Restaurants 5%
nikhil mantri (31 Points)
18 February 2019
Restaurants normally rate 5% can they claim itc??
7 Replies
Pankhuri Agrawal
(Chartered Accountant)
(412 Points)
Replied 18 February 2019
Yes they can of they are not registered under composition scheme
Shivam RC
(Student)
(23683 Points)
Replied 18 February 2019
Not Allowed....
Incase of both Composition Scheme and Regular Scheme , the Restaurant Service Providers are not allowed to claim INPUT TAX CREDIT ( ITC ).
COMPOSITION SCHEME :
GST RATE : 5% ( ITC Blocked )
REGULAR SCHEME :
GST RATE : 5% ( without ITC )
Regards.
Incase of both Composition Scheme and Regular Scheme , the Restaurant Service Providers are not allowed to claim INPUT TAX CREDIT ( ITC ).
COMPOSITION SCHEME :
GST RATE : 5% ( ITC Blocked )
REGULAR SCHEME :
GST RATE : 5% ( without ITC )
Regards.
Pankhuri Agrawal
(Chartered Accountant)
(412 Points)
Replied 18 February 2019
@ Shivam is correct. I missed out the notification. You cannot claim itc in restaurants
nikhil mantri
(31 Points)
Replied 18 February 2019
Can you please mention particular notification for restaurants in regular scheem and rate 5%
Shivam RC
(Student)
(23683 Points)
Replied 18 February 2019
As per Notification no. 46/2017 CT ( RATE ) dated 15-11-2017, GST Rate for Restaurant is 5% without ITC.
Hence, Restaurant cannot claim ITC.
Hence, Restaurant cannot claim ITC.
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