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Carrying forward of IGST ITC for hotel construction

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Jeya Ganesh S

Jeya Ganesh S (Querist)
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18 October 2023 Client is coming under RREP, they can avail ITC for commercial hotel and residences. The commercial and residence ratios are 28% and 72% respectively. ITC belongs to hotel will be utilized only after 4 years of construction time. Now in GST portal, we must utilise all IGST ITC first against output taxes. Due to this, ITC (IGST) belongs to hotel will be utilized now itself. How shall we overcome this? Kindly advise.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

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21 January 2024 https://insta.instavat.in/pdf/UTR-ADVANCE-RULING-14-20.pdf

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