Currently, 12 per cent GST on food bill is levied in non-AC restaurants and 18 per cent in air-conditioned ones.
While lowering the tax rate, Jaitley announced that the facility of input tax credit for restaurants was being withdrawn as they did not passed on the benefit to consumers. The prescribed uniform 5 per cent tax on all restaurants will come into force from today.
After the Goods and Services Tax (GST) Council, at its 10 November meeting in Guwahati removed 178 items from the highest 28 per cent tax slab, senior government officials have indicated that there will be no further rejigged in rates before March 2018. "Thus, withdrawal of input credit, apart from rendering the basic fundamentals / objectives of the GST model of indirect taxes, is anti-expansion and development and will not allow establishment to pass on any reductions to the customers", the association said.
The Zynga Inc. (ZNGA) Receives Outperform Rating from Wedbush
The stock is now moving above its 20-Day Simple Moving Average of 0.72% with a 50-Day Simple Moving Average of 1.79 percent. Zynga Inc . ( ZNGA ) is an interesting player in the Technology space, with a focus on Multimedia & Graphics Software.
Menu costs - According to a report, restaurant owners have been thinking a price rise on their menu. Under info tax credit, organizations can assert a balance on the tax paid on contributions against the assessment paid to the administration. But, now the Council has done away with the tax credit on food items used as raw material. This is because of the high rent they have to pay at expensive locations, loss of input tax credit and competition from big eateries. "The very concept of Input Tax Credit (ITC) is central to GST which is to prevent cascading of taxes", Singh had said.
You won't have to consume an opening in your pocket so as to eat at favour AC restaurants. The tax rate on six items was reduced from 18 per cent to 5 per cent, on 8 items from 12 per cent to 5 per cent and on six items from 5 per cent to nil.
Need to simply chill and order food at home? The revised rate will also be applicable on food delivery, whether it is made by the restaurant directly or via apps like Zomato or Swiggy. The Council also recommended that the eligibility threshold for the composition scheme be raised to '1.5 crore from '1 crore, and manufacturers, restaurants and traders under the scheme be levied a uniform 1 per cent tax from the earlier differential tax slabs. Asper the reports, the ICRA welcomed the decision of cut down of 5 percent GST on all the restaurants, Non-Ac and air-conditioned will be the positive outcome for the restaurant's price.
Citigroup Inc. set a $65.00 target price on Merck & and gave the company a hold rating in a report on Wednesday, July 5th. Arrowgrass Capital Partners (Us) Limited Partnership invested 0.09% of its portfolio in Merck & Co., Inc.
India's annual rate of inflation based on wholesale prices went up in October to 3.59 per cent, official data showed on Tuesday. However, the price of manufacture of knitted and crocheted fabrics (2 per cent) and synthetic yarn (1 per cent) moved up.
He will speak to the Foreign Secretary at the Foreign Office at 10am, in a bid to help secure his wife's release from Iran. She has been accused of working with the company and her previous employer, the BBC, to overthrow the Iranian government.
The awards jury members met Andhra Pradesh Chief minister Chandrababu Naidu in Amravati to handed over the victor list. Veteran actor Krishnam Raju won the Raghupathy Venkaiah award for 2014 , Eeswari for 2015 and Chiranjeevi for 2016.
Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Barclays PLC restated an "equal weight" rating on shares of AVEVA Group plc in a research report on Thursday, October 12th.
Earlier, heavy gunfire was heard in the Harare suburbs near to Mugabe's compound as the crisis in the African nation intensifies. Workers were told that they "should not worry", a source added, and that soldiers were only there to protect the site.
Emirates now relies exclusively on the Airbus 380 and the Boeing 777 for its flights, making it the largest operator of both. The Indigo Partners deal is the single largest order by number of aircraft that any individual plane maker has received.
Maliwal and some other DCW members were detained and taken to the Mandir Marg police station, before being released. The suspect, a friend and colleague of the girl's father in a private security company, resides with them.
Winter Storm Warning means there is potential for significant snow, sleet or ice accumulations that may impact travel. Most of the rain will move into this region on Wednesday night, and then into the San Joaquin Valley on Thursday.
Galaxy J2, Galaxy J7 Nxt, and GalaxyJ7 Max were the key models that contributed to nearly 60 percent of Samsung's volume. The number of smartphones shipped by the China-based maker nearly doubled compared to the same quarter a year ago.
House Prices Up 5.4% Across the UK
The UK property market as a whole remains stable, despite fluctuations on a regional basis. Average property have increased by £11,000 in the year to September, new figures show.
Seadrill Limited (NYSE:SDRL) Quarterly Sales Review
Looking at some alternate time periods, the 12 month price index is 0.16527, the 24 month is 0.05526, and the 36 month is 0.01686. According to analysts Seadrill Ltd (NYSE: SDRL)'s minimum EPS for the current quarter is at $-0.13 and can go high up to $0.16.
ALAFCO orders 20 737 MAX 8s
Boeing said it was the biggest ever order from the Middle East for single-aisle passenger planes. More than 50 of the first 175 aircraft to be delivered will be 737 Max 10s, says Boeing.
Sachin Tendulkar makes Test debut for India
That was also the year when he broke the 200-run barrier in ODIs, becoming the first ever to to do so in limited overs cricket. Twenty-eight years ago on November 15, 1989, Tendulkar made his India debut in a Test against archrivals Pakistan in Karachi.
Featured Stock Overview: The Trade Desk, Inc. (TTD)
The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink . In the most updated research from a number of analysts on Wall Street, the company gets 12 Buys and 0 Sell among 18 analysts.
EPS for Navios Maritime Holdings Inc. (NM) Expected At $
The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. The price to book ratio or market to book ratio for Navios Maritime Midstream Partners L.P. (NYSE:NAP) now stands at 0.657036.
Stock Performance to Track: Best Buy Co., Inc. (BBY)
LS Investment Advisors LLC raised its position in shares of CoreSite Realty Corporation by 4.6% during the 2nd quarter. Pioneer Investment Management Inc added to its holdings by buying 118,096 shares an increase of 12.1% in the quarter.