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NRAI asks govt. to reinstate ITC for Restaurant Industry

Tuesday, January 16, 2018, 17:37 Hrs  [IST]
HBI Staff|New Delhi

The apex body of the organised restaurant industry, National Restaurant Association of India (NRAI), in a statement has urged the government to reinstate the Input Tax Credit (ITC) which was withdrawn while rationalising the GST to 5%. 


 In a pre-budget memorandum, the Association has urged the government to reinstate the ITC for the industry, which is “central to and in fact the raison d’etre of GST”. “ The Restaurant Industry has been singled out by removal of the Input Tax Credit….. Ours is the only industry which does not receive this benefit. There are three B2B service industries closely linked with us, which are banking, insurance and real estate which post GST, have been allowed ITC on any supply of goods including capital goods. We would urge Govt. of India to re-introduce ITC for restaurants,” said Rahul Singh, President of NRAI in a statement. 

Singh also demanded uniform policy for licencing as well as single window clearance. “It takes over two dozen licenses and permissions to be able to serve a sandwich. Rather than serving our customers, most of our time is spent in running around departments. We are an industry worth Rs 3,52,000 crore which is expected to grow to Rs 5,52,000 crore by 2022. For an industry of this size generating over 8 million jobs, we also request introduction of a uniform policy that includes Single Window Clearance and Reduction in number of Licenses required for operating a restaurant,” he stated.

 
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