Restaurant aviation as well as hospitality sector to be given six months relief in GST

New delhi date. 28 April 2020, Tuesday

The government will soon announce relief in the form of GST to provide relief to all, including the business community, which has disrupted business and employment across the country due to the lockdown in the wake of the Corona epidemic. Is.

According to government sources, in view of the lockdown phase, an exercise has been launched to provide relief in GST payments after various concessions were announced by the government earlier. The exercise will provide relief in GST payment for six months in the worst affected areas due to the epidemic. Such areas include restaurants, aviation as well as other areas including hospitality.

In addition to announcing certain concessions for the real estate sector, an exercise has also been undertaken to adopt a cash system instead of the existing invoice based system. In addition, steps will be taken to ease the liquidity pressure on the business. The main reason behind taking this step is to alleviate the cash shortage.

In the event of a lockdown, most service providers face delays in payment from the client. On the other hand, the burden of GST on them has also increased. With this in mind, reliefs are also likely to be announced in the service sector.

Citing the current precarious situation, the government was introduced by several taxpayers to temporarily put a brake on GST collection. But according to the government, if a sector is given full exemption, the credit chain will break. And a hostile atmosphere will arise.