Essentially, the meal provided by the restaurant to the customer is not taxed, but the delivery service provided by the platform is taxed. Catering services In general, you should not expect to be charged tax on catering services if you're ordering from a typicalcatering companythat is cooking...
No GST & No Service Charge! Recently discovered Hey Yakiniku, which just launched Marumi Pork from the famous Miyazaki prefecture. It's apparently the first Yakiniku restaurant to offer Marumi Pork, which is very sweet, flavourful and super tender, melting in your mouth. Just launched on 19 Ma...
The new year brings in new enthusiasm and cheer. January in India marks the beginning of a new fiscal quarter, a time when businesses gear up for year-end tax planning and compliance. The month is also crucial for businesses focusing on closing reconciliations for the previous year while stayi...
Reverse Charge under GST Under the reverse charge mechanism, the burden of the tax is the recipient of goods or services or both instead on the supplier. In other words, reverse charge means where the recipient of goods or service or both has to discharge the tax liability on his own accou...
GST-registered businesses add this to the prices they charge, collect it on the government’s behalf, then pay it to the Australian Taxation Office (ATO). Although a business pays GST on its supplies and purchases, it can usually claim the money back through its tax returns. Although ...
Reverse Charge under GST Under the reverse charge mechanism, the burden of the tax is the recipient of goods or services or both instead on the supplier. In other words, reverse charge means where the recipient of goods or service or both has to discharge the tax liability on his own accou...
GST on Food Services & Restaurant Business Any change in the tax regime reflects on the food services and restaurantbusinesses first. And the impact of GST on food services and restaurant businesshas been no different from this trend. Given that the restaurant and foodservice industry was valued...
Factors such as the country or region you're selling in, or the type of industries you sell to, can impact the amount of GST that you must account for. For example, a restaurant might charge 6% GST for meals that are eaten in-house, and 17% for takeaway. To accomplish that, you cr...
Q.5 – Could the supplies of the restaurant services incurred via ECOs be recorded as the inward supply of ECOs (obligated to reverse charge) in GSTR 3B? Q.6 – Can ECOs be obligated to reverse proportional ITC on their input goods and services for the reason that the ITC would not ad...
Previously, service tax was levied on loans at 15%. With the advent of GST, this has increased to 18%. However, GST is not applicable to loan repayments or interest payments. It is only levied on processing charges and other fees excluding principal and interest payments. Therefore, the ...