Restaurant Industry- Whether GST leading to Profiteering
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. One of the daily need is the consumption of food items. An advertisement of Jago Grahak Jago as appeared in the Times of India on 5th August 2017. A scanned copy of the advertisement titled "GST to make common man's plate afford...