Friday, December 2, 2022

Know, how much tax will have to be paid on cancellation of which ticket

Indian Railways is available throughout the year, that is, it is always available to travel from corner to corner of the country. The demand for train tickets also increases wildly during the festive season and people book tickets well in advance to get a confirmed seat. However, there are many people who have to postpone or cancel their journey due to some kind of busyness or problem, due to which they have to cancel the confirmed ticket as well. When a confirmed ticket is canceled, Indian Railways charges a cancellation fee, and now canceling a confirmed ticket will be more expensive as it attracts Goods and Services Tax (GST). Is.

According to the circular issued by the Tax Research Unit of the Ministry of Finance on August 3, now GST will be levied on the cancellation of train tickets and cancellation of hotel bookings.

The circular states that booking a train ticket is a contract in which the service provider ie the service provider offers to provide the service.

When this agreement is terminated by the passenger by canceling the ticket, the service provider is compensated for a small amount, which is charged as a cancellation fee. As per the Finance Ministry circular, since a cancellation fee is a payment made against the cancellation of a contract, it will attract GST.

Cancellation charges on railway tickets of any class will attract the same GST as tickets booked for the same class.

For example, 5% GST is levied on booking of first class and air-conditioned coach tickets, so cancellation of tickets for this class will also attract 5% GST.

Indian Railways charges a cancellation fee of Rs 240 for AC first class and AC executive class tickets for cancellation of tickets 48 hours prior to the departure of the train. During the booking of these tickets, the passenger will have to pay 5% GST. According to the new circular of the Ministry of Finance, now the passengers will have to pay GST at the same rate as the cancellation fee, in such a situation, on canceling the confirmed AC ticket, the passenger will have to pay an additional Rs 12 (Rs five per hour). 240 percent) as GST.

For cancellation of AC 2-Tier ticket on or more than 48 hours before the start of the journey, Rs 200 as a cancellation fee and Rs 180 for AC 3-Tier ticket is levied. If the ticket is less than 48 hours from the start of the journey but more than 12 hours are left, 25% of the ticket price is charged as a cancellation fee. Similarly, if a ticket is canceled less than 12 hours but more than 4 hours before the scheduled departure of the train, 50% of the ticket price is charged as a cancellation fee.

 Read More: Indian Railways Rules: Now you can travel by train without a ticket, Railways made special rules.

In such a situation, GST will also be levied at the rate of five percent on the cancellation fee on the cancellation of the ticket. But remember, there will be no GST on the cancellation of second-class sleeper tickets.

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 YouTube                  Click Here
🔥 Facebook Page                  Click Here
🔥 Instagram                  Click Here
🔥 Telegram Channel                   Click Here
🔥 Google News                  Click Here
🔥 Twitter                  Click Here
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

Shivangi Joshi: Naira of ‘Yeh Rishta Kya Kehlata Hai’ is second to none in boldness! View Photos

Yeh Rishta Kya Kehlata Hai Actress: As popular as the show 'Yeh Rishta Kya Kehlata Hai' is, equally popular are the actors acting in...

FIFA World Cup 2022: Announcement of model, will share topless photo on every goal

FIFA World Cup 2022: Brazil, the most successful team in the history of the FIFA World Cup, is showing a great game in the...

Avneet Kaur Tattoo: This 20-year-old beauty showed her private tattoos on Instagram!

Avneet Kaur's face is not visible in this photo, but a beautiful tattoo can definitely be seen on the back of the actress. If...

When Mouni Roy spreads the magic of her beauty, the fans get sleepless nights!

Mouni Roy Boldness: The beauty of TV's Naagin Mouni Roy has won the hearts of many people. Mouni Roy often flaunts her beauty...

Aadhaar Card: Now you will earn from Aadhaar card! Start this business,

Earn Money From Aadhaar Card: Aadhaar card is necessary for all the people of the country (Aadhaar Franchisee) in today's time, that is, without...

Most Popular

Subscribe

* indicates required