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Jun 21, 2017
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GST plays killjoy as clubs, NGOs face higher taxes on fundraisers
Come July and goods and services tax (GST) will play party-pooper to many fundraisers or charity events organised by non-government organisations (NGOs) and non-profit clubs. There is likely to be a steep decline in events as the total landed cost of holding them would increase by at least 20%.Many clubs and NGOs that hold meetings or fundraising events would not be able to get an input credit of the food expenses unlike in current tax regime where they would get sales tax credit.Not just that, many clubs and NGOs are complaining that under GST they won’t even get input credit on GST paid on the fees paid by their members.“Fundraisers may just become an expensive affair.
Source -
http://economictimes.indiatimes.com
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