Clubs, members separate entities; transactions between the two taxable
Subhash Narayan (IANS)
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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 payment or o
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Ranchi: Citizens staying home for large part of 2020 will bid farewell to the year from home as most leading hotels and clubs in the capital have decided not to host any year-end events on New Year’s Eve (NYE) in the wake of the Covid-19 pandemic. While the state’s cumulative daily caseload has been on a downward trend since last couple of months, the situation in Ranchi remains grim with double-digit new cases on a daily basis.
Most party spots have chosen to end the year on quiet note. Radisson Blu, a five-star hotel near Kadru, will only lay out a special dinner buffet for couple and families looking to dine out on NYE. Speaking to TOI, general manager Shantanu Guha Roy said, “Unlike in the past, we have decided to completely do away with the New Year bash. Although, almost all businesses have been now allowed to reopen, we do not want to take chances with the health of the people. The special dinner buffet is for those who wish to have a family time in solitude to end the