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GST Scheme applicability on non AC resuaturant

20 October 2018

Dear Sir and Practicing Members,

Im running Jumbo king franchise and he has registered under GST Composition scheme.

Now we want to convert under Regular scheme..can we do the same and at what rate we need to discharge the GST liability...

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12 Replies

RAJA P M ("Do the Right Thing...!!!") (127177 Points)
Replied 20 October 2018

Yes... You can convert Composition scheme to Regular scheme...

But, I don't know "What is JUMPBO KING"...?🤔🤔🤔😇😇😇

Virendra Gupta (CMA) (182 Points)
Replied 20 October 2018

hahaha...thank you sir...
it's same like Domino's and McDonald's franchisee..
what rate would be applicable to me???

rahul (a) (1620 Points)
Replied 20 October 2018

i think 5%.........

Virendra Gupta (CMA) (182 Points)
Replied 20 October 2018

5% that is under composition scheme

Razik Mohamed (2 Points)
Replied 20 October 2018

without ITC GST @ 5% ..with ITC 18%

Shivam RC (Student) (23683 Points)
Replied 20 October 2018

You can opt for Composition Scheme ( SECTION 10 of CGST ACT 2017 ) and the applicable GST rate is 5% without the benefit of INPUT TAX CREDIT.

1 Like

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 21 October 2018

Its cover under Resturant hence as per notification 46/2017 CT (r) , Gst is applicable 5% without ITC

Yes you can switch to Regular scheme but only at the beginning of FY

Vinod Babu (24191 Points)
Replied 21 October 2018

Pankaj ji . In my view, you can switch to regular scheme any time after the approval request of withdrawal of compostion scheme by Tax payer.
Pankaj ji and other experts can give their views.

RAJA P M ("Do the Right Thing...!!!") (127177 Points)
Replied 21 October 2018

Dear Babu.,

I think "Mr Pankaj Ji is just typically mistake"

Wait on his confirmation here... 😇😇😇😇

1 Like

Vinod Babu (24191 Points)
Replied 21 October 2018

yes, may be typical mistake because Pankaj ji does not give wrong views.

RAJA P M ("Do the Right Thing...!!!") (127177 Points)
Replied 21 October 2018

Originally posted by : Vinod Babu
	yes, may be typical mistake because Pankaj ji does not give wrong views.

Then Why You ask This One...

Ha Ha Ha Ha.... Yeppaa Saaaami...!!?!!

( Pankaj ji . In my view, you can switch to regular scheme any time after the approval request of withdrawal of compostion scheme by Tax payer. Pankaj ji and other experts can give their views

Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=489353&offset=1 )