Nil rate of GST on sale of Services by way of sponsorship of sporting events organised by Association of Inter-University Sports Board
Is my Services by way of sponsorship of sporting events organised by Association of Inter-University Sports Board exempt from paying GST? No GST applicable for Services by way of sponsorship of sporting events organised by Association of Inter-University Sports Board? Should I need to pay GST on services by way of sponsorship of sporting events organised by Association of Inter-University Sports Board?
As per GST Law 2017, there is no GST payable on Services by way of sponsorship of sporting events organised by Association of Inter-University Sports Board.
So the rate of GST payable on Services by way of sponsorship of sporting events organised by Association of Inter-University Sports Board is nil rate.
Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. 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 by Association of Inter-University Sports Board is only for information.
The validity of above information and amendments about GST rate on Services by way of sponsorship of sporting events organised by Association of Inter-University Sports Board may be verified before any business dealing.
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