GST rate cut Restaurant body to meet govt over pricing The National Restaurant Association of India (NRAI) is likely to make a representation to the government over the next two days regarding the passing on of benefits of the lower goods and services tax (GST) rates to consumers.NRAI has the country´s top fast food chains, among others, as its members. The government on November 10 had slashed the GST on AC and nonAC restaurants —excluding fivestar hotels —to 5 per cent from the earlier 18 per cent and 12 per cent, respectively.But the input tax credit was withdrawn with the rate revision, prompting restaurant chains, including McDonald´s, to with hold passing the full benefit of the tax cut. Their argument was that the non availability of input tax credit pushed up costs by 1012 per cent, implying that the 13 per cent GST cut was taxneutral.“While we welcome the move by the government to cut GST, it may have to relook the issue pertaining to input tax credit,” said NRAI Preside