GST allowable or not ?
This query is : Resolved
03 December 2021
Is GST paid by normal tax payer allowed as expense under Income Tax Act ? Please give reasons. Then why is it so allowed in case of composite supplier ?
04 December 2021
For Normal Dealers it is not allowed as expense because it is available to be recovered from purchaser. Only excess amount after claim of ITC is paid by the dealer.
While for composite dealers it is actual expense or cost to purchase.
While for composite dealers it is actual expense or cost to purchase.
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