HYDERABAD: The Commercial Taxes department said on Thursday that the events to be conducted on the New Year day will be taxed under provisions of the TGST Act, 2017. “It is intimated to all the New Year event organisers that they need to be registered under the TGST/CGST Acts as Casual Taxable Persons under Section 25(1) of the TGST/CGST Acts,” a release read.
If they did register under the said Acts, they will be required to pay advance tax at 28 per cent, based on the estimated turnover before the commencement of the event,” the department said in the release.
“Any non-compliance in this regard will be viewed seriously. Apart from the GST at 28 per cent, if wilful, penalty equal to tax 100 per cent will be imposed on the violators,” the released warned.