Input credit on capital goods in business of restaurants
Sakshi Arora (1 Points)
16 December 2017
can we claim input tax credit of capital goods in the business of restaurant
3 Replies
CA Mayur Todmal
(Practicing CA)
(7756 Points)
Replied 16 December 2017
Till 15/11/2017 you can avail ITC on all inputs , Input services, Capital goods used in the business of restaurant. But after 15/11/2017 if you are elibile for 5% rate on outward supply you can not avail input credit
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8311 Points)
Replied 19 May 2018
If a restaurant having multiple business like renting of banquet and other renting of immovable property service then whether the ITC is available ? And if yes then how much ? Is there any proportion or formula for that available?
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