Need your valuable suggestion in gst from my professional colleagues
i have a client deals in restaurants- tax rate 5% without ITC & banquet taxable at 18% with itc
i need your valuable suggestion in gst
Now my Question is - Can I consider Restaurant Service (5% without ITC) at par with exempt supplies for the purpose of apportionment of credit between banquet & Restaurant service.
&therefore rule 42 & 43 can be applied.?
Menu
restaurant & banquet service
Replies (4)
As per my point of view in restaurant the ITC is ineligible & iam not taking input for the same so I can utilize the input of banquet in consolidated to pay of my liabilities tax arise from restaurant & Banquet.
Thanks. Pankaj sir
In my case i have a huge input of lift & other equipments which is both used for banquet & Restaurant service. Kindly advise me that apportionment of input as per rule 43 can be applied (which is applicable on appointment of taxable & exempt supplies)
In my case i have a huge input of lift & other equipments which is both used for banquet & Restaurant service. Kindly advise me that apportionment of input as per rule 43 can be applied (which is applicable on appointment of taxable & exempt supplies)
yes rule 43 can be applied and ITC can be claimed proportionately
yes in that case u Hv. to take it proptiinate
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