The GST was introduced in India on July 1, 2017, as a comprehensive indirect tax to replace various indirect taxes. It is a consumption-based tax levied on the supply of goods and services. GST rates are categorized into different slabs, with 5%, 12%, 18%, and 28% being the main rates.
The decision to include hostel and PG accommodations under the 12% GST slab aimed to streamline the taxation process for rental services and bring more uniformity in the hospitality sector. Additionally, it helped in reducing the cascading effect of taxes and brought transparency to the system.
Source:- ndtvHowever, it’s important to note that tax rates and regulations are subject to change, and it is advisable to verify the current GST rates with the official government sources or consult a tax professional for the most up-to-date information.
Source:- asset yogi
In conclusion, as of my last update, hostel and PG accommodation rents were subjected to a 12% GST rate in India. Keep in mind that tax laws may have been revised since then, and it is essential to refer to the latest tax guidelines for accurate information
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