No input tax credit for liquor sales: GST-AAR

MUMBAI: Restaurants that have offset input tax credit (ITC) in respect of liquor sales will be impacted by a recent goods and services tax (GST) advance ruling given by the West Bengal bench. In this regard, the GST-Authority for Advance Rulings (GST-AAR) has held that the applicant would have to reverse the ITC. While advance rulings do not set a judicial precedent, they do influence tax assessme…