Hello
My client is into restaurant business charging 5% GST on outward supplies.
We pay tax on RCM for rent on property taken for employees' accommoation. Can ITC we availe ITC for the RCM paid ?
Pls advise.
Hello
My client is into restaurant business charging 5% GST on outward supplies.
We pay tax on RCM for rent on property taken for employees' accommoation. Can ITC we availe ITC for the RCM paid ?
Pls advise.
ITC of GST paid under RCM on rent for employee accommodation is NOT available
because:
Restaurant is under 5% GST scheme with ITC restriction, and
Employee accommodation is a blocked credit under Section 17(5).
What if restaurant area itself taken is on rent, can we avail itc
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
