CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Restaurants Urge Indian Lawmakers To Ditch GST Proposals

Restaurants Urge Indian Lawmakers To Ditch GST Proposals

by Mary Swire, Tax-News.com, Hong Kong

02 November 2017


India's National Restaurants Association has urged the Government not to proceed with plans to introduce a flat rate regime for the sector.

Indian finance ministers have proposed that instead of levying an 18 percent rate on restaurants, a 12 percent rate would be applied to all taxable supplies and restaurants would be precluded from obtaining input tax credits. It is proposed that the 18 percent rate and eligibility to input tax credits would remain in place for restaurants within hotels.

The National Restaurants Association of India said the plan would encourage restaurant owners to underreport income and would result in an increase to the tax burden for compliant restaurants.

Nevertheless, it is expected that the GST Council will adopt the proposals, put forward by finance ministers from Assam, Bihar, Jammu and Kashmir, Punjab, and Chattisgarh, at its next meeting next month.

TAGS: Finance | tax | business | value added tax (VAT) | India | goods and services tax (GST) | tax credits | services

To see today's news, click here.

 
















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »