what is the threshold limit for restaurants as composition????
what should be the rate if crosses threshold limit??
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Gst rate in restaurants
Replies (5)
Quick Summary
For composition scheme limit is upto 1.5 crores rupees.
If limit exceeds then composition scheme is not applicable and regular scheme is applicable and regular GST registration should be taken
If limit exceeds then composition scheme is not applicable and regular scheme is applicable and regular GST registration should be taken
Composition scheme limit - 1.50 crores
If you are registered composition scheme. Then you have to submit 5% Tax of your sale
If limit exceeds then composition scheme is not applicable and regular scheme is applicable and Tax rate - 18%
If you are registered composition scheme. Then you have to submit 5% Tax of your sale
If limit exceeds then composition scheme is not applicable and regular scheme is applicable and Tax rate - 18%
If limit crossed 1.5 Crores: Restaurants can opt for 5% without ITC right ?
Yes 5% GST is applicable
It's 5% tax without itc. No limit on turnover
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