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Input tax credit

28 February 2018

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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3 Replies

sudip sharma (article) (734 Points)
Replied 28 February 2018

if u are not registered as business vertical then output tax liability of one business can be set off against the input tax credit.

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sudip sharma (article) (734 Points)
Replied 28 February 2018

bcz in this case different business vertical consider as a single business within that state

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Neha sharma (-) (1257 Points)
Replied 28 February 2018

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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