GST paid on business inputs and services can be claimed as Input Tax Credit (ITC) under GST law. However, for income tax purposes, only the GST component not claimed as ITC (i.e., the expense borne by the business) is deductible under PGBP.
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GST paid on business inputs and services can be claimed as Input Tax Credit (ITC) under GST law. However, for income tax purposes, only the GST component not claimed as ITC (i.e., the expense borne by the business) is deductible under PGBP.