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-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.

  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. economictimes.indiatimes.com › wealth › taxWhat is composition scheme of GST, who is eligible and how to ...

    Sep 18, 2023 · The composition scheme under GST requires businesses to file GST returns on quarterly and annual basis. This is different where monthly GST return filing is mandatory. "Only two forms are to be filled by businesses under composition scheme of GST. These are GSTR-4 (annually) and GST CMP-08 (quarterly)," says Sanjay Chhabria, CA & Director ...

  7. People also ask

  8. taxguru.in › goods-and-service-tax › compositionComposition Scheme Under GST – Eligibility, Tax Rate, Conditions

    Oct 11, 2021 · Composition Scheme is uncomplicated and simple scheme under GST for small taxpayer. They can get relaxation from monotonous GST formalities and can also pay tax at a fixed rate of Turnover. This scheme is only applicable to those whose turnover is not exceeding Rs. 1.5 Crores. ELIGIBLITY FOR COMPOSITION SCHEME: