Inputtaxcredit
This query is : Resolved
Quick Summary
k.b.nagesharao
(Querist)
24 June 2022
we are running a small eatery, registered under gst. My query is if we charges 5%gst on food items
shall we get input tax credit on purchase of food items like rice,,sugar, oil etc. Please give your valuable suggestions, Thanks in advance.
K.B.Nagesha rao
shall we get input tax credit on purchase of food items like rice,,sugar, oil etc. Please give your valuable suggestions, Thanks in advance.
K.B.Nagesha rao
Gokul Sharma
(Expert)
24 June 2022
The GST rate levied on all restaurants (including AC and non-AC, both alcoholic and non-alcoholic) is 5% without an input tax credit.
CA Altamush Zafar
(Expert)
24 June 2022
ITC is not available for restaurants
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