https://www.taxtmi.com/news?id=38966 With effect from April 1, 2025, a premises becomes a specified premises for GST purposes if, in the preceding financial year, it supplied any unit of accommodation above the prescribed transaction-value threshold, or if the supplier files the prescribed declaration. Specified premises status determines that restaurant services supplied there attract the higher GST rate with input tax credit, whereas services outside specified premises attract the lower rate without input tax credit. An opt-in/opt-out declaration regime filed during the annual window governs ongoing applicability and may be filed per premises. en-us Fri, 28 Mar 2025 13:24:20 +0530 Fri, 28 Mar 2025 13:24:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=38966 With effect from April 1, 2025, a premises becomes a specified premises for GST purposes if, in the preceding financial year, it supplied any unit of accommodation above the prescribed transaction-value threshold, or if the supplier files the prescribed declaration. Specified premises status determines that restaurant services supplied there attract the higher GST rate with input tax credit, whereas services outside specified premises attract the lower rate without input tax credit. An opt-in/opt-out declaration regime filed during the annual window governs ongoing applicability and may be filed per premises. News - Fri, 28 Mar 2025 13:24:20 +0530 https://www.taxtmi.com/news?id=38966