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 ?
4 Replies
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 04 August 2018
| 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
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 04 August 2018
| Originally posted by : Piyush Moriani | ||
|
means whole ITC will Lapse? | |
Yes untill claimed
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