FOOD & RESTAURANT INDUSTRY GET MAJOR GST RATE CUT
There was lot of murmuring going on in general public about the heavy levy of GST on eating out. There is lot of buzz that such levy has not only make a big hole in the pocket of common man as eating out is nowadays very common because of various reasons. Such heavy rate has also motivated some scrupulous element to evade tax, some of the postings at social media has suggested that the amount has been charged on account but has never been deposited with Government. In the wake of all this the Government has taken bold steps and has completely changed the GST levy on food and restaurant services. As per the Central Government notification No. 46/2017-Central Tax (Rate) dated November 14, 2017 has made some sweeping changes in GST rates of restaurant and other services: S. No. Description of Services Rate Remark Supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any ot...