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 - Reply By KALLESHAMURT .....

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..... HY MURTHY - The Reply = 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. The .....

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..... refore, 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. .....

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..... - Reply By KASTURI SETHI - The Reply = ITC not admissible. Otherwise also the concept of 'business vertical' stands omitted w.e.f. 1.2.2019 vide CGST (Amendment) Act, 2018. - output tax liabi .....

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..... lity of restaurant where tax rate is 5% without ITC. - Query Started By: - NILESH PITALE Dated:- 14-10-2024 Last Replied Date:- 15-10-2024 Goods and Services Tax - GST - Got 2 Replies - GST - Discus .....

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..... sion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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