i am.work contractor,having a GST no. collecting 18% GST on constructiin services
now i want to open a hotel (lodge), room rate less rhan rs 1000 per day
can I continue with same gst no. and avail.input on work contract materials, as i was availing earlier?
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Work contract business woth lodging hotel services
Replies (3)
Quick Summary
Yes you can ......but need to reverse the ITC as per Section 17(2) ,r/w rule 42
Note : As the nature of business is completely different hence better to obtain separate GSTN for hotel business.
Note : As the nature of business is completely different hence better to obtain separate GSTN for hotel business.
Nature of busibess will be
1)work contract
2)hotel business
gst collected on work contract business 1,00,000
input on building materials for contract business 1,00,000
tax collected and input in hotel business - 0, because room rate below 1000
in this case , should i reverse ITC?
1)work contract
2)hotel business
gst collected on work contract business 1,00,000
input on building materials for contract business 1,00,000
tax collected and input in hotel business - 0, because room rate below 1000
in this case , should i reverse ITC?
NO....... NOT REQUIRED TO REVERSE.
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