J.S.Dua Actually, it is unfair to increase the basic prices by as much as the reduction in GST amount and thus charging the customers same amount at old and new GST rates. The rates should increase by the amount of input GST credit they were getting earlier. For example, if the cost of various raw materials IS/WAS Rs.80.00 for these two items and GST paid to suppliers was Rs.14.40 @ 18%; then they are supposed to add Rs.14.40 in basic price because they will not get input credit under new reduced GST rate of 5% total. Thus, the basic price of the item should have been about Rs.175.00 (also assuming that there is no reduction in GST rates of the raw materials; otherwise this amount ought to be only Rs. 4.00 instead of Rs.14.40) and Rs.184.00 including GST of 5%. And if the GST on raw materials is also reduced to 5% then the basic price of invoice should be only Rs 178.00 (169+9) and with 5% GST it should be about Rs. 187.00 (178+5%). This basic amount of Rs.80.00 for raw materials, though arbitrary, is realistic (or rather high and should be of the order of say Rs.60.00 or so) in this kind of industry where other costs like space rentals,furniture,kitchen appliances,electricity,water,salaries and wages,housekeeping etc. are rather high and some of the ingredients must be supplied by vendors whose turnover is well below Rs.1 Cr, thus there is almost 0% (1%) tax on those purchased items by restaurants.This means that increase in basic price should be anywhere between Rs.3.00 to Rs.5.00 and not Rs.21.00 as has been done above. more
Why not it was protested immediately on the spot attracting other customers' attention. Have you lodged a complaint with the concerned authority. If not, you should do it now. more
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By Satyapal Singh
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