How Will GST Affect Security and Facility Management in India? Seeking Insights and Guidance

Dear Respected Members,

With the implementation of the Goods and Services Tax (GST) set to take effect from the 1st of July 2017, I seek your assistance in understanding how this will impact the Security and Facility Management Industry. I would like to know the process for filing GST returns and any particularities related to this industry.

Additionally, I am interested in learning about the standard billing format under GST. Any notifications or relevant documents would be greatly appreciated if they can be shared.

Thank you for your assistance.

Location: Vadodara, India

Understanding GST Impact on Security Services and Facility Management Industry in India

With the implementation of GST in India from 1st July 2017, it is crucial for businesses in the Security and Facility Management Industry to understand how this tax reform will affect their operations. Here is a practical guide on how GST will be applied to these sectors and the process of filing GST returns:

1. GST Application to Security and Facility Management Services
- Security services and facility management fall under the services category in GST.
- The applicable GST rate for these services is 18%.
- Input Tax Credit (ITC) can be claimed on goods and services used for providing security and facility management services.

2. Process of Filing GST Returns for Security and Facility Management Businesses
- Security and facility management service providers need to register under GST if their annual turnover exceeds the threshold limit.
- Monthly, quarterly, and annual GST returns need to be filed based on the turnover of the business.
- Invoices need to be uploaded on the GST portal for compliance.

3. Standard Billing Format in GST for Security and Facility Management Services
- The standard billing format under GST includes details such as:
- Name, address, and GSTIN of the supplier and recipient
- Invoice number and date
- Description of services provided
- Total amount charged along with applicable GST
- Place of supply
- HSN code for services

4. Notifications and Updates
- Stay updated with notifications and circulars issued by the GST authorities for any changes or clarifications related to security services and facility management under GST.

By following these guidelines and staying compliant with GST regulations, security and facility management businesses in Vadodara, India, can smoothly navigate the transition to the new tax regime. For specific queries or detailed assistance, consulting with a tax professional is recommended.