As the Indian government rolls out the held up GST bill, the hospitality industry buckles up for new regulations and tax reforms, making way towards a better economy.
Earlier this month, India became one of the 160 countries in the world to have implemented Goods and Service Tax bill. Effective from 1st of July, the single indirect tax will subsume almost all the current indirect taxes in India.
With a 4-tier tax structure under dual-GST model, Indian hospitality industry will incorporate a GST of 18% giving a neutral to marginally positive impact on the sector.
Just as the hospitality professionals get ready for GST, eZee Technosys, the global hospitality solutions provider has transformed it’s solutions into GST ready hotel software, including cloud PMS, on-premise PMS and restaurant POS system, apt for all types of hotels and restaurants.
‘One tax, one notion has been prevalent since a long time, and I’m sure that it will eradicate the cascading effect of taxes for good. eZee’s ready to help hoteliers take over the hospitality industry with GST compliant solutions’, comments eZee’s co-founder Vipul Kapoor.
With 18% tax rate, the GST is going to result into a reduction of 3.5-7 percent tax in states with high luxury tax and rack rate-dependent luxury tax. Whereas, in the food and beverage industry, the impact is going to be nominally positive with approximately 0.5-2.5 percent reduction in tax rates.
Always keen on walking hand in hand with advancing technology, economy and their demands, eZee hospitality solutions are ready to accommodate all the requirements of GST, right from accurate tax levying, apt tariff applications and precise reporting along with simplifying daily restaurant and hotel operations.
‘We had developed our solutions as GST-friendly for our users in Malaysia when it was employed in the country. And we plan to do the same for our Indian users, aiding them in administering their properties with contemporary GST ready hospitality software’, says Mehul Fanawala, Director of Global Sales at eZee.
‘The passing of GST bill has surely brought around a hype in the hospitality industry. Regardless of the impact being marginal, the application of GST’s norms in hotel technology is a must. And eZee’s GST compliant hotel and restaurant solutions will help a hotelier do that effortlessly by performing exact tax calculations, ensuring that the reports generated get tallied, making it easy for businesses evaluation’, says the CTO, Harshdeep Khatri.
Following an outstanding response to eZee’s GST compliant integrated hospitality solutions in Malaysia, eZee aims to equip as many hoteliers and restaurateurs with cutting edge technology.