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24-06-2024 03:59 PM | Source: PR Agency

Reaction on GST Council exempts services related to hostel accommodation outside educational institutions, up to Rs 20,000 per person per month by Bharath Bhaskar, Co-founder Settl. a Coliving operator by Sunny Garg, Co-founder, Crib

News By Tags | #Economy #GSTCouncil #Crib #SunnyGarg

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Below the Reaction on GST Council exempts services related to hostel accommodation outside educational institutions, up to Rs 20,000 per person per month by Bharath Bhaskar, Co-founder Settl. a Coliving operator by Sunny Garg, Co-founder, Crib

The GST council's recommendation to exempt GST on accommodation services charging up to Rs. 20,000 per month per person is a welcome move. This will benefit a large number of co-living companies, especially those in student housing segment, where monthly charges typically fall below this threshold across the country. Additionally, the eligibility condition requiring that the accommodation service be supplied for a minimum continuous period of 90 days can be easily met in the case of student co-living arrangements and hostels, which usually have longer lease or stay durations.

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Reaction on GST Council exempts services related to hostel accommodation outside educational institutions, up to Rs 20,000 per person per month by Bharath Bhaskar, Co-founder Settl. a Coliving operator by Sunny Garg, Co-founder, Crib

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