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Go & Gorge on your favourite food at your most-loved restaurant because GST on food items has been dropped to 5% from 12-18% all over India.
What Is It?
Now you won’t be worrying about GST after eating at your favorite restaurants because it has been slashed to a mighty fine digit of 5%. This is obviously applicable only on domestic food items, because all imported items will be coming up with the previous GST values.
Also read: You Can Get A Chef Curated Wok At Pocket-Friendly Rates In Mumbai
What Do We Know?
Initially, the GST was at 18% for air-con restaurants and 12% for non-aircon restaurants. But as per the decision by the GST Council in Guwahati last week, the percent has been slashed to 5%. The way restaurants will price their food after this announcement has to be noticed. Currently the rates of GST include food, rent and other items are applicable of the customer. But it puts a great deal of pressure from the customer’s point of view so the rates have been decreased.
Lets hope this helps in reviving the food business if it was ever impacted. Business for 5 star hotels remain unchanged.Mr. Jaitley, The Finance Minister, also stated that this is applicable only for smaller hotels and restaurants and not 5-star hotels or restaurants. That is, if the per night rent for a hotel room exceeds ₹7500, 18% GST will be applicable.
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There is more good news as out of the 228 items in the 28 per cent tax bracket, 178 items have been put into lower tax category of 18 per cent. So, which restaurant are you going to visit frequently? Tell us in comments below!
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