Yahoo India Web Search

Sign In

Search results

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

    Dec 20, 2020 · Composition Scheme under GST for Restaurant and Hotel Services. by Samaira Tolani in Composite Taxpayers. Publish on December 20th, 2020. For the benefit of small taxpayers, the GST Department brought out the composition scheme initiative. It is a simple and relatively hassle-free way for GST Compliance for small taxpayers.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  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.

  7. People also ask

  8. taxguru.in › goods-and-service-tax › compositionComposition Scheme-GST Rate & Threshold Limit under GST Law

    Aug 29, 2020 · Composition Scheme -GST Rate & Limit. [ Notification No. 08/2017 – Central Tax, dated 27.06.2017] Applicability Period: – These Rates are applicable from 01 July 2017 to 31st Dec 2017. Threshold Limit: – Rs. 75 lakhs (Rs. 50 Lakhs for Special Category Sate) from 01 st July 2017 to 13 th October, 2017. Type of Business.