1 (details of outward supplies) return before the 10th of each
month.
- The deadline for GSTR-2 return is 15th of every month while
for the GSTR-3 (monthly return) is 20 of every month.
- Compounding taxpayers will have to file the GSTR-4 for every
quarter (three months) on 18th of the following month.
- All registered persons will have to file the annual GST
return on or before the 31st December of the financial year.
Created & Posted by (Ravi)
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