what are input are available in GST ..? shall we take ITC for all expenses related to bussiness..like rent, stationary,freight, asset purchase, tell me please
Yes on everything ITC can be taken if the procurement are used in the course or furtherance of business, expect the items which are specifically restricted under section 17(5)
Test of eligibility is that you are able to substantiate that it is incurred in course of furtherance of business and not for personal use and are not specifically fall under blocked credit as per section 17(5).
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