ITC on purchases made by restaurant

336 views
User Avatar

268 Points Posted on 16 February 2018
dear all,
can we take input on purchases made by a restaurant..where the restaurant pays an output tax @ 5%
0 Reply Share Follow
On 16 February 2018 at 14:48 Report
Replies (3)
User Avatar

Chief financial Officer- CFO
164 Points Posted on 16 February 2018

Hi,

Restaurants are not eligible to take input credit   

Reply
On 16 February 2018 at 16:20
User Avatar

28 Points Posted on 16 February 2018
Restaurant has opted for composition scheme (5% output tax) so no ITC can be availed.
1 Reply
On 16 February 2018 at 16:29
User Avatar

Practicing CA
7756 Points Posted on 16 February 2018

Whether or not standalone restaurant opting for coposition scheme paying 5% is not eligible for itc from 15/11/2017

Reply
On 16 February 2018 at 18:18

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Foreign remittance
  2. Affordable Residential Flats in Gurgaon
  3. Manufacturing
  4. TAN REGISTRATION ON E-FILLING SITE
  5. Form 10-IEA – Continuing Old Regime
  6. Income tax act 2026
  7. Belated Return where Form 10IEA filed this year to
  8. GST Reconciliation Tool (2A vs Books) - looking fo
  9. TDS ON PF FORM 19 WITHDRAWAL
  10. Can a virtual office in Mumbai be used for company

More recent discussions | Post

Related Topics :

Loading