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 from 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 whole India has only one tax GST which further divided in three sub category.

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

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

GST registration:

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

1. GSTIN 
2. Service Accounting Code

For service apartment industry mostly SAC will be below two :

• ACCOMODATION IN HOTELS/ INN/ GUEST HOUSE/ CLUB OR CAMP SITE ETC. SERVICE — 00441070
• TRAVEL AGENTS (OTHER THAN AIR/RAIL TRAVEL AGENTS) — 00440294

try to add one of the two vendor code in 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 invoice should contain Company name address and GSTIN numbers. Also opposite side should have details of your company which should contain invoice number, your SAC number. Make sure invoice number should not contain any special character.
   

2. Next line should have guest 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. Invoice should have Amount in words to reduce any confusion on printing.

3. Footer should contain all company level information :

Still there are lot of confusions regarding invoice pattern 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 query on 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.