What is the VAT Rate to be charged on sales done for above 50 Lakhs in Hotels & Restaurant in Tamilnadu.?
How to calculate Taxable Turnover ?
Input Tax Credit is available or not ?
B.N.Dharmendra
(Senior Manager Indirect Taxation)
(136 Points)
Replied 03 January 2014
TN VAT ACT SECTION
7. (1) Notwithstanding anything contained in this Act, but subject to the provisions of this Act,-
(a) every dealer shall pay tax on the sale of ready to eat unbranded foods including sweets,
savouries, unbranded non-alcoholic drinks and beverages served in or catered indoors or outdoors by star hotels recognized as such by Tourism Department of the State Government or Government of India and restaurants attached to such hotels at the rate of 14.5% of the taxable turnover; and
(2) The dealer, who pays tax under clause (a) of sub-section (1) shall be entitled to input tax
credit on the goods specified in the First Schedule purchased by him in the State.
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