WHAT IS THE TAX RATE APPLY FOR SALE OF COFFEE AT RESTAURANT OR CAFE BAR ,IN THAT CASE RULE 7B OF INCOME TAX ACT 1961 WILL BE APPLY OR NOT ?
I.E. STARBUCKS, CCD
WHAT IS THE TAX RATE APPLY FOR SALE OF COFFEE AT RESTAURANT OR CAFE BAR ,IN THAT CASE RULE 7B OF INCOME TAX ACT 1961 WILL BE APPLY OR NOT ?
I.E. STARBUCKS, CCD
Income Tax is a personal Tax, where as Sales Tax/VAT is a indirect tax levied on sale of goods.
Sale of Coffee will attract VAT and service Tax as resturant is not only providing Coffee, rather it is providing service also.
Rule 7B of Income tax rules will apply when we computes the income of BAR or other.
RULE 7B is not applicable.....
Plaese don't make any comment which may heart some one feeling.We are professional , behave like professionals
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
