Ministry of Finance Certain important issues referred by GST Council to various Committees / GoM Posted On: 22 DEC 2018 4:44PM by PIB Delhi The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them: Extending the Composition scheme to small […]
Demystifying Anti-profiteering in GST Anti-profiteering is introduced in the GST Act based on the experience gained at the time of implementation of VAT in India and all other countries where GST / VAT is rolled out. The Government across the world felt that the until and unless there is a provision in the law the […]
As per Section 171 of the CGST Act, any reduction in the tax rate or additional benefit of the input tax credit has to be passed to the recipient under Anti-Profiteering.
GST is also applicable to restaurant bills. Under GST the rate of GST on restaurants is 12% in case of non-air conditioned restaurants and in case of air-conditioned restaurants, the rate is 18%. The tax rate is a bit lesser compared to the erstwhile tax regime where VAT was charged at 14.5% and 6% as Service […]