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of <h1>Delhi Introduces New 5% Composition Tax Scheme for Restaurants and Halwais with Turnover Up to Rs. 50 Lakhs.</h1> The Government of the National Capital Territory of Delhi has introduced a new composition scheme for restaurants and halwais, effective from April 1, 2016. Under this scheme, registered dealers with an annual turnover of up to Rs. 50 lakhs, selling items like cooked food and beverages, can opt to pay a 5% composition tax. Dealers transitioning from the previous scheme are not required to pay tax on opening stock, as these goods have already incurred VAT. However, they cannot claim Input Tax Credit (ITC) on closing stock as of March 31, 2016. Applications for the new scheme must be filed manually until further notice.
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