Revised GST rates: Over 200 goods to be cheaper from today

Adjust Comment Print

GST on restaurants was slashed from 18 per cent and 12 per cent to a flat five per cent - but, with no input tax credit benefits.

"According to the Newspaper, The committees will ensure that the benefits of input tax credit or reduced GST are passed on to the consumers by way of commensurate reduction in prices", SuMo said after his weekly janata darbar.He said the state commercial taxes department has also been asked to conduct market survey about the rates/prices of various products before and after GST implementation. As most major inputs for restaurants like grains (not packaged), vegetables, poultry and seafood are exempt from GST, the input credit advantage available for restaurants was negligible. The GST rate charged by restaurants has been cut to a uniform 5 per cent now. Under info tax credit, organizations can assert a balance on the tax paid on contributions against the assessment paid to the administration. Those restaurants in hotels charging less than Rs 7,500 room tariff will charge at 5 percent GST but will not get ITC. But, now the Council has done away with the tax credit on food items used as raw material. A few restaurant management are not persuaded that a lower assessment will compensate for the loss of info tax. 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.

In some cities, like Delhi for instance, GST at 18 percent was a boon for customers as they were paying 12.5 percent VAT and 5 percent service tax which brought the total tax liability on the bill to 18.5 percent.

Twitter Roasts Trump's Belated Response To Texas Church Shooting
We need more attention to the role of gender and gendered violence rather than falling back on narratives of mental illness alone. He says the memorial was a way to honor the victims without focusing on the shooting .


Want to just chill and order food at home instead? The revised rate will also be applicable on food delivery, whether it is made by the restaurant directly or via apps like Zomato or Swiggy.

Chewing gum, chocolates, coffee, custard powder, marble and granite, dental hygiene products, polishes and creams, sanitary ware, leather clothing, artificial fur, wigs, cookers, stoves, after-shave, deodorant, detergent and washing power, razors and blades, cutlery, storage water heater, batteries, goggles, wrist watches and mattress are among the products on which tax rate has been cut from 28 per cent to 18 per cent. They wonder if the flat 5 percent as GST will prompt restauranteurs to hike prices.

Comments