Restaurant Industry- Whether GST leading to Profit
Goods and Service Tax (GST) has been implemented in India w.e.f 1st July 2017 with much fanfare. One of the key point as highlighted by Prime Minister of India is that it will result into reduction in the prices to the consumers. With the newspaper reports the dream was becoming true when the automobile industries came up with the substantial reduction in the prices of high end luxury car. Our Prime Minister in his talk "mann ki baat" referred to a letter from a poor person stating that due to implementation of GST in the country has resulted cost reduction to make it affordable to ordinary person. Yes it is true that the car prices of high end models have come down due to GST. Is it really true for daily needs of ordinary citizens.
Persual of menu card of a restaurant for the period of pre-GST and Post GST reflects that the restaurant has adapted to profiteering. While the prices should have been reduced by 13.5% and 7.5% after implementation of the GST which would have enabled the restaurant to have the same profit marging at the same level of Pre-GST period, on the contrary the prices have gone up ranging from 9% to 48% of almost all items that too when there is no increase in the input cost due to implementation of GST. I feel GST Council to kindly look into the profiteering being adapted by the restaurants. A link of the article posted on my blog has already been mailed to GST Action Room for their persual and appropriate action. I would request members about their views and comments as to whether the prices have actually been reduced or the restaurants have adapted to profiteering. more
Persual of menu card of a restaurant for the period of pre-GST and Post GST reflects that the restaurant has adapted to profiteering. While the prices should have been reduced by 13.5% and 7.5% after implementation of the GST which would have enabled the restaurant to have the same profit marging at the same level of Pre-GST period, on the contrary the prices have gone up ranging from 9% to 48% of almost all items that too when there is no increase in the input cost due to implementation of GST. I feel GST Council to kindly look into the profiteering being adapted by the restaurants. A link of the article posted on my blog has already been mailed to GST Action Room for their persual and appropriate action. I would request members about their views and comments as to whether the prices have actually been reduced or the restaurants have adapted to profiteering. more
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Oct 31
Most of us must be having menu cards as lot many of us are in habit of giving telephonic orders for home delivery of food items. I appeal the members if they got the menu card prior to July and also from July month, the scanned copy of the same may be shared so as to see the business trends and tendency for profiteering. more
Aug 10
There has to be strict reality check by Weights and Measurement department, MRTP act etc. more
Aug 10
Restaurants have increased the prices by adding service charges and over above that they are charging GST, this issue has to addressed by the govt. more
Aug 09
