GST on Cancellation of Confirmed Train Tickets; Here's All You Need to Know

The cancellation of confirmed train tickets will now attract goods and services tax (GST) even as the finance ministry has also issued a notification regarding that. According to a notification issued by the finance ministry’s tax research unit, the cancellation charge for a first-class or AC coach ticket will now attract 5 per cent GST, which is the rate levied on the ticket. According to the notification issued on August 3, the booking of tickets is a ‘contract’, under which the service provider (IRCTC/Indian Railways) promises to provide services to the customer. “When the contract is breached by the passenger, the service provider is compensated with a small amount, collected as a cancellation charge. Since the cancellation charge is a payment, and not breach of contract, it will attract GST,” the notification said. The same principle will be applicable to the cancellation of air travel or hotel accommodation, where the cancellation charges will be taxed at the same GST rate as applicable to the principal service. The GST rate on the cancellation will also depend upon that particular class. It will be the same as that applicable while booking seats/berths for that class, the notification said. For instance, if the GST rate for first-class or AC coaches is 5 per cent and the cancellation charge for this category is Rs 240 per ticket. Here, the total cancellation cost will be Rs 252 ( Rs 240 + Rs 12 tax) for first-class/ AC compartments. However, there is no GST on other categories, including the second sleeper class. For the cancellation of a ticket, Indian Railways charges Rs 240 when the ticket is cancelled 48 hours or more before the scheduled departure of the train. If the confirmed ticket is cancelled before 48 hours to 12 hours from the scheduled departure of the train, 25 per cent of the ticket amount is charged as a cancellation fee. Recently, the 47th GST Council meeting at June-end decided to accept the group of ministers’ interim reports on the correction of duty inversion and exemption. Pre-packaged and pre-labelled retail packs, including curd, lassi and butter milk, were brought under GST, effective July 18. The Council also decided to impose a GST of 18 per cent on the fees charged by banks for the issue of cheques (loose or in book form); bring hotel rooms under Rs 1,000 per day under the 12 per cent GST slab as opposed to tax exemption category currently. Hospital room rent, excluding intensive care unit (ICU), exceeding Rs 5,000 per day per patient will also be taxed at 5 per cent, without input tax credit. The Council also decided to impose a 12 per cent GST on maps and hydrographic or similar charts of all kinds, including atlases, wall maps, topographical plans and globes. Read all the Latest Business News and Breaking News here

#GST #Cancellation #Confirmed #Train #Tickets #Heres https://www.globalcourant.com/gst-on-cancellation-of-confirmed-train-tickets-heres-all-you-need-to-know/?feed_id=17694&_unique_id=630da8b32a1be

Here's a list of govt agencies, NGOs where you can donate

Flood affectees can be seen taking belonging as provinces reel from flash floods. — AFP/File

Heavy rain pounded much of Pakistan Friday after the government declared an emergency to deal with monsoon flooding it said had affected more than 30 million people.

The National Disaster Management Authority (NDMA) said Friday that more than 900 people had been killed this year — including 34 in the last 24 hours — as a result of the monsoon rains that began in June. Officials say this year’s floods are comparable to 2010 — the worst on record — when over 2,000 people died and nearly a fifth of the country was under water. However, the federal and provincial governments have been seeking assistance from the people of Pakistan and international donors to expedite the relief operation. Here’s a list of some of the government relief accounts where you can donate:

Prime Minister’s Relief Fund Account

The Government of Pakistan has notified the establishment of a flood relief fund, the Prime Minister’s Flood Relief Fund 2022, to provide relief and rehabilitation to the affected population due to torrential rains and flash floods in many parts of the country. The fund shall accept donations/contributions both from domestic and international sources for the aforesaid purpose. The fund will be administered by the National Disaster Management Authority (NDMA) while the Auditor General of Pakistan will maintain accounts of the fund. All commercial and microfinance banks are to open the account of the fund and can receive donations/contributions in cash, through cheques, pay orders and demand drafts, at all their branches across the country.

Donate Rs10 by sending SMS on 9999

For assistance, Pakistan Telecommunication Authority has also introduced an easy setup to donate to the PM relief account. Mobile users can donate Rs10 by typing ‘fund’ in the SMS option and sending it to 9999.

Balochistan CM opens flood relief account

A fund has been created for those affected by the flood under the direction of Balochistan Chief Minister Abdul Quddus Bizenjo. Donations can be made to any branch or office of the State Bank of Pakistan and the National Bank of Pakistan.

Provincial govt opens account in Sindh Bank

Meanwhile, the Government of Sindh has also opened an account titled ‘Sindh Flood Relief Fund’ in Sindh Bank.

Here’s a list of private NGOs where you can donate for the flood affectees of all provinces:

With additional input from AFP

#Heres #list #govt #agencies #NGOs #donate https://www.globalcourant.com/heres-a-list-of-govt-agencies-ngos-where-you-can-donate/?feed_id=16224&_unique_id=63090d3a7750a