GST Council recommends slashing GST for AC restaurants to 12% from 18%

The GST Council has recommended slash in GST rate for AC restaurants to 12 per cent from previous 18 per cent. This recommendation was made during the Council’s 22nd meeting held on October 6 in Delhi under chairmanship of the Union Minister of Finance and Corporate Affairs, Arun Jaitley. The federal tax body has set up a five-member panel of state ministers to make the quarterly tax filing and payment scheme for small businesses more attractive and to rework the tax rate on restaurants.