Carrying forward of IGST ITC for hotel construction
This query is : Resolved
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.
21 January 2024
https://insta.instavat.in/pdf/UTR-ADVANCE-RULING-14-20.pdf
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