In our trading (a restaurant like Coffee Day) ,we pay @ 5% on our sales and do not claim ITC , but charge customer @ 5%on every sale bill.
Is it ok,
please advise
Menu
gst implementation
Replies (3)
If you are registered under regular scheme. its OK.
As per Notification no. 46/2017 CT ( RATE ) dated 15-11-2017, GST Rate for Restaurant is 5% without ITC.
Hence, Restaurants cannot claim ITC.
COMPOSITION SCHEME :
GST RATE : 5% ( ITC BLOCKED u/s 17(5) ).
REGULAR SCHEME :
GST RATE : 5% ( without ITC ).
Hence, Restaurants cannot claim ITC.
COMPOSITION SCHEME :
GST RATE : 5% ( ITC BLOCKED u/s 17(5) ).
REGULAR SCHEME :
GST RATE : 5% ( without ITC ).
thank you all
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