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F&b ITC

Anup Kumar (37 Points)

23 January 2024

Where is this written that no ITC if F&B is taxed @ 5%m

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6 Replies

sabyasachi mukherjee (26065 Points)
Replied 23 January 2024

Pls put your querry clearly.

Sharath chandra (Accountant) (1215 Points)
Replied 23 January 2024

Gst composition rate for restaurants is 5 percent. so we per composition tax rules, you can not avail itc

sabyasachi mukherjee (26065 Points)
Replied 24 January 2024

Are there any fresh circulars to it.I think no.

RAJA P M ("Do the Right Thing...!!!") (127167 Points)
Replied 24 January 2024

GST Rules for Restaurants :

Under GST, restaurants fall under the 5% GST rate, with no option to claim input tax credit (ITC) ......

==> For Blocked ITC like self consumption

Please refer sec 17(5)(b)(i )

as (i) food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery except where an inward supply of goods or services or both of a particular category is used by a registered person for making an outward taxable supply of the same category of goods or services or both or as an element of a taxable composite or mixed supply....