Hotel & restaurant and composition scheme
This query is : Open
14 July 2017
1.A person who who run a restaurant as well he has also hotel rooms can he avail the benifit of composition scheme in both business?
2. A Trader who obtain the composition scheme under GST Provision but he have lying the huge closing stocks as on 30.06.2017 then what rate will be applicable on the closing stocks is it will @ 1%?
2. A Trader who obtain the composition scheme under GST Provision but he have lying the huge closing stocks as on 30.06.2017 then what rate will be applicable on the closing stocks is it will @ 1%?
14 July 2017
1. No he can't take benefit of composition scheme.
2. Clarify you switch from VAT to Composition or composition to composition in GST
2. Clarify you switch from VAT to Composition or composition to composition in GST
14 July 2017
Thanks for clarification on hotel and restaurant secondly trader who was under vat registered dealer and having the huge closing stock as on 30th June 2017 and he wants opt the composition scheme will he pay the tax @ 1% on said lying stock remember he is going to migrate from vat dealer. Pl clarify this queary
14 July 2017
No need to do anything until any notification will come in this regards.
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