Form l
This query is : Resolved
Sathish kumar
(Querist)
14 November 2013
I am Accountant of a Restaurant. In my resturant vat collects @ 2%. But we filed in return in On-Line, in the Form-L The 2% is not in, Their is 1%, 4% & 12.5% Only.My question is which Percentage I Select and What is the real Percentage of Restaurantin TNVAT?
MJ Krishnamurthy
(Expert)
14 November 2013
For restaurants,under composition,vat rate is 4% and you can not collect it. If not under composition you can collect @12.5%.Secondly,you have to mention to which state it refers to....mjk
CA BHARATH KUMAR
(Expert)
18 November 2013
restourents, hoteliers comes under composition vat . hence you need not collect the tax
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