my query is that whether a restuarent which is selling food stuffs like vada pav, samosa some what like fast food, tea and soft drinks. So VAT is Applicable to such client if limit prescribe under the Act exceeds.
1)if yes than rate of VAT?
2)Restuarent is is running for 15years so what should be done now if it was applicable for these years?
Plaese refer the respective vat law.It is Deemed sales.There may exemption in particular VAT Law.So Plaese go through the Related VAT Law
VAT is applicable @ 14.5%. Some hotels add VAT on the entire bill amount, which is actually illegal. The 14.5% VAT can only be charged on the bill amount for items prepared by the restaurant itself. No VAT should be charged on items like packaged drinking water, soft drinks and other packed food items.
PARV & Co.
New Delhi
CA Inter
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CCI
Pro
CAclubindia
