Input credit on capital goods in business of restaurants
Sakshi Arora (1 Points)
16 December 2017
can we claim input tax credit of capital goods in the business of restaurant
Sakshi Arora (1 Points)
16 December 2017
CA Mayur Todmal
(Practicing CA)
(7645 Points)
Replied 16 December 2017
Till 15/11/2017 you can avail ITC on all inputs , Input services, Capital goods used in the business of restaurant. But after 15/11/2017 if you are elibile for 5% rate on outward supply you can not avail input credit
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8310 Points)
Replied 19 May 2018
If a restaurant having multiple business like renting of banquet and other renting of immovable property service then whether the ITC is available ? And if yes then how much ? Is there any proportion or formula for that available?
CAclubindia
