Holidays to Become Costlier From 18th July as All Hotel Rooms to be Taxed Under GST

People looking to holiday on a budget must get ready to cough up more for their hotel rooms from 18th July 2022. This is because the Goods and Services Tax (GST) Council has announced that from 18th July , even hotels that charge below Rs1,000 a day will come under the GST net. As per a press release issued by the GST council on June 29, 2022, "Hotel accommodation priced up to Rs1000/day shall be taxed at 12%." (However, the government is yet to issue a notification in this regard.) Up until now, GST exemption was available for hotel rooms up to Rs1,000 per day. 
As of now, services by a hotel, inn, guest house, club or campsite for residential or lodging purposes, having value of supply of a unit of accommodation below or equal to Rs1000 per day or equivalent has been exempt from GST. The GST Council has recommended to withdraw the said exemption and apply 12% GST rate thereon. With this rate amendment, effectively all hotels having declared tariff of Rs7500 or below will be liable to GST at the rate of 12%. That said, levy of GST on low-cost hotels will make the holidaying more expensive for common man.
How does this impact your holiday expense? Let us assume you book a hotel room for two nights costing Rs900 per night. Prior to GST council announcement, you were required to pay total amount of Rs1,800 and no GST was levied on it. However, from 18 July 2022, onwards, GST at the rate of 12% will be levied. You will be required to pay Rs1800 plus Rs 216 as GST. The total amount payable by you will be Rs2016 as hotel room charges.
As a respite, very small-scale hotels will still not be covered under GST if their annual revenues are less than taxable limit of Rs20 lakh



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Changes in Our Business Model
25th Sept 2020
Greetings from Moneylife Advisory Services
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
While these extensive and frequent changes, designed to strengthen the conduct of IAs are well-meaning, these have sharply increased compliance efforts and cost. We, being online advisors, find many of changes harder to implement, compared to advisors working in the physical space. We will have to have an army of advisors, administrative and tech staff to be compliant. If we do this, we will have to divert money to these areas and the cost of our service will double. We want to remain the least-cost service in the market to benefit more and more people. In the circumstances, we are forced to change our business model from “advisory” to “research”. This will mean the following:
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