GST rate on restaurants: Tax impact hurts fine dining outlets
Newer brands are also introduced into different price points. So, in the upper end of fine dining where it is trying to bring back the excitement, Speciality introduced a brand Gong, in Pune last year, positioned as modern Asian cuisine In the lower-end of the market, it is experimenting with easy on the pocket, small portion eating joint named Spicery in Kolkata
GST has come in with no input tax credit, which means high prices for dishes at a time when the concept of fine dining itself is in a crisis with people preferring to order online at affordable prices at home. Image source: Reuters