Cashback due to GST
Someone from Ahmedabad ordered food from a restaurant, and under the new GST regime, the restaurant owners decided to give back 5% on the base amount.
This cash back is part of the GST Laws.
A simple explanation: The restaurant charges you 18% GST and pays that to the government.
However the goods and services restaurant buys raw materials to serve you food (like let's say branded atta, masalas) also has had GST paid on it.
Now the restaurant can claim the GST paid (on atta, masalas) against what it has to pay (18% on your bill) and only effectively pay the net amount.
This restaurant has decided to pay that back.
This is part of the anti-profiteering laws under GST, and sooner or later, every service provider will have to do this.
This is a kind of ethical business practice as well, because the service owner will have to take the call here to give the cash back. more
This cash back is part of the GST Laws.
A simple explanation: The restaurant charges you 18% GST and pays that to the government.
However the goods and services restaurant buys raw materials to serve you food (like let's say branded atta, masalas) also has had GST paid on it.
Now the restaurant can claim the GST paid (on atta, masalas) against what it has to pay (18% on your bill) and only effectively pay the net amount.
This restaurant has decided to pay that back.
This is part of the anti-profiteering laws under GST, and sooner or later, every service provider will have to do this.
This is a kind of ethical business practice as well, because the service owner will have to take the call here to give the cash back. more
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Oct 31
This practice of Refund, I have experienced during shopping in Singapore, where the famous Store, Mohd. Mustafa was celebrating it's Annual anniversary. It was so well co-ordinated, that I dropped Claim Voucher at AIRPORT , I did not know how I will get refund, but I was pleasantly surprised to get the check in 15 days. It's purely a goodwill gesture of refunding GST. more
Jul 10
That might be the reason why Singapore is a dream destination to all.. bcz of the honest implementation of law towards General Public.. Unlike..Here..? more
Jul 14
earlier also they claimed the credit but didn't pass on to the customer. Govt has not installed the anti profiteering clause in GST. there is no cost audit in the system. cold drinks of 40p can be packed and sold at 10 Rs. water of Re 1 can be packed and sold at Rs20. Govt does not see profiteering anywhere. they only count the revenue. TASMAC sells the daru from sunrise onwards, lower the efficiency of the labourers.....Govt sees only the mkt of 10000Cr.Rs. SC does not see anything bad in denotifying the Highways as lanes to secure those water holes....... What a beautiful country we are in Sirji !!! more
Jul 10
That is an honest and good business move by the restaurant. This will generate more loyalty customers and will also force other sellers to become honest. Congratulate and give this person/restaurant wider publicity. more
Jul 09
Honesty and Decency pays in the long run.....always! Sometimes I begin to question whether this mention of 18% GST for all products is "correct"...... What happened to products with 5% and 12% GST? more
Jul 08
