National company Law Tribunal (NCLT) on Monday adjourned the hearing of plea filed against fast food major McDonald’s and its Indian Partner Vikram bakshi.
During the proceeding, lawyer of McDonalds informed that the Delhi High Court on October 25 would hear a petition in which it has challenged the show cause notice for contempt issue by the tribunal.
NCLT bench headed by Chairman Justice MM Kumar adjourned the matter to November 7.
MIPL, a subsidiary of McDonald’s had filed a writ petition before the High Court questioning the validity of the contempt notice issued by the NCLT against it. On September 5, NCLT had issued show cause notice to fast food major McDonald’s and McDonald’s India over the contempt plea filed by Bakshi.
Vikram Bakshi had alleged that by terminating its licence the US- based food giant has violated the NCLT order dated July 13 which reinstated him as the managing director of CPRL and also refrained McDonald’s Corporation to interfere in the functioning of CPRL.
Eating out in air condition comfort could get cheaper if a proposal to fix the GST at 12% on all restaurants is adopted by GST council. Air conditioned restaurant currently charging 18% GST and Non air conditioned charging 12%.
A government official said “It has been felt that the restaurants have not passed on the benefit of input tax credit to consumers. The lower rate of 12 per cent may be extended to cover the entire sector. The GST Council had set up a panel to look into the matter. Representations were made to the panel about restaurants not passing on the benefit of input tax credit while levying 18 per cent GST. After the imposition of GST on July 1, taxes on such services rose to 18 per cent from 15 per cent but the rationale was that input tax credit would neutralise the increase. Following lobbying by the industry, the GST Council set up a panel under Assam Finance Minister Himanta Biswa Sarma to make the composition scheme more attractive and revisit GST rates on restaurants. The panel, which had been asked to give its report in two weeks, has finalised its recommendations.”
The industry lobbied for a 12 percent rate for all restaurants but with the benefit of input tax credit kept intact.
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