I run a restaurant in a rented property.
The landlord has informed me that he will charge me GST @ 18% above my rent from 1st July
I currently charge my customers service tax as per the laws. Will be charging them GST as per law
Will I get ITC of the GST paid to my landlord?
Menu
ITC on Rent
Replies (4)
yes you can
You can opt for composition scheme. composition scheme available in case of restaurent services. in that case ITC will not be available.
Thanks Mr Singhal
so ITC will not be available if I opt for Composition scheme
but in a scenario where I do not opt for composition scheme, ITC will be available.
Can you please also guide me to specific rule/section under which this benefit will be available to be as I suppose this was not available under Service Tax Laws
so ITC will not be available if I opt for Composition scheme
but in a scenario where I do not opt for composition scheme, ITC will be available.
Can you please also guide me to specific rule/section under which this benefit will be available to be as I suppose this was not available under Service Tax Laws
The Restaurant & Catering Services attract the GST @ 5% of turnover under composition scheme. (State 2.5% + Central 2.5%)
Recent Threads
- NSTPI registration
- GST PAID IN DELHI
- How to Trade Forex in India?
- TDS - requirement of TDS by individual under presu
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
Related Threads
CAclubindia
