Eating out to be cheaper as GST on all restaurants cut to 5%

November 10, 2017 19:38

Union Finance Minister Arun Jaitley addresses the media after the conclusion of 23rd GST Council Meeting in Guwahati, Assam.

The FM said that the new GST rates which were announced earlier will be applicable from November 15.

Here are some of the highlights:-

- 178 items moved from 28% to 18% GST slab, changes will be applicable from November 15.

- 228 items were in the 28% GST category, which were then rationalised by the committee

- We have been rationalising 28% GST tax bracket items into lower slabs

- 13 items moved from 18% to 12%, 6 items from 18% to 5%, 8 items from 12% to 5%, 6 items from 5% to nil

- All restaurants in the country to be levied GST of 5%, no ITC benefit to any restaurant

- Starred hotels will be taxed at 18% with the benefit of input tax credit

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