GST on Event Management Services
Meaning of Event Management Services
(i)”Event Management” means any service provided in relation to planning, promotion, organizing or presentation of any arts, entertainment, business, sports, [marriage]* or any other event and includes any consultation provided in this regard;
(ii) “Event Manager” means any person who is engaged in providing any service in relation to event management in any manner
Applicability of Registration Under GST for Event Management Services
Section 22 to 25 specifies the persons who are liable to obtain GST Registration.
Every person who is engaged in supply of goods or rendering of services or both will be liable to be registered under the GST if
- Aggregate Turnover in a financial year of taxable supply of Goods or services exceeds Rs. 20 Lac or
Aggregate Turnover in a financial year of taxable supply of goods or services exceeds Rs. 10 Lac if person is located at North Eastern area ( Manipur , Arunachal Pradesh , Nagaland , Meghalaya , Assam , Tripura & Mizoram , Sikkim , Jammu & Kashmir , Himachal
Pradesh & Uttarakhand )
GST Rate on Event Management Service
Full Input Tax Credit Allowed
Input tax is a tax imposed on the person when he receives supply of goods & services which are used for his business. Now in case of event management business utilization of Input tax credit for making GST payment is allowed for providing event management services supply.
GST Return filing for Event Management Services
- GST registration holder would have to file GSTR-1 (details of outward supplies) on the 10th of each month.
- GSTR-2 (details of inward supplies) on the 15th of each month and GSTR-3 (monthly return) on the 20th of each month.
- Compounding taxpayers would be required to file GSTR-4 every quarter, on 18th of the month next to the quarter.
- Finally, annual GST return must be filed by all GST registered entities on/before the 31st of December.
Download GST Invoice Format
Download GST Invoice Format – GST Invoice Excel
When GST become Payable for Event Management Service Provider ?
Earliest of following date shall be considered as time of supply.
- When invoice is issued
- When invoice is not issued in 30 days from date of supply of service
- Date of receipt of services in books of account of service recipient
Below is example for determining date of time of supply under GST
|Particulars||Date of completion of service||Date of Invoice||Date of receipt of payment||Date of entry in BOA of Recipient||Time of supply||Time of Supply|
|Invoice issued within the prescribed period||Jul-05||Jul-20||Aug-11||Jul-27||Jul-20|
|Invoice not issued within the prescribed period||