Dear Sir and Practicing Members,
Im running Jumbo king franchise and he has registered under GST Composition scheme.
Now we want to convert under Regular scheme..can we do the same and at what rate we need to discharge the GST liability...
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GST Scheme applicability on non AC resuaturant
Replies (12)
Yes... You can convert Composition scheme to Regular scheme...
But, I don't know "What is JUMPBO KING"...?🤔🤔🤔😇😇😇
But, I don't know "What is JUMPBO KING"...?🤔🤔🤔😇😇😇
hahaha...thank you sir...
it's same like Domino's and McDonald's franchisee..
what rate would be applicable to me???
it's same like Domino's and McDonald's franchisee..
what rate would be applicable to me???
i think 5%.........
5% that is under composition scheme
without ITC GST @ 5% ..with ITC 18%
You can opt for Composition Scheme ( SECTION 10 of CGST ACT 2017 ) and the applicable GST rate is 5% without the benefit of INPUT TAX CREDIT.
Its cover under Resturant hence as per notification 46/2017 CT (r) , Gst is applicable 5% without ITC
Yes you can switch to Regular scheme but only at the beginning of FY
Yes you can switch to Regular scheme but only at the beginning of FY
Pankaj ji . In my view, you can switch to regular scheme any time after the approval request of withdrawal of compostion scheme by Tax payer.
Pankaj ji and other experts can give their views.
Pankaj ji and other experts can give their views.
Dear Babu.,
I think "Mr Pankaj Ji is just typically mistake"
Wait on his confirmation here... 😇😇😇😇
I think "Mr Pankaj Ji is just typically mistake"
Wait on his confirmation here... 😇😇😇😇
yes, may be typical mistake because Pankaj ji does not give wrong views.
| Originally posted by : Vinod Babu | ||
 |
yes, may be typical mistake because Pankaj ji does not give wrong views.   |
 |
Then Why You ask This One...
Ha Ha Ha Ha.... Yeppaa Saaaami...!!?!!
( Pankaj ji . In my view, you can switch to regular scheme any time after the approval request of withdrawal of compostion scheme by Tax payer. Pankaj ji and other experts can give their views
Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=489353&offset=1 )
yes vinod ji can opt out of composition scheme any time
t
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