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  1. cleartax.in › s › gst-composition-scheme-restaurantsRestaurants Under GST Composition Scheme - ClearTax

    • GST Rates on Restaurant Bills (with effect from 01.10.2019) S No. Type of Restaurants. GST Rate 1 Railways/IRCTC. 5% without ITC 2 Standalone restaurants. 5% without ITC.
    • GST Composition Scheme Rules. Restaurants are required to pay GST at a concessional rate of 5% on the turnover under Composition Scheme subject to following restrictions.
    • Regular Tax Payer V/s Composition dealer. Particulars. Regular Tax Payer. Composite Tax Payer. Registration. Threshold limit – Rs. 20L. 1.5 Cr.
    • Identify Restaurant under Composition Scheme. Restaurants opting for the composition scheme must mention the words “composition taxable person, not eligible to collect tax on supplies” on the top of the bill of supply.

  2. irisgst.com › composition-scheme-under-gst-forComposition Scheme under GST for Restaurant and Hotel Services

    • Registering For Composition Scheme by Restaurants
    • Restaurants That Cannot Register as Composite Taxpayers
    • Conditions For Restaurants Opting Composition Scheme
    • GST Rate For Restaurant Services
    • GST Return Filing For Restaurants Who Opt For Composition Scheme
    • Identification of Composition Scheme Restaurant

    As the turnover limit of opting for composition scheme under GSTis upto Rs. 1.5 CR, hence any restaurant whose annual turnover is upto Rs. 1.5 CR is eligible to be registered under the GST Composition Scheme. In the case of restaurants in the following states, restaurants with a turnover of up to Rs.75 lakhs can be registered under the GST composit...

    See full list on irisgst.com

    A restaurant serving alcoholic liquor of any form cannot opt for the composition scheme.
    A restaurant having a place of business in different states.
    A restaurant supplying services through e-commerce operators like Zomato, Swiggy etc.
    A temporary or seasonal restaurant with Casual Taxable Person status.

    See full list on irisgst.com

    Cannot collect GST from their customers nor can they issue a taxable Tax invoice under GST
    Required to issue “Bill of Supply” mentioning “Composition Taxable Person” on the same
    Cannot claim Input Tax Credit on their Purchases
    Cannot provide inter-state supply. However, no restriction on receiving inter-state supplies

    See full list on irisgst.com

    Restaurants opting for Composition Scheme under GST are required to pay GST at a concessional rate of 5% on the annual turnover without the benefit of ITC. But where restaurants/catering services are provided in Hotels with tariff up to Rs. 7,500 this concessional rate shall not be available * This covers supplying catering or other services in hot...

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    The taxpayer needs to file the following returns: 1. GST CMP-08(Quarterly from 1st April 2019) 2. GSTR-4– Annual (From FY 2019-20) 3. Annual return in Form GSTR-9A. (Upto FY 2019-20)

    See full list on irisgst.com

    Restaurants registered under the composition scheme cannot issue regular GST invoice but will have to issue a bill of supply. In a Bill of Supply, the only rate per quantity, quantity and the taxable value is to be mentioned. Restaurants registered under the Composition scheme must mention the words “composition taxable person, not eligible to coll...

    See full list on irisgst.com

  3. gsthero.com › gst-on-restaurant-services-hotelsGST on Restaurants & Hotels: Composition Scheme under GST

    Feb 9, 2024 · The restaurants opting under the composition scheme has to pay GST @ 5% as against 12% or 18%. The rate of GST payable under the normal scheme is much higher than the composition scheme. GST Return Filing. The second major point which tries to cover up the above drawback is the filing of GST return.

  4. cleartax.in › s › gst-composition-schemeGST Composition Scheme: Rules, Turnover Limit, Rate, Benefits

    May 23, 2024 · Know about the GST composition scheme rate, rules, limit, benefits and how to check your eligibility. Read GST Composition Scheme in detail with its merits, demerits & transition provisions.

  5. cleartax.in › s › composition-scheme-under-gstComposition Scheme Under GST Explained - ClearTax

    4 days ago · Latest Updates on composition scheme. 6th February 2023. Composition taxable persons and those interested to opt into the scheme for FY 2023-24 can do so by submitting a declaration on the GST portal in Form CMP-02 by 31st March 2023. 5th July 2022.

  6. taxguru.in › goods-and-service-tax › gst-compositionComprehensive Guide to GST Composition Scheme for Small ...

    Aug 5, 2023 · Understand the GST Composition Scheme, its advantages, drawbacks, eligibility criteria, and tax implications for small businesses. Your one-stop guide to simplified GST compliance.

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  8. www.indiafilings.com › learn › gst-compositionGST Composition Scheme: A Comprehensive Guide - IndiaFilings

    Aug 28, 2023 · The Composition Scheme is a straightforward and user-friendly arrangement within the GST framework designed to benefit taxpayers. It offers small-scale taxpayers the advantage of escaping the cumbersome GST procedures by enabling them to fulfill their GST obligations at a consistent rate based on their turnover.