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GST Rate Changes
I am running a hotel cum restaurant now my query is that i purchase a item with 12% or 18% or 28% gst rate and i use that for consumption of make a product of restaurant and that product falls under 5% gst so am i able to get itc only 5% of our purchases.
Replies (4)
Dear all,
I have a query regarding wrong gst rate return filling what i do for, Actually Abc express which is transort company while gst they do not mention the exact gst rate but we filled return and they shown different rate of gst how to solve the problem that i facing,how to treat the same plzz suggest me
Restaurant industry opting for 5 % is not entitled to ITC.
Restaurant Service Provider whether opted for Composition Scheme or not, they will pay 5% GST without the benefit of Input Tax Credit(ITC).
Dear Shivam,
You will not be eligible for any ITC.
For restaurants, it is mandatory to charge 5% and no ITC shall be allowed.
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