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Gst input
If we are dealing in furniture making and selling job. When we purchase raw material from supplier they charge on us GST which can be adjustable or we can take input credit of it But when we purchase some other material on which we are not doing job work and not selling it further like tea coffee purchase, office expenses, staff pantry expenses etc. So CAN WE TAKE INPUT CREDIT OF THE SAME TAX ON EXPENSES?
Replies (3)
You can purchase any goods for related your business. If your purchases are taxable. You can take ITC.
Your all expenses are taxable under GST. Even you can get any taxable receipt or invoices for your expenses also you get ITC in same. If not you'll be pay Tax on RCM basis for the expense.
RCM ll be payable after reverse. It's not adjustable for your ITC....
Your all expenses are taxable under GST. Even you can get any taxable receipt or invoices for your expenses also you get ITC in same. If not you'll be pay Tax on RCM basis for the expense.
RCM ll be payable after reverse. It's not adjustable for your ITC....
You mean, we can take input credit of tax on expenses as well as purchase of goods related to bussiness
Yes can get ITC if you get invoices. If not first you ll pay under RCM then you can reverse the Tax
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