Query about gst registration

Murali (owner) (25 Points)

06 July 2017  

Hello Everyone!,

I run a fast food restaurant ( Quick Service Restaruant ) non AC . My turnover for since inception of business ( 5 years ) has been less than 30 lakhs. I have not ben paying any tax other than Income tax as its a proprietory business . My major expenses come in form of Salaries, Groceries and Utilites.

I would like your suggestions if I should register under Compounding Scheme and pay 5% GST and forgo the Input tax Credit or register under  the  regular scheme of 12% applicable for non ac restaurants.

Thanks in Advance

Veeru