Highlight Investment Research is an independent and privately owned organization, has come a long way and today has emerged as a premium Indian stock & commodities consultancy, with an absolute focus on business and a commitment to provide “Real value for money to all its clients”.
The goods and services tax (GST), which celebrated one year of rollout on July 1, has been a mixed bag for the hospitality and restaurant sector, and firms are expecting further rationalisation of the tax structure, reported PTI. The initial days of GST were full of confusion, according to Garish Oberoi, president, Federation of Hotel and Restaurant Associations of India (FHRAI). "While the hospitality sector was under the impression that it will be kept under one slab, we found out that we were kept in all the slabs right from 0 to 28 per cent.
However, he said it is too soon to comment on the real impact and the sector will wait for further rationalisation of the GST mechanism. "Overall, it has been a mixed bag and mostly not very positive for the industry," he added. Oberoi further claimed that the implementation of GST lead to the industry losing some international high-end meetings, incentives, conferences and events (MICE) business. "No where in the world do you see a taxation rate at 28 per cent and once the system finally was put in place those business went to other locations," he added. Even for the restaurant industry, he said, while the rate reduction to 5 per cent has been positive the input credit has affected many restaurants in the metros.
No comments