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gst rate sweet shops restaurant

Scenario on ITC for Sweet Shops & Restaurants Made Clear by GST Appellate

Confusions were prevailing in the Food industry and baseless inceptions were being drawn regarding the Sweet shops, as should be considered amongst the dine-out eatery or not. It is the GST Council which had to finally plunge in this scene and the GST Appellate brought the clear picture.

ITC Eligibility Sales Promotion Schemes Under GST

GST: CBIC Agrees ITC Eligibility on Sales Promotion Schemes

The FMCG (fast moving consumer goods), retail, food, and pharmaceutical companies can now sigh in relief because the government have read their minds and clarified that the ITC (Input Tax Credit) will also be applicable for promotional schemes like the ‘buy one get one free’ (BOGO) and with the same price and extra quantity.

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