https://www.taxtmi.com/forum/issue?id=120340 Election to supply under the reduced GST rate with the no ITC option bars claiming input tax credit for that activity, including plant and machinery used for restaurant services. Plant and machinery exclusively used in the separate manufacture and supply of bakery products taxable at the standard rate remain eligible for ITC. Taxpayers may reassess classification of premises or activities and, by filing the prescribed annexure before the next fiscal year, opt out of the specified reduced rate/no ITC regime to pay the standard rate and claim credits prospectively. en-us Tue, 12 Aug 2025 13:18:05 +0530 Fri, 22 Aug 2025 09:02:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120340 Election to supply under the reduced GST rate with the no ITC option bars claiming input tax credit for that activity, including plant and machinery used for restaurant services. Plant and machinery exclusively used in the separate manufacture and supply of bakery products taxable at the standard rate remain eligible for ITC. Taxpayers may reassess classification of premises or activities and, by filing the prescribed annexure before the next fiscal year, opt out of the specified reduced rate/no ITC regime to pay the standard rate and claim credits prospectively. Discussion-Forum GST Tue, 12 Aug 2025 13:18:05 +0530 https://www.taxtmi.com/forum/issue?id=120340