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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.
Replies (4)
To prove you can keep separate books of accounts.
I think your case related to composition scheme for restaurant business. so You will have to apply composition to trading business also.
But our turnover is above composition limit. Only regular tax payer.
Yes you can take ITC only if you are in regular scheme.
Keep separate books of accounts.
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