GST Implementation: Prices of coffee and tea will be up
Posted on: 23/Mar/2017 9:32:03 AM
As all the items sold in Fast Food Shops come under the GST domain, the prices items like coffee and tea sold in the shops will also go up.
GST (Goods and Services Tax) system is scheduled to be implemented all over the country from 1st July.
The specially formed GST Council, meeting several times and reviewing the process, has finalised the mode of GST for different categories of items.
In this scheme, the trading organisations which do a business of over Rs. 50 Lakhs per year will have to pay additional taxes.
All fast-food shops are also brought under the GST domain. Currently, food items are being charged at the rate of 4 percent.
Henceforth, these will be charged GST on the basis of the overall trading done.
This has led to a situation where the prices of items like coffee and tea will come under GST tax bracket. So, the hotel owners have announced that the prices of these items will go up after the implementation of GST.
