Regarding turnover

Tax queries 528 views 6 replies

One of My Client has Food stall near by Chaupati.

if i Show Net profit 500000/- and turnover 25Lac

then any problem?

Replies (6)

Your Net profit margin in this case is 20%. What problem could it have?

turnover above 10 lac 

so VAT or service tax attaracts?

if your client is serving to customers then Service tax is applicable but if there is SELF SERVICE system then no service tax is leviable.

this is stall of dosa ...

so service tax applicable???

In my openion there is no problem
I think st is not applicable on food stall bcoz From 1st April 2013, now service tax is applicable only if the restaurant has the facility of air-conditioning or central air heating in any part of the establishment at any time during the year . If the restaurant does not have any of these, no service tax will be applicable. Hence it is irrelevant whether the food restaurant have the liquor license or not.


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