Business Tax Tips – What are Input-taxed Sales?

Posted byVeterans Support SyndicatePosted inBusiness, Military, VeteransTags:, , ,

Business Tax Tips – What are Input-taxed Sales?

Client called, new to business – said she heard about, and asked me to explain Input-Taxed Sales.

Answer – Input-Taxed sales are when a supplier CANNOT charge GST and also cannot claim GST on the sale.

Input-taxed sales are sales of goods and services that don’t include GST in the price, even though GST was included in the price of inputs used to sell the supply. You can’t claim GST credits for the GST included in the price of your ‘inputs’ (purchase/expenses).

👁👉🏾 https://accountkeepingplus.wordpress.com/2022/11/24/business-tax-tips-what-are-input-taxed-sales/

Source: veteran-owned

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Published by Veterans Support Syndicate

Veterans Support Syndicate is a partner-centric organization that unites with diverse networks to elevate the quality of life for U.S. veterans nationwide. Leveraging deep collaborative efforts, they drive impact through Zen Force, a holistic virtual team providing mental health advocacy and resources. They also champion economic independence via VetBiz Resources, supporting veteran entrepreneurs through launch and growth. Together, they ensure those who served receive the support they deserve.

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