My company is donig business of mobile phone distribution.For lucky draw of customers we purchase some items for gift to lucky winners. Can we calim input on such purchase.
Kindly give me ur guidelines.
Menu
Gift for lucky draws
Replies (1)
As per section 17(5)(h) of the CGST act, Gift is blocked credit, so You Can not claim input tax credit.
Recent Threads
- 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
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
Related Threads
CAclubindia
