Blocked input credit u/s 17 (5)
This query is : Resolved
10 October 2024
Dear Sirs : One of my clients who is manufacturing goods has claimed input GST credit on (a) health insurance of permanent employees (b) Diwali gifts to clients (c) festival / diwali expenses. Please advise that do these expenses fall in category of blocked credit u/s 17(5). Is there any justification for claiming input tax credit ? Kind regards
15 October 2024
a and b ITC can be claimed being related to business promotion.
c ITC can't be claimed as it's not related to business promotion.
c ITC can't be claimed as it's not related to business promotion.
15 October 2024
dear Mr Seetharaman ji : (c) festival / diwali expenses. These expenses are for sweets and gifts distributed to workers and clients .... kindly suggest
15 October 2024
you can't claim input tax credit (ITC) on the GST paid for these gifts, regardless of the value.
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