Hello!
Our client is a gst registered dealer selling medicines. They also give free medicines as an act of charity and not for promotion of business. How shall we show those free supply in the returns and can we claim ITC?
Thanks in advance!
Akshaya Priya (CA Final Student) (48 Points)
15 March 2018Hello!
Our client is a gst registered dealer selling medicines. They also give free medicines as an act of charity and not for promotion of business. How shall we show those free supply in the returns and can we claim ITC?
Thanks in advance!
VINEETH.R
(FINANCIAL ACCOUNTANT)
(458 Points)
Replied 15 March 2018
No you can't claim that itc, you should reverse the itc for free supplies that has happened...
Akshaya Priya
(CA Final Student)
(48 Points)
Replied 15 March 2018
Should I show the free supply in the return? If yes, how?
Aashish Sachdeva
(839 Points)
Replied 15 March 2018
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 15 March 2018
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
