GST Insight – Vikas Chadha, ‎Executive Director and CFO at Berggruen Hotel Reviewed by Momizat on . Being a mid-segment market player we believe that GST will ensure ease of processes going forward and do away with multiple tax regime. Clarity is still expecte Being a mid-segment market player we believe that GST will ensure ease of processes going forward and do away with multiple tax regime. Clarity is still expecte Rating: 0
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GST Insight – Vikas Chadha, ‎Executive Director and CFO at Berggruen Hotel

Being a mid-segment market player we believe that GST will ensure ease of processes going forward and do away with multiple tax regime. Clarity is still expected on the status of the earlier Luxury tax exemption for certain properties and we are representing to Tourism authorities for these hotels that earlier had exemptions for 10 years on Luxury tax. The new GST has not clarified the process of subsidy on Luxury tax and this need to be taken up by the government urgently and guidelines issued as this measure was a great encouragement to hotel operators to build new hotels to promote tourism.

It’s still too early to predict long term gains of GST but as of now the mid segment category will be most profitable.

GST is a gross tax and there will be input credit for cash flows to hotel companies. The rules are framed and will be subject to interpretations. Hotels have upgraded their processes and IT systems to provide the requisite reports for the returns. The invoicing processes, capturing of data including GST numbers both on the vendor and customer front has been implemented. The industry has geared up well for the initial implementation. The government is issuing timely circulars and holding seminars and conferences organised by industry bodies where tax authorities are interacting with companies for resolving their queries.

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