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GST Panel Also Cuts 1% Tax For Small Traders And Manufacturers Panel of state finance ministers suggested fresh changes to the Goods and Services Tax (GST), including a cut in the levy at restaurants and a flat 1% tax for small traders, manufacturers and eateries that opt for the less onerous composition scheme. Panel of five state finance ministers has suggested a flat 12% GST for standalone restaurants, whether air conditioned or not, and an 18% levy at eating joints located inside hotels. While standalone restaurants will not enjoy the benefit of input tax credit, those with 18% tax will be entitled to take credit for taxes paid by their suppliers. While the overall incidence was expected to be lower with the gains of input tax credit eaten up by the restaurants, the levy is seen to be detrimental for consumers. The respite on composition scheme will also lower the burden for smaller eateries, which currently attract 5% tax under composition scheme. Scheme, which

RealCash Technologies Ltd Starts Operations In 6 States Across India RealCash Technologies Limited, a FinTech company in helping India to drive towards cashless economy affirmed its presence with a mobile Point-of-Sale technology. RealCash is planning to deploy over 30,000 machines across India by mid 2018, to deliver the right payment solution with speed, accuracy and efficiency in the country. RealCash is focusing on building strong business alliances and partnerships in each state to digitize the whole country. The company has already made its presence and its network in Bihar (Patna & Darbhanga), Andhra Pradesh (East Godavari), Uttar Pradesh (Ghaziabad), Tamil Nadu (Sattanathapuram), Telangana (Hyderabad) and Kerala (Kottayam) to simplify payment acceptance for retailers and enhance their customers’ experience in every state across India. Mukesh Kumar, Head, Sales and Merchant Acquisition, RealCash, said, "With the deployment of RealCash mPOS term

FreshMenu Opens First Front Facing Kitchen At Bangalore Airport Food tech start-up Freshmenu has opened its first front facing kitchen at Bangalore airport as it looking to double down on expanding its order base. With this, Freshmenu has now 35 cloud kitchens across Bangalore Mumbai and NCR and is looking to increase the count to 40-42 in the next four months. Rashmi Daga, CEO of Freshmenu said "In the last 6 months, we have doubled our footprint in Mumbai, opened a lot more kitchens. In this last month alone, we have opened 5 kitchens including the one at the Bangalore airport, Claims to have enough money in the bank to continue (investing for) capex behind the kitchens. With an increase in kitchens, Freshmenu is targeting a 2x growth in revenues even as it chalks out a path to profitability. Trajectory to profitability is very strong. We will be profitable at the net level within 1 year". Daga also stated that, however, he has no plan of opening mo

Gulab Partners With Madras Coffee House To Offer Its Specially Made Snacks Makers of hand-crafted snacks Gulabs Snacks and Savories has partnered with Madras Coffee House to offer it’s specially made snacks at its outlets. Company said in a statement “Under the tie-up, Gulabs would offer 'Moongadi Khakhras' at 25 outlets of Madras Coffee House in Chennai and New Delhi. Each pack is priced at Rs 30 for two pieces and also vacuum packed to maintain freshness and shelf life. Gulabs Vice President, Sales marketing, ruchika Gupta said “Partnering with Madras Coffee House is a strategic move to be accessible to more consumers via multiple. We have specially packaged Moongadi Khakhras for Madras Coffee House, and it is available as pack of two pieces”. Madras Coffee House, General Manager, K kannan said “We are excited to partner with Gulabs and provide a new different and innovative snack companion to coffee because of its dash of spiciness”.