Dear sir,
we can claim itc on purchase of gifts for employees
Menu
ITC on gift purcbases for employees
Replies (8)
No it is not available
Not available in view of Section 17(5) of the CGST Act, 2017
also if value of gift exceeds 50000 it will be taxable in view of proviso to clause 2 of Schedule I read with section 7 of cgst Act
By virtue of Section 17(5) clause (h) of the CGST Act 2017, ITC on GIFTS is Blocked.
Hence you cannot claim ITC on GIFTS.
Hence you cannot claim ITC on GIFTS.
Yes... I agreed to alll the above said replies...
ITC not available for the gift purchase to give as gift to Employees.
ITC not available for the gift purchase to give as gift to Employees.
you can't claim ITC on gift . but you, value of ITC put into all other ITC 4a(5) and also put into 4 b (2).
thanks all
no not allowed as doesn't qualify as supply
Recent Threads
- Houston Sign Company For Custom Signs, Banners &am
- Refund due to change in GST Rate Tobacco Products
- Lease related query can we rent out lease ?
- Planning of Ceased a Business i.e Closure of Compa
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
Related Threads
CAclubindia
