As per the Act an entity is allowed to keep the same GSTR number for multiple business verticals in the same State.
So can an entity net off it's tax liability of one business vertical against the ITC claimed under another business vertical??
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Input tax credit
Replies (3)
if u are not registered as business vertical then output tax liability of one business can be set off against the input tax credit.
bcz in this case different business vertical consider as a single business within that state
Yes, GST Input Tax Credit can be claimed in this case.
There is no restriction anywhere in law that this cannot be claimed. As you have not registered separately for each vertical, it would be considered as a single business and Input Tax Credit would be allowed.
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