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Restaurant Business

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402 Points Posted on 18 November 2019
A dealer engaged in Restaurant Business and is a regular dealer and he is going with 5 %scheme so can he collect the Tax from the customers when he is not taking ITC or he should not collect 5%Tax.
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On 18 November 2019 at 14:14 Report
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Chartered Accountant
186 Points Posted on 18 November 2019

Yes, 5% tax will be collected from customer but you can not take any credit.

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On 18 November 2019 at 16:38
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402 Points Posted on 18 November 2019
Ok whats the section for this
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On 18 November 2019 at 18:36
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GM-ACCOUNTS
142 Points Posted on 18 November 2019

Standalone restaurants are eligible to collect tax at 5% with no ITC. If you have opted for composition scheme then you are not eligible to collect tax and the availment of ITC does not arise

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On 18 November 2019 at 21:11
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GST Practitioner
55067 Points Posted on 18 November 2019
The rate of 5% without ITC is prescribed in Notification 46/2017 CT (R) , DTD.14/11/2017.
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On 18 November 2019 at 23:12
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402 Points Posted on 19 November 2019
Whats differnce between 5% GST regular and composition rules of GST
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On 19 November 2019 at 12:18


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