Monica Malik Instagram – Avoid paying lakhs of unnecessary GST by this hack in your wedding!
Did you know that hiring wedding services from the same or different vendors can change your GST drastically? šø
š Case 1 (Venue Catering):āØSeparate vendors: Venue at ā¹10L (18% GST) Catering at ā¹4L (5% GST) = Total ā¹2L GSTāØSingle vendor: Composite supply at 5% = ā¹70K GST.
Savings: ā¹1.3L
š Case 2 (Venue Catering Decor):āØSingle vendor (Mixed Supply): ā¹15L at 18% GST = ā¹2.7L GSTāØSeparate vendors: Venue Catering at 5% Decor at 18% = ā¹88K GST.
Savings: ā¹1.82L
Some points to take care of:Ā
1. For 2nd Case Tax authorities generally consider it as Mixed Supply but in case it consider as Composite supply go for single vendor
2. The GST on catering is 5% but if the hotel has the room rent of above 7500 then the GST rate applicable will be 7500. In this reel it is assumed that Room rent is below 7500.
3. Plan smartly and save lakhs for your big day! š
[ wedding, wedding day, shaadi, shaadi season, wedding ideas, wedding decor, wedding dress, wedding photography, marriage ]
#wedding #weddingday #shaadi #shaadiseason #weddingideas #weddingdecor #weddingdress #weddingphotography #marriage | Posted on 27/Nov/2024 13:08:36
