INPUT TAX CREDIT FOR HOTEL

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292 Points Posted on 14 December 2023
Sir/, Madam my friend has a hotel accommodation, he purchased a generator of rs 5,95,000/- input tax is 90,000/- can he claim that 90,000 while filing GST ??? kindly reply..
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On 14 December 2023 at 07:35 Report
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This discussion clarifies whether a hotel can claim input tax credit (ITC) on assets such as a generator. The ability to claim the ₹90,000 input tax depends on the GST rate applied to the hotel's output supply. If the hotel follows the 18% ITC rule, the credit can be claimed; otherwise, it must be reversed if a 5% rate is applied.

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"Do the Right Thing...!!!"
128162 Points Posted on 14 December 2023
What about the hotelier folowed the GST rule...??!
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On 14 December 2023 at 21:13
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Profession
28271 Points Posted on 15 December 2023
Input tax credit for hotel mainly for asset purchased.
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On 15 December 2023 at 07:36
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Accountant
1227 Points Posted on 20 December 2023
If the hotel is following 18%itc on the output supply.. then it can take the itc on generator.

if it is following 5 percent, then the itc on generator has to be reversed.
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On 20 December 2023 at 09:32
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.
59 Points Posted on 03 January 2024
Is your friend a hotelier or a customer who had an accomodation in a hotel?
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On 03 January 2024 at 20:59

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