14 November 2013
I am Accountant of a Restaurant. In my resturant vat collects @ 2%. But we filed in return in On-Line, in the Form-L The 2% is not in, Their is 1%, 4% & 12.5% Only.My question is which Percentage I Select and What is the real Percentage of Restaurantin TNVAT?
14 November 2013
For restaurants,under composition,vat rate is 4% and you can not collect it. If not under composition you can collect @12.5%.Secondly,you have to mention to which state it refers to....mjk
CAclubindia
