I have a shop where I cook food and sold them on take away basis. what is gst rate on takeaway food and am I eligible for composition scheme.
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Quick Summary
This discussion clarifies the Goods and Services Tax (GST) rates applicable to takeaway food. It explains that takeaway food is generally taxed at 5% without input tax credit (ITC), while outdoor catering is 18% with ITC. The composition scheme is also discussed, allowing eligible businesses with an annual turnover under £1.5 crore to pay 5% GST quarterly.
GST rate of Food Parcels/Takes away :5% without the benefit of ITC. Outdoor catering rate:18% with the benefit of full ITC. If the restaurant owner opts for Composition scheme then he is require to pay @ 5% GST and file GSTR4 return on quarterly basis. (Total turnover should not exceeds Rs. 1.5 Crores annually. )
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