GST Insight – Rattan Keswani, deputy MD, The Lemon Tree Hotel Company
Our hotel chain faced a few operational issues after GST was rolled out from 1st July due to last minute changes, but it was well managed by our teams. According to me, the long term gain of GST rollout is that it will bring simplicity to the entire taxation process. I do not see any major change in the short term. However, companies will gain from input tax credit.
One of the biggest challenges of GST is that it has too many slabs, plus the need for GSTN numbers in all states. If companies don’t have this, then their conferences business will get affected as they can’t claim input tax credit.
Chains are better geared to deal with compliance issues when it comes to GST rules regarding tax refund, registration, invoice debit and credit.