27 July 2022
Dear Sir/ Madam, I have some confusion, and want suggestion that- (1) If we buy some goods (whether it is food or for other use) from the market and send it to our distributors as a surprise gift along with the goods sold (by placing them inside the box), what will be the proper billing procedure? And what will be its effect on GST? Can we do this or not? Please describe. (2) I want to give scheme to our distributors as BUY 4 GET 1 Free- What is the billing/Accounting procedure under GST?
Thanks in advance- awaited for your valuable reply
20 August 2023
1. Yes possible, You can buy the goods but do not claim any GST ITC 2. Yes Possible too, but the ITC on free product will not be eligible to claim
CAclubindia
