The Group of Ministers (GoM) reportedly recommended lowering of tax rates under the GST composition scheme for manufacturers and restaurants to 1 percent. Currently, manufacturers are charged GST at 2 percent while restaurants are charged 5 percent. Reportedly, recommendations have been made to lower the tax rates for AC restaurants from 18 percent at present to 12 percent which would make tax uniform for AC and non-AC restaurants that are not covered under the composition scheme.
OTHER NEWS SHOTS
Read More News Stories