Menu
input tax
sir my friend is running restaurant and bakery cum sweet shop.can he claim input tax on purchase of sweets /bakery items.he is not claiming any input tax credit for purchases made for restaurant. kindly guide me in this regard
Replies (5)
He may be registered under composition scheme
Sir He can not opt composition scheme as he is running another firm having same PAN as regular dealer
Restaurant services cannot be availed under ITC under the latest amendment
Sir In addition to Restaurant Services he is selling Sweets and Bakery items in same shop
That doesn't matter the items he purchase from a restaurant doesn't have ITC
Recent Threads
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
Related Threads
CAclubindia
