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MANIVASAGAM (CEO)     25 September 2021

Trading with ITC & Restaurant 5 Tax

Can a Registered dealer do Trading Business with ITC & Restaurant Business without ITC (5% Tax) in the same GST Registration Number. If so, how can the dealer prove that he has availed ITC only for Trading and not availed ITC for Restaurant purchases.

 4 Replies

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     25 September 2021

To prove you can keep separate books of accounts.

Rajkumar Patel

Rajkumar Patel   26 September 2021

I think your case related to composition scheme for restaurant business. so You will have to apply composition to trading business also.

MANIVASAGAM (CEO)     26 September 2021

But our turnover is above composition limit. Only regular tax payer.
CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     26 September 2021

Yes you can take ITC only if you are in regular scheme.

Keep separate books of accounts.

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