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Introduction: Initially, restaurant services were liable to 18% GST. Subsequently, at the 23^rd GST Council meeting on 10.11.2017 held at Guwahati, it was recommended that all standalone restaurants, irrespective of whether air conditioned or not, will attract 5% GST without ITC. To give effect to such decision, a notification No. 46/2017- Central Tax (Rate) dated 15.11.2017 was issued, as per which the GST rate applicable to services provided by restaurants, eating joint including mess,...

Compliance Related Aspects

1.1 Simplified return format:

The council has recommended for a simplified return process as follows:

1. All taxpayers excluding small taxpayers and a few exceptions like ISD etc. shall file one monthly return. 
2. The return is simple with two main tables. One for reporting outward supplies and one for availing input tax credit based on invoices uploaded by the supplier.
3. Invoices can be uploaded continuously by the seller and can be continuously...

Background:  

There is a system prevalent in some states where the transfer of tenancy rights against tenancy premium which is also known as “Pagadi system”. This is similar to any other renting system that is prevalent across the world i.e. landlord and a tenant. However, the only deviating factor is that the tenant also becomes a part owner of the house but not of the land.  

In the Pagadi system, the tenant acquires the tenancy rights in the property against payment of...