Of Over 220 Items Stay Under 28% GST Slab

Sushil Kumar Modi

Effectively, it will be a universal composition scheme in the restaurant sector, said Finance Minister Arun Jaitley during a press meet after the Council meet today. "Hopefully, this is the start to the changes which are eagerly anticipated from the 23rd GST Council meeting". Apart from slashing taxes on mass consumption items like shampoo, chocolates, etc. from 28 per cent to 18 per cent, the council fixed a flat rate of 5 per cent for the restaurants that do not claim Input Tax Credit across air conditioned and non-air conditioned facilities.

New DelhiWith the Goods and Services Tax (GST) slashed for over 200 items, the decision that has foodies in Delhi elated is the reduced rates for AC restaurants, which could make eating out cheaper.

"Expect a shower of changes in GST rates from GST Council meeting today", the senior Congress leader said. Currently, GST is levied at 12 per cent on non-AC restaurants, while it is 18 per cent for air-conditioned ones. As expected earlier, the all-powerful council agreed to slash GST rates on restaurant bills from 18 per cent to 5 per cent. The panel also recommended lowering tax rates for the manufacturers and restaurants under the composition scheme as manufacturers presently paying GST at 2 percent, the rate for restaurants is 5 percent. At present, while manufacturers pay GST at 2 per cent, the rate for restaurants is 5 per cent. Traders now pay 1 per cent.

This is being considered as one of the biggest tax reductions since the new system kicked-in from July 1.

The Congress on Friday lashed out at Prime Minister Narendra Modi stating that the entire Goods and Services Tax (GST) architecture and design was "defective". Rate has been cut to 18% from the highest slab of 28% on items such as chewing gums, detergents, chocolates, marble, granites, shaving and after-shave items, deodorants, and many more.

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