itc
This query is : Open
11 October 2017
how can a restaurant dealer set off itc on cold drinks on which he paid tax @ 28℅ + 12℅ cess but he has received gst @ 18℅ (now 12℅) on his sale
CA Rashmi Gandhi
(Expert)
11 October 2017
You have to pay excess liability in cash.
11 October 2017
but mam in this case there is excess tax credit my question is that how a restaurant dealer can set off cess paid on cold drink while he can recover only 12℅ or 18℅ from his customer
anshul aggarwal
(Expert)
11 October 2017
You can't that will be carry forwarded. In case your output requires cess at any time then only it can be squared off.
CA Rashmi Gandhi
(Expert)
11 October 2017
ITC of Cess cant be used to set off GST Tax amt.
You have to use same in the month when you have liabilty of cess.
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