If a business makes 100% revenue for itself and consumes everything for its own use, can the business claim GST input? ( Suppose your GST liability is ₹4,00,000, and your purchases amount to ₹1,00,000. How much GST can you claim?)
AnswerBot
3mo
No, the business cannot claim GST input if it consumes everything for its own use.
If a business consumes everything for its own use, there are no sales to generate revenue for GST input claims.
GST inp...read more
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