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output tax liability of restaurant where tax rate is 5% without ITC., Goods and Services Tax - GST |
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output tax liability of restaurant where tax rate is 5% without ITC. |
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Dear Experts Whether ITC from other business verticals under same GSTIN be used for offsetting output tax liability of restaurant where tax rate is 5% without ITC. Please Guide Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
Dear Nilesh Sir, Tax payable on Restaurant @5% is not eligible to avail ITC. There is no relation with other verticals and restaurant supplies. This tax is payable in cash. Therefore, ITC cannot be utilized across different business verticals. You may refer to an advance ruling by AAR of Gujarat in the case of Aristo Bullion Pvt. Ltd., which has a similar issue. Thank you.
ITC not admissible. Otherwise also the concept of 'business vertical' stands omitted w.e.f. 1.2.2019 vide CGST (Amendment) Act, 2018. Page: 1 |
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