I run a restaurant in a rented property.
The landlord has informed me that he will charge me GST @ 18% above my rent from 1st July
I currently charge my customers service tax as per the laws. Will be charging them GST as per law
Will I get ITC of the GST paid to my landlord?
4 Replies
sanjay singhal
(CA)
(987 Points)
Replied 20 May 2017
You can opt for composition scheme. composition scheme available in case of restaurent services. in that case ITC will not be available.
gauresh sukhramani
(3 Points)
Replied 21 May 2017
Thanks Mr Singhal
so ITC will not be available if I opt for Composition scheme
but in a scenario where I do not opt for composition scheme, ITC will be available.
Can you please also guide me to specific rule/section under which this benefit will be available to be as I suppose this was not available under Service Tax Laws
so ITC will not be available if I opt for Composition scheme
but in a scenario where I do not opt for composition scheme, ITC will be available.
Can you please also guide me to specific rule/section under which this benefit will be available to be as I suppose this was not available under Service Tax Laws
Arun Kumar
(9 Points)
Replied 21 May 2017
The Restaurant & Catering Services attract the GST @ 5% of turnover under composition scheme. (State 2.5% + Central 2.5%)
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