Recently an AC Restaurant has been opened in my locality and i have been visiting it regularly.It's been open for for 5 months.
The restaurant doesn't levy service tax.It's an AC Restaurant doesn't serve liquors.
Questions i have
1.Does an newly opened restaurant gets abatement for first few years?
2.The restaurant is good and in my opinion it's transaction is going to be above 10 lacs easily.
Is the restaurant going to charge service tax only after it crosses 10 lacs of transaction on it's book.
3.Is it mandatory for AC restaurant to levy service tax, irrespective of transaction?
4.Is he doing any tax evasion wrt service tax?
Thanks
CAclubindia
