Input credit restaurant small business

ITC / Input 109 views 2 replies

Dear Sir,

 

Is ITC credit available for restaurant which turnover is below 20 lacs.

Our director is starting a restaurant and he has been informed by CA that he can avail ITC if his turnover of restaurant is below 10 lax.

But I am not finding any notification for it.

Kindly help.

SONIA

Replies (2)
No not possible...
No ITC on restaurants

As per Notification No. 46/2017-Central Tax (Rate), dated 14th November 2017, standalone restaurants will charge only 5% GST but cannot enjoy any ITC on the inputs....


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