Can anyone confirm wether for a restaurant service if,
Composition: no ITC , 5% tax from pocket
Regular scheme: no ITC, 5% tax from customers
Regular scheme: ITC available, 18% tax from customers
Is it correct??
8 Replies
Anshuman Basu
(account -GST)
(1556 Points)
Replied 20 June 2019
yes but is a alcohol free restaurant
Radhika Harsha
(Chartered Accountant)
(72 Points)
Replied 20 June 2019
in composition scheme you would be liable to pay gst at the rate of 5℅ and you cannot collect gst from customers.
regular scheme: you don't have option to choose between 5℅ without input tax credit and 18℅ with input tax credit
5℅ without ITC for restaurant services: where the restaurants declared value of accomodation is less than rs 7500
if the accomodation is more than 7500, for restaurant service gst has to be levied at 18% with Input tax credit
regular scheme: you don't have option to choose between 5℅ without input tax credit and 18℅ with input tax credit
5℅ without ITC for restaurant services: where the restaurants declared value of accomodation is less than rs 7500
if the accomodation is more than 7500, for restaurant service gst has to be levied at 18% with Input tax credit
Shivam RC
(Student)
(23683 Points)
Replied 20 June 2019
Agree with Radhika Ma'am's view...
Regular Scheme Dealers in Restaurant Business does not have the option to choose between 5% GST Rate without ITC and 18% GST Rate with the benefit of ITC.
Regular Scheme Dealers in Restaurant Business does not have the option to choose between 5% GST Rate without ITC and 18% GST Rate with the benefit of ITC.
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 20 June 2019
Yes i agree too.
better to go for normal scheme so that 5% can be collected from customer and not required to pay from pocket.
better to go for normal scheme so that 5% can be collected from customer and not required to pay from pocket.
abhishek bardia
(partner)
(308 Points)
Replied 20 June 2019
regular scheme is only available if a restaurant forms a part of the hotel having accommodation charges more than 7500 otherwise all the restaurants will have to fall in 5% without ITC
Pratik khilari
(CA FINAL)
(75 Points)
Replied 21 June 2019
Abhishek baradia sir can you please give reference of relevant provisions.
Siddharth Kishan Mane
(Tax Consultant)
(283 Points)
Replied 22 June 2019
What GST rate pattern for Restaurant & Bar serving Food & Liquor
Recent Topics
- What is the eligible condition of Gst amnesty sche
- TDS - 194Q
- F.m.v as on 1-4-2001
- Is paypal gst paid before registration eligible fo
- Agreement value
- Income Tax rules on EPF withdrawal
- Request for Verification of Claim of Exemptions in
- Request for verification of claim of exemption
- Cap gain exemption for 2 property
- Crypto Trading-Taxability
Related Threads
CAclubindia
