Shreyaa Kapoor Instagram – If you are getting married soon – know that GST will come in play again and again! 😅
So understanding how GST works is the first step to saving money! 🙌🏼
-Service Classification: Determine if the service can be classified as a composite or a mixed supply. Composite supplies (where services are naturally bundled and supplied with each other like venue with catering) attract a single GST rate, usually the rate of the principal supply.🫡
-Venue Selection: Choosing a venue with a comprehensive package that includes catering, and possibly décor and photography, can reduce the GST rate to 5%, compared to hiring these services separately at potentially higher rates.🌟
As explained in the video – some services are better when bundles together say venue and catering while you are better off removing certain services from the bundle – say decor and photography!💯
Be mindful of the GST charges on the same to save money around your wedding!🌟
Share this with your friends getting married soon!💍
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[marriage, wedding tips, tax hacks, taxation, personal finance, finance hacks, wedding, tax tips] | Posted on 31/Aug/2024 20:00:09
