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F&b ITC
Where is this written that no ITC if F&B is taxed @ 5%m
Replies (6)
Quick Summary
Pls put your querry clearly.
Gst composition rate for restaurants is 5 percent. so we per composition tax rules, you can not avail itc
Are there any fresh circulars to it.I think no.
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....
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....
Input tax credit is applicable provided you furnish certain documents
Please elaborate what are the certain documents??
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