A capital good was purchased for a restaurant business which was unutlised till 23rd gst council meeting (where rate of output supply was reduced to 5% from 18%)
now assesee was unable to utilise tax. Can he claim refund of such ITC ?
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Itc accumulated in restaurant business
Replies (4)
| Originally posted by : Piyush Moriani | ||
 |
A capital good was purchased for a restaurant business which was unutlised till 23rd gst council meeting (where rate of output supply was reduced to 5% from 18%) now assesee was unable to utilise tax. Can he claim refund of such ITC ? |
 |
No
means whole ITC will Lapse?
| Originally posted by : Piyush Moriani | ||
|
means whole ITC will Lapse? | |
Yes untill claimed
No you cannot claim refund
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