Restaurant under 5% GST without ITC
This query is : Resolved
29 January 2023
Sir,
One of my friend is running a restaurant. He opted for 5% GST without availing ITC.
His turnover has crossed 1.5 crores in October 22 itself, but he noticed it now only.
Can he continue under the same scheme for this FY ? What should he do now ?
Pls. advice.
One of my friend is running a restaurant. He opted for 5% GST without availing ITC.
His turnover has crossed 1.5 crores in October 22 itself, but he noticed it now only.
Can he continue under the same scheme for this FY ? What should he do now ?
Pls. advice.
29 January 2023
If the registration is under composition scheme, you need to convert it to normal scheme; otherwise he can continue it without any change..
29 January 2023
Thank you very much Sir.
29 January 2023
Most welcome.
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