Union Finance Minister Arun Jaitley-led GST Council on Friday finalised the tax rates for restaurants under multiple categories. The council revealed that restaurants with an annual turnover of under Rs 50 lakh would attract only a 5% tax, while non-AC food joints will face up to 12% tax. Meanwhile, air-conditioned restaurants and fine dining restaurants with a liquor licence will come under the 18% tax slab, and a service tax rate of 28% will be accounted for at luxury and star hotels.
By Varun Vasudevan | May 19, 2017 8:12 PM #Goods And Service Tax #GST Rates
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