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claiming of itc for restaurant
can I take ITC on inputs purchased for business purpose?
Replies (3)
In 23rd Meeting of Gst council, it was held that :
ITC CANNOT BE CLAIMED IN RESPECT OF INPUTS USED IN THE RESTAURANT BUSINESS.
THE RATE OF GST WAS REDUCED TO 5% FROM 18%,SINCE,RESTAURANTS WERE NOT PASSING BENEFITS OF ITC TO CUSTOMERS.
THEREFORE, U CANNOT CLAIM ITC FOR INPUTS USED IN RESTAURANT BUSINESS.
ITC CANNOT BE CLAIMED IN RESPECT OF INPUTS USED IN THE RESTAURANT BUSINESS.
THE RATE OF GST WAS REDUCED TO 5% FROM 18%,SINCE,RESTAURANTS WERE NOT PASSING BENEFITS OF ITC TO CUSTOMERS.
THEREFORE, U CANNOT CLAIM ITC FOR INPUTS USED IN RESTAURANT BUSINESS.
INWARD SUPPLY OF FOOD & BEVERAGES TO a supplier who is providing RESTAURANT SERVI... CAN WE CLAIM ITC ?
but if the restaurant charge 18% under 996332 whether itc is applicable or not
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