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Budget 2024: Restaurants' body seeks restoration of input tax credit, higher GST rate of 12 pc

The National Restaurant Association of India (NRAI) has called for the government to restore input tax credit to restaurants and increase the GST rate to 12% from the current 5%, ahead of the upcoming Union Budget. The association believes that balanced policies and regulations are needed to ensure a level playing field for restaurants, delivery partners, and consumers.

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Restaurants' Body Seeks Restoration of Input Tax Credit |

The National Restaurant Association of India has urged the government to restore input tax credit to restaurants while increasing the GST rate to 12 percent from the current 5 percent. They have also called for an equitable and fair e-commerce policy and policy support for the sector in the upcoming Union Budget.

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Union Budget 2024: Doctors, health experts urge Centre to raise excise duty on tobacco

Doctors, economists, and public health organizations have urged the government to raise the excise duty on all tobacco products in the Union Budget 2024–25 in order to raise additional funds.

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GST rationalisation panel: Uttar Pradesh finance minister Khanna likely to be convenor of GST rate rationalisation panel

Uttar Pradesh Finance Minister Suresh Kumar Khanna is likely to become the convenor of the 7-member GST rate rationalization panel. Bihar Finance Minister Vijay Kumar Choudhary will replace Tarkishore Prasad, and Karnataka Revenue Minister Krishna Byre Gowda will be added as a member.

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Doing away with GST on electricity? - Opinion - Business Recorder

It is already happening what was expected. People have come out against rising electricity bills. Protests may...

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GST on food items in cinema halls reduced to 5%

“The clarification that food and beverages supplied in cinema halls should be taxed at 5% is a welcome step and provides relief to the industry, avoiding prolonged disputes,” says Pratik Jain, Partner, Price Waterhouse & Co LLP.

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GST news theatres: F&B sold at cinemas to attract 5% GST, industry welcomes move

The multiplex industry has welcomed the GST Council's notification that food and drinks (F&B) sold at movies will be covered under the definition of ‘restaurant service and will be subject to a 5% GST, an issue that has been the source of disputes and litigation in recent months.

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India's GoM on online gaming, casinos, horse racing broadly agrees on 28% GST; Goa has a different view

India's group of ministers has agreed on a 28% GST on online gaming, horse racing and casinos, but could not reach a consensus on the taxability of online games. Some states suggested a 18% tax on platform fees while others suggested a 28% tax on GGR or commission on all three supplies. The GST Council is expected to take a final view on the taxation rate and taxability of the three activities on July 11.

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GST Council to weigh tax cuts on select items

A committee of officers that reviews proposals for tax rate changes, called the fitment committee, has recommended lowering the GST rates on unfried snack pellets to 5% from 18%

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Finance Ministry Starts Process for Deciding on New Convenor of GoM on GST Rate Rationalisation

The finance ministry has initiated the process of consultation with other members of the panel. "Karnataka is likely to continue as a member of the GoM. We are not proposing any convenor. It will be selected based on consultation among GoM members," one of the sources told PTI.

Finance Ministry Starts Process for Deciding on New Convenor of GoM on GST Rate Rationalisation.

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