GST rates of Hotels and Restaurant's as on date are:
18% with ITC
5% without ITC
So my query is, whether "5% without ITC rate", is it regular or composition scheme?
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GST rates of Hotel and Restaurant's Industry - whether regular or composition scheme?
Replies (10)
In case of restaurant services:
For both , as composition dealer cannot claim ITC , & regular dealer not eligible for ITC as per Notification 46.
For both , as composition dealer cannot claim ITC , & regular dealer not eligible for ITC as per Notification 46.
No ITC on restaurants
As per Notification No. 46/2017-Central Tax (Rate), dated 14th November 2017, standalone restaurants will charge only 5% GST but cannot enjoy any ITC on the inputs.
As per Notification No. 46/2017-Central Tax (Rate), dated 14th November 2017, standalone restaurants will charge only 5% GST but cannot enjoy any ITC on the inputs.
What if restaurant has opted GST @ 18%?
Can they claim ITC in that case?
Can they claim ITC in that case?
NO THE RESURANT CANNOT OPT FOR 18% GST ON FORWARD CHARGE
SO IT MEANS WETHER THE PERSON HAVE OPTED COMPOSITION OR REGULAR RATE IS 5% BUT NOT TO AVAIL OR UTILIZE INPUT CREDIT .
DO I AM CORRECT
SO IT MEANS WETHER THE PERSON HAVE OPTED COMPOSITION OR REGULAR RATE IS 5% BUT NOT TO AVAIL OR UTILIZE INPUT CREDIT . DO I AM CORRECT
SO IT MEANS WETHER THE PERSON HAVE OPTED COMPOSITION OR REGULAR RATE IS 5% BUT NOT TO AVAIL OR UTILIZE INPUT CREDIT . DO I AM CORRECT
SO IT MEANS WETHER THE PERSON HAVE OPTED COMPOSITION OR REGULAR RATE IS 5% BUT NOT TO AVAIL OR UTILIZE INPUT CREDIT . DO I AM CORRECT
yes correct !!!!!!!!!!!!
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