Jubilant FoodWorks unreservedly supported the reduction of GST on restaurants to 5%, as we believed it to be an extremely progressive and growth-enabling measure. In the absence of any explicit rules and guidelines, we followed the spirit of the law and passed on the benefits of GST reduction to our customers with immediate effect.
The company further asserts that the loss to the company due to Input Credit withdrawal was far higher than the price increase that was taken, and this wasn't taken into account by the NAA. The company said it is studying the order in detail and will be exploring all possible options for the future.
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