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Hotels, cafés, restaurants, and organisations prepares to host an array of vibrant and thrilling parties which started on Sunday evening and will continue till Monday morning. Several bars and clubs in the state capital have plans to celebrate the advent of 2023 with grand and lavish ....
A social recreational club operates and functions on the underlying philosophy of pooling of common resources towards a common objective of social recreation. ....
Clubs, members separate entities; transactions between the two taxable Subhash Narayan (IANS) 2 Members of clubs, including sporting bodies and professional institutions will now have to fully comply with tax regulations and pay GST for any goods and service they receive from facilities to which they themselves are members or constituents.
The Finance Ministry has introduced amendments in the Central GST Act through the Finance Bill, 2021 proposing levy of tax on activities or transactions involving supply of goods or services by any person, other than an individual, to its members or constituents or vice-versa, for cash, deferred payment or other valuable consideration. ....
(MENAFN - IANS) y Subhash Narayan New Delhi, Feb 15 (IANS) Members of clubs, including sporting bodies and professional institutions will now have to fully comply with tax regulations and pay GST for any goods and service they receive from facilities to which they themselves are members or constituents. The Finance Ministry has introduced amendments in the Central GST Act through the Finance Bill, 2021 proposing levy of tax on activities or transactions involving supply of goods or services by any person, other than an individual, to its members or constituents or vice-versa, for cash, deferred payment or other valuable consideration. So, members of clubs and other bodies were enjoying tax free services and goods so far. ....
Retrospective tax rocks social clubs Move to treat the permanent member and the club as two separate persons cleaves the doctrine of mutuality argument The Narendra Modi- government simply isn’t able to shake off the captivation of a retrospective tax to undermine the effects of an adverse ruling by the Supreme Court and this time the brunt of the change will fall on the stately, colonial-era social clubs in the country. In a significant amendment to the Central Goods and Services Tax (CGST) Act, the government has introduced a new clause in sub-section 1 of Section 7 which is being inserted with retrospective effect from July 2017 which makes it mandatory for entities to “ensure levy of tax on activities or transactions involving supply of goods or services by any person, other than an individual, to its members or constituents or vice versa, for cash, deferred ....