F&b income

vik (student) (113 Points)

02 November 2011

what kind of tax liable on f&b income?

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yogesh (student) (223 Points)
Replied 03 November 2011

ON FOOD AND BEVERAGES INCOME TWO TYPES OF TAXES ARE IMPOSED

1. VAT @ 12.5%

2. SERVICE TAX @ 10.3%

IN CASE OF RESTAURANTS, PUBS OR BARS VAT IS LEVIED ON 70% PORTION OF BILLING AMOUNT AND SERVICE TAX IS LEVIED ON 30% PORTION OF BILL.

IN CASE OF BANQUETS HALL AND OTHERS VAT IS ON 60% PORTION AND SERVICE TAX IS ON 40% PORTION.

vik (student) (113 Points)
Replied 04 November 2011

thank buddy...

but r u sure na?

yogesh (student) (223 Points)
Replied 05 November 2011

ya i m sure... coz i do job in this industry...

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