Tax department to warn restaurants to cut prices; Pass on benefit of 5% GST to diners

After FMCG companies, it is restaurants that the tax department and finance ministry is likely to instruct to cut prices. The government is believed to have taken strong exception to restaurants hiking food prices despite the sharp cut in GST to 5%. Confirming this development, Vanaja N Sarna, the chairperson of the Central Board of Excise & Customs (CBEC) told ET Now that letters would be wri…