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Restaurants - capital assets itc

pradeep (student) (64 Points)

19 May 2018

Hi friends,

In restaurants if we are charging 5% GST on food & beverages , can i avail GST input on capitalised assets.please confirm

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (193690 Points)
Replied 19 May 2018

No......... if under Composition scheme..........

Yes, to capital assets provided under normal registration........

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 19 May 2018

Yes... I agreed to Mr Dhirajlal Rambhia Sir.

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pradeep (student) (64 Points)
Replied 20 May 2018

Hi Sir,

Thanks you very much.

From 15th Nov 2017 we opted 5% GST. but our turn is above 120 lakhs. can we avail GST input on Capital assets. please confirm

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 20 May 2018

Please give details for the Purchase and it's scheme..

*From 15th November You opt 5% GST means what?
*It's under Composition...?
*When You reach the Turn Over above 1cr...?
*When You purchase the Asset...?
*Are you convert to Regular after reach Turn Over above 1cr...?