Resturant having 2 cr. turnover

Rates over restaurants remain same...... i.e. 5% without ITC (except starred hotels).........

But because of turnover limit, such resturants have to opt regular scheme.

No.   Only over Taxable supplies.....

So if i summarize,
If turnover is less than 1 Cr. => COMPOSITION SCHEME (Quarterly Returns) + 5% tax on Taxable Supplies + No ITC Allowed.
If Turnover is aboe 1 Cr => REGULAR SCHEME (Monthly Returns) + 5% tax on taxable Supplies + No ITC Allowed.

Is that Correct Sir??

Correct  ... that's position as on date..........  And in first option Composition is not mandatory.

One more difference is charging of GST.......... Composition dealer can only issue bill of supply, while regular dealer can issue tax invoice with GST charged extra.

Thanks alot for sharing knowledge.

Most Welcome......

dear sir

if restaurent opt for regular scheme than in GSTR 3B , ITC detail should not be entered ???