Input of GST on chit loss
This query is : Resolved
R S Sai Kumar
(Querist)
15 March 2024
One of my client runs a sweet shop, manufacturing unit. He has lifted a chit. The chit loss along with input GST was deducted from the bid amount. Is this GST eligible for input claim.
R S Sai Kumar
R S Sai Kumar
CA R SEETHARAMAN
(Expert)
15 March 2024
ITC can be claimed if chit money is used for the purpose of business.
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