In our trading (a restaurant like Coffee Day) ,we pay @ 5% on our sales and do not claim ITC , but charge customer @ 5%on every sale bill.
Is it ok,
please advise
If you are registered under regular scheme. its OK.
3 Replies
Shivam RC
(Student)
(23683 Points)
Replied 04 May 2019
As per Notification no. 46/2017 CT ( RATE ) dated 15-11-2017, GST Rate for Restaurant is 5% without ITC.
Hence, Restaurants cannot claim ITC.
COMPOSITION SCHEME :
GST RATE : 5% ( ITC BLOCKED u/s 17(5) ).
REGULAR SCHEME :
GST RATE : 5% ( without ITC ).
Hence, Restaurants cannot claim ITC.
COMPOSITION SCHEME :
GST RATE : 5% ( ITC BLOCKED u/s 17(5) ).
REGULAR SCHEME :
GST RATE : 5% ( without ITC ).
Recent Topics
- ITR filing for non resident in one FY
- 2 buyer form 26qb
- CFS INCLUDING MAURITIUS SDS
- Tds on rent paid to two persons
- GST R-9 Turnover
- ITC wrongly Taken in GST 3B
- Tax liability in the case of Joint Ownership of Pr
- RCM-Director
- Levy of GST on the invoice that crosses Rs.20 lakh
- Clarification for ITR AY 2024-25
Related Threads
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
