GST on Gift purchase
Juned Ahmad (Accountant) (111 Points)
07 June 2022
Can I take ITC in Cloth/ Gift Purchase
2 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14692 Points)
Replied 07 June 2022
No , You Can not take input tax credit on Gift purchase , as it is blocked credit as per section 17(5)(h) of the CGST act 2017.
sabyasachi mukherjee
(27529 Points)
Replied 07 June 2022
No it's not intended to be used for furtherance of business.
Recent Topics
- Gratuity under CTC
- GST refund paid as estimated tax liability
- Salary Income and Professional services income
- Sec 54 and TDS on sale of property
- Airbnb Manager - I manage properties for owners
- Wrong head ed for late fee
- Inter Company trnafer
- Job work-Reg
- Who is liable to pay GST if bank charges excl GST
- Cost of Acquisition IPO cases
Related Threads
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
