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!
Menu
Free supply as charity
Replies (5)
No you can't claim that itc, you should reverse the itc for free supplies that has happened...
yes agree with Vineeth R sir.
Should I show the free supply in the return? If yes, how?
how we reverse the credit please clerify the entries
u have to reverse ITC in 3b under table 4 row D (1) under sec 17(5)
Recent Threads
- Capital Gains from Cancelled Residential Project
- Import of goods data in IMS
- GSTr 9 24-25
- Change HSN
- TDS ISSUE ( DIFFERENT SECTION )
- Company strike off with loan waiver accounting iss
- Board resolution for authorization for GST
- Invoice related audit
- Gst input credit related
- Updated ITR as missed the dead line
Related Threads
CAclubindia
