Is there any way to plan for paying minimum GST?
There is a restaurant in a hotel. Assuming the accounts department wants to buy 10 meals, the restaurant charges GST even on the captive consumption.
Because of this, the company is loosing out so much money by paying GST.
- It’s not possible, not to show sales
- Sales should be shown at cost pay GST, as ITC is not available.
- Is there any way to plan for paying minimum GST.
Thank you in advance for your answer to this question about any way to plan for paying minimum GST.Answer the question
1.Not Showing sales will lead to wrong practices and will creat financial loss to the organisation besides will also lead to financial fraud.This is strictly not advisable.
2. As a matter of documented policy,cost of the may reduced for billing to staff. Staff discount may be offered against their employee code or subsidiesd rate be charged to staff as a matter of policy. Whatever be the policy, it should have a uniform application.Billing would be with applicable GST.
3. For restaurents applicable GST has to be charged and paid to the govt.