Hi, my query is about ITC on hotel business till 14th November and later cases
an entity who is into business of hotel services and who had collected GST at a old rates(18%) and eligible to avail ITC but after 15th Nov hotel serives brought under 5% tax category with no GST on Input as such
now while filing return for the month of November GST which was collected till 14th November is eligible for ITC and from 15th GST charged (5%) has to pay tax without claiming ITC
can we use ITC available till Nov 14 for setoff of output tax of 5% from 15th Nov ?
please suggest in this regard
Hotel Services- 18% with itc to 5% with no itc
Replies (4)
yes. we can claim ITC till 14th Nov against liability of 18% gst
can we use ITC available till Nov 14 for setoff of output tax of 5% from 15th Nov ?
ideally 5% tax introduced with condition of NO ITC.
but in principle you r eligible to utilise the credit laying in your electronic credit register.
what I mean is availing credit and utilising it are 2 different things. as per my view u can utilise credit already availed and laying in ur credit register.
but in principle you r eligible to utilise the credit laying in your electronic credit register.
what I mean is availing credit and utilising it are 2 different things. as per my view u can utilise credit already availed and laying in ur credit register.
Thanks for your input Mr. Tushar
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