composition calculation for restaurants
Pradeep Reddy (27 Points)
20 December 2018Pradeep Reddy (27 Points)
20 December 2018
jyoti bhagchandani
(fresher)
(595 Points)
Replied 20 December 2018
CA Vijeta Nathani
(Chartered Accountant)
(505 Points)
Replied 20 December 2018
Restaurants are required to pay GST at a concessional rate of 5% on the turnover under Composition Scheme subject to following restrictions
Hence, The calculation shall be made at 5% of the total Turnover. i.e. Suppose, if the Turnover of one quarter is INR 2 Lac; Then, 5% i.e. Rs. 10,000 Shall be Paid as GST. (Rs. 5000 CGST and Rs. 5000 SGST)
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