Details on GST For Service Apartments Industry

What is GST?

GST – Goods & Services Tax is one of the most impactful economic reforms implemented in India in the last few decades and is termed as a major social reform too. Here is a brief article on GST For Service Apartments in India.

Impact of GST on Service Apartment Industry in India:

After implementing GST from July first now the whole of India has only one tax GST which is further divided into three sub category.

• SGST – State Govt collects revenue
• IGST – Here revenue is collected by the central government for intrastate sales
• CGST – Here revenue is collected by the central government

As the service apartment industry is considered a service industry,  GST For Service Apartments companies are classified and hence we need to change the old taxation structure to the new one to adhere govt policies.

GST registration:

You need to contact your CA or tax consultant and get the below to code registered with your company profile in the GST portal:

1. GUSTIN 
2. Service Accounting Code

For the service apartment industry most SAC will be below two :

• ACCOMMODATION IN HOTELS/ INN/ GUEST HOUSES/CLUBS OR CAMPSITES ETC. SERVICE — 00441070
• TRAVEL AGENTS (OTHER THAN AIR/RAIL TRAVEL AGENTS) — 00440294

try to add one of the two vendor codes to your invoice.

Invoice Format:

We have created a demo invoice for GST for Service Apartments owners to help their invoice structure make easy.

Here are the main details of the bill design :

1. Tax invoices should contain the Company name address and GSTIN numbers. Also, the opposite side should have details of your company which should contain the invoice number, and your SAC number. Make sure the invoice number should not contain any special characters.
   

2. Next line should have guest’s name and their accommodation details. Make sure to add make details here e.g. Check in/Check out dates, Location for stay, tariff and all CGST/SGST and IGST details clearly. The invoice should have the Amount in words to reduce any confusion on printing.

3. Footer should contain all company-level information :

Still, there is a lot of confusion regarding invoice patterns and B2B changes on GST and everyone is following up somehow with govt. authorities and CA’s for clarification. Please let us know any suggestions or queries in the comment section. Add your apartment in our website and be our business partner.

This invoice is made after taking suggestions from CAs and other tax gurus, Yet we are not claiming for this to be perfectly right for your business. Please consult your CA before applying any of the format from this invoice. Article is written in good faith and we would love to know if there are any changes yet we are not responsible for any issue occurred due to this article or invoice.