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gst on rent paid
if a restauraunt paid to rent for building used to land lord then at which rate gst is payble
Replies (5)
18% GST, with ITC
18% with full ITC as its not specifically mentioned anywhere in the exhaustive list issued by CBEC . It will be covered in the residual services
Dear sir, if restaurraunt taking benifit of composition scheme can also avail ITC on rent paid
No in case of Composition scheme there will be no ITC.
That is the major drawback of composition scheme. So, it is advisable to evaluate its consequences before adopting the scheme. (Confirmed: No ITC under composition.)
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