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CONSEQUENCES OF GOODS AND SERVICE TAX (GST) ON RESTAURANT INDUSTRY
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Author(s):
DR. PRAMODKUMAR V. DESHANI
Vol - 8, Issue- 9 ,
Page(s) : 372 - 379
(2017 )
DOI : https://doi.org/10.32804/CASIRJ
Abstract
In this study an attempt is made to know the impact of Goods and Services Tax (GST) on restaurant industry. GST is a comprehensive tax levied on manufacture, sale and consumption of goods and services at a national level. The Government GST regime replaced excise duty, import duties, VAT and service tax regulations, along with other cesses and surcharges, with three separate legislations namely CGST, SGST and IGST. GST is applicable to all transactions of goods and service, and it paid to the accounts of the Centre and the States separately. The biggest advantage of GST is economic unification of India. GST brought lots of effects on daily life of people. This paper studies the consequence of GST on restaurant industry.
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