Goods & Services Tax (GST) Updates

[dextermorgan]

^ thats what. all the headlines are screaming eating out is cheaper whereas in reality this is happening. prices are expected to rise in future too

 

[Sushubh]

i would personally be happy if restaurants switch to retail store style of mrp display on their menus. there would be less bill shock and the problem with service charge would completely disappear.

 

[amish]

In McDonald's bill above they have clearly jacked up price by 12.5% before applying 5% GST...... so no question of loss here.

Yep I miscalculated. Earlier they would to pay 10.83x2=21.66Rs from ITC

Now they pay only 6.76Rs GST but without ITC.

So difference of 21.66-6.76=14.9Rs would be loss to them.

So they increased price by 14.9Rs so it is equivalent to getting ITC.

 

[Sushubh]

Source


price hike is not much so end prices are likely to be lower today.

 

[ijsa]

1st item is Rs.46.70 cheaper so about 10% cheaper.... after GST...

 

[Sushubh]

GST aftershock creates widening two-speed economy in India

 

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[Sushubh]

Source

 

[Sushubh]

If Bindi, Sindoor Can Be Exempt from GST, Why Not Sanitary Napkins, Delhi HC Asks Centre - The Wire

Why are sanitary napkins not exempted from GST: Delhi High Court

 

[amish]

Source

I would not blame McDonalds here. I would have done same thing too.

ITC is indeed a big thing. Any business would want to avail benefits of ITC.

Nobody is going to get money out of own pocket.

My only problem is Whatsapp messages which blindly boast Government reducing tax from 18% to 5% as if prices will reduce.

 

[ijsa]

In this age of technology...... I think harassment of the businesses is unnecessary....

Why not Govt. charge directly from customer in digital transaction...... whoever has to pay, should pay directly to Govt.... Payment can be split at time of (digital)transaction and go directly to Govt. coffers....

Businessmen don't give a damn whether Govt. 2% or 200%....... but why to unnecessarily harass......

Is Govt. paying anything to Businesses for account keeping and tax collection and deposit......