Is Input or receivable interchangeable words

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Daya

Daya (Querist)
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31 October 2024 is input or receivable interchangeable words some person used GST Input or some used GST receivable.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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31 October 2024 GST input refers to the tax paid on purchases of goods and services that are used for business purposes.
Example: If a business purchases raw materials for ₹10,000 and pays ₹1,000 as GST, the ₹1,000 is the GST input.

GST Receivable refers to the GST collected from customers on sales of goods and services.
If a business sells goods worth ₹10,000 and charges ₹1,000 as GST, the ₹1,000 is the GST receivable.