A dealer was paying shop rent of 1 lakh pm. Paying GST of Rs. 2.16 lakhs pa @ 18% on rent. Was setting off 2.16 lakh itc against output tax @ 12%.
Now output tax is reduced to 5% without ITC. There will be several other ITC items which he cannot claim.
How to reduce the price on sale of goods while considering huge blocked ITC as cost? | anreads Forums | anreads