Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme is exempted from paying GST
Is GST payable on Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme? GST on Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme is nil rate? Should I need to pay GST on Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme?
As per GST Law 2017, there is no GST payable on Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme.
So the rate of GST payable on Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme is nil rate.
The GST Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods. According to GST slabs, the most essential goods and services fall under the exempt list while Commonly used Goods and Services have been put in the lowest tax bracket of 5 per cent. Standard Goods and Services are in 12 per cent tax bracket, the government has kept a large number of items under 18% tax slab. only Special category of Goods and Services including luxury goods fall in the top tax bracket of 28 per cent. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.
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The above details about GST rate tariff on Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme is only for information.
The validity of above information and amendments about GST rate on Services by way of sponsorship of sporting events organised under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme may be verified before any business dealing.
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