GST rates revised since midnight: Check full list here

Senior BJP leader and former finance minister Yashwant Sinha. file

Senior BJP leader and former finance minister Yashwant Sinha. file

Food prices in restaurants will be reduced from today after the GST council made a decision to cut the GST on food items from 12 per cent to 5 percent. People can also send emails to screeningcommiteebihar@gmail.com to register their complaints, he said and added that stern action would be taken against the manufacturers and dealers not passing on the benefits of reduced GST rates to the consumers.

Restaurants in featured lodgings that tax Rs at least 7,500 every day room tax will be exacted 18 percent GST yet ITC is considered them.

The all-powerful GST Council pruned the list of items in the top 28 per cent GST slab to just 50 from current 228. Rate on pasta, jute and cotton hand bags has been cut to 12 percent from 18 percent. "Six goods have come down from the 18 percent slab to 5 percent, 8 items have come down from 12 percent to 5 percent and 6 items from 5 percent to zero tax", Jaitley said.

"13 items, which were earlier under 18 percent, have been brought down to 12 percent".

Overall though, eating out had become expensive on account of 18 percent GST which impacted footfalls. "Ajay Bhushan Pandey, the CEO of Unique Identification Authority of India (UIDAI) and interim chairman of the GST Network, is heading a committee to simplify return filing procedures and several other related aspects", SuMo said.The state finance minister also said there were 2.23 lakh dealers registered under GST in Bihar and 32,864 of them come under the composite scheme.

West Ham must sort out defence - David Moyes
West Ham United boss David Moyes has reportedly set his sights on a Brighton star as his first signing for the Hammers. We would be stupid if we didn't look back.

Inspite of a 5 percent GST on restaurants, there is a niggling worry in the minds of consumers though.

Correspondingly, at non-AC restaurants, you will spare 7 rate focuses assess on your bill as the same has been cut from 12 percent to 5 percent. "If a restaurant has a signature dish which attracts clientele, it may hike its price as ITC has been taken away", said Gulati, though he does not foresee it happening soon.

Input tax credit - Many restaurant management have shown that the move may drive costs up, cordiality withdrawal of information tax credit.

The council said the restaurants did not pass on the input tax credit (ITC) to customers and so the ITC facility is being withdrawn and a uniform five per cent tax is levied on all restaurants without the distinction of AC or non-AC. So it is not going to be good news for long for customers, perhaps.

Noticias recomendadas

Nos complace brindar esta oportunidad para compartir información, experiencias y observaciones sobre lo que está en las noticias.
Algunos de los comentarios se pueden reimprimir en otras partes del sitio o en el periódico.
Gracias por tomarse el tiempo para ofrecer sus pensamientos.