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Britannia rues lack of consumer demand
December 12, 2017 |by indiafood forum | Comments Off on Britannia rues lack of consumer demand | FOOD & GROCERY | Britannia, GST
More than a year after demonetisation and six months since the GST was implemented consumer demand still remains sluggish with no immediate signs of uptick and people not feeling “bullish,” biscuit maker Britannia said…READ MORE
KEEP READINGGST impact: Fake brands of packaged food flood market
December 11, 2017 |by indiafood forum | Comments Off on GST impact: Fake brands of packaged food flood market | FOOD & GROCERY | GST
With the packaged food industry taking a hit because of the GST burden, businesses from across India applied for deregistration in a bid to escape the tax. Popular trademarks went off the shelf overnight and manufacturers began selling products under new, unregistered trademarks…READ MORE
KEEP READINGGovernment rules out review of GST for restaurants
December 4, 2017 |by indiafood forum | Comments Off on Government rules out review of GST for restaurants | FOOD SERVICE | GST
The government has ruled out the possibility of any review in the goods and service tax (GST) regime for restaurants, amid intense lobbying by a section of the eateries to restore the benefit of input tax credit (ITC)…READ MORE
KEEP READINGRestaurants, realty firms under watch as govt receives 31 complaints after Nov 15 for not passing GST rate cut benefit to consumers
November 29, 2017 |by indiafood forum | Comments Off on Restaurants, realty firms under watch as govt receives 31 complaints after Nov 15 for not passing GST rate cut benefit to consumers | FOOD SERVICE | GSTThe government has received 31 fresh complaints under GST’s anti-profiteering mechanism, for not passing on to consumers a reduction in price after rate of over 200 items were cut less than two weeks back…READ MORE
KEEP READINGGST reshaping FMCG logistics into modern business, says study
November 29, 2017 |by indiafood forum | Comments Off on GST reshaping FMCG logistics into modern business, says study | FOOD & GROCERY | GSTTrade and industry may have faced teething troubles from the Goods and Services Tax (GST) but the entire business landscape of FMCG (fast moving consumer goods), retail and logistics is going to be transforming into modern and efficient model with introduction of uniform tax regime…READ MORE
KEEP READINGSteps taken to pass on rate cut gains: FMCG companies
November 27, 2017 |by indiafood forum | Comments Off on Steps taken to pass on rate cut gains: FMCG companies | FOOD & GROCERY | Amul, Dabur, GST, ITC, Nestle, Vanaja SarnaConsumer goods companies including Nestle, Dabur, ITC and Amul have assured Central Board of Excise and Customs (CBEC) chairperson Vanaja Sarna that they have passed on the recent reduction in goods and services tax (GST) rates to consumers by lowering prices…READ MORE
KEEP READINGDining at star hotel? Pay 18% tax on food
November 24, 2017 |by indiafood forum | Comments Off on Dining at star hotel? Pay 18% tax on food | FOOD SERVICE | GSTPeople booking rooms in high-end hotels are in for an unpleasant surprise. They clarified that if a hotel has a range of rooms with tariff below and above Rs 7,500, all customers dining in restaurants at such hotels will have to pay 18% GST on food bills, even though the room they have booked is under Rs 7,500 per day…READ MORE
KEEP READINGStickers on existing stock must show GST cut: Govt to FMCGs
November 24, 2017 |by indiafood forum | Comments Off on Stickers on existing stock must show GST cut: Govt to FMCGs | FOOD & GROCERY | GSTThe government has told consumer goods firms and industry stakeholders that new price tags on existing stocks in the trade pipeline should clearly show the difference that the recent cut in GST has made…READ MORE
KEEP READINGRestaurant associations to approach Finance Ministry for input tax credit on rent
November 24, 2017 |by indiafood forum | Comments Off on Restaurant associations to approach Finance Ministry for input tax credit on rent | FOOD SERVICE | GSTA little over a week after the GST Council slashed rates for restaurants to 5%, restaurants associations are planning to approach the finance ministry on the matter…READ MORE
KEEP READINGTax department to warn restaurants to cut prices; Pass on benefit of 5% GST to diners
November 23, 2017 |by indiafood forum | Comments Off on Tax department to warn restaurants to cut prices; Pass on benefit of 5% GST to diners | FOOD SERVICE | GSTAfter FMCG companies, it is restaurants that the tax department and finance ministry is likely to instruct to cut prices. The government is believed to have taken strong exception to restaurants hiking food prices despite the sharp cut in GST to 5%…READ MORE
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