ALSO READGST: Are hotels, eateries overcharging you? How to get the math right GST: Booking a Rs 5,000-plus hotel room? Be ready to pay more Asked to pay VAT while dining out? Understanding restaurant bills post GST Investors beware: Stock markets are not prepared for GST disruption Small traders, restaurant owners set to get fresh GST relief
Restaurants in hotels with room tariff of Rs 7,500 and above per day will attract 18% GST with full input tax credit.
Among the individual stocks, Royal Orchid Hotels hit a 52-week high of Rs 156, up 16%, and Speciality Restaurants rallied 8% to Rs 127 on the BSE in intra-day trade.
Asian Hotels (West), Jindal Hotels, Advani Hotels, EIH Associate Hotels and Coffee Day Enterprises are among those trading 2% to 8% higher, as compared to 0.28% decline in the S&P BSE Sensex at 10:56 AM.
According to PTI report, the Hotel and Restaurant Association of Eastern India (HRAEI) said the GST Council's decision to cut tax rate for restaurants to 5% without input tax credit comes as a big relief for the industry.
"We are very happy with new GST slab announcement for restaurants. Our proposals were considered with due importance and this announcement is a big relief for the hospitality sector," HRAEI President Sudesh Poddar said in a release.
|ASIAN HOTELS (W)||324.00||302.00||7.3|
|THE BYKE HOSPI.||159.70||152.95||4.4|
|BEST EASTERN HOT||67.85||65.25||4.0|
|ASIAN HOTELS (E)||279.00||274.15||1.8|
|COFFEE DAY ENTER||231.90||228.15||1.6|