ITC on Expenses related to Ceremonial occasions
This query is : Resolved
02 November 2020
We have organized Vigilance Awareness Week and conducted various competitions for Employees and their Family members and we have purchased Gifts for the Winners. Can we avail the ITC of the Gifts purchased?
regards
We have organized Vigilance Awareness Week and conducted various competitions for Employees and their Family members and we have purchased Gifts for the Winners. Can we avail the ITC of the Gifts purchased?
regards
02 November 2020
Creation of vigilance awareness is related to business so ITC can be claimed on such gifts.
02 November 2020
However, you will have to reverse ITC on the gifts given to family members of employees.
03 November 2020
Dear Sirs,
Thank you very much for clarifying.
regards,
A K Sarma
Thank you very much for clarifying.
regards,
A K Sarma
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
