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Input of GST on chit loss

This query is : Resolved 
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(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
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CA R SEETHARAMAN

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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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