Big relief for Restaurants and Hotels

Big relief for Restaurants and Hotels

New GST rate for all the restaurants whether they are air conditioner restaurants or non air conditioner restaurants is flat 5%.

• Restaurant Industry will not enjoy the benefit of Input tax credit. As the benefit of ITC cannot be passed on to the final consumers.
• Outdoor catering will be at 18% with ITC.
• Hotel Industry will be charged 18% for room tariff above Rs. 7500/- . (Restaurants will be charged at 18%)
• Hotel Industry will be charged 5% for room tariff below Rs. 7500/- .(Restaurants will be charged at 5%)
• It will be effective from 15th November'2017.
• Restaurants registered under composition scheme or a regular scheme will have the same GST rate.

Click Here to Buy CA Final Pendrive Classes at Discounted Rate You may also like :

• GST rates slashed : Only 50 items to face 28% GST rate
• Recommended changes in composition scheme announced in 23rd GST council meeting
• GSTR 3B to be filed for all the months upto March 2018
• GSTR -1 is also to be filed for all the months date for the same will be notified soon.
• Penalty for late filing of return is also reduced.
  • For nil returns it has been reduced to Rs. 20/- fromRs. 200/- per day.
  • For others it will be Rs. 50/- per day from Rs. 200/- per day.
• GSTR -4 can be now filed upto 24th December,2017.