a seller is into the business of selling Type A product. to promote the sale of Type A product he is offering Type B product for free. seller makes a single bill in which both the products are mentioned in which type B is shown as zero. will seller need to reverse ITC on Type B?
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 March 2024
Yes, The ITC will be reversible.
Amit Kumar
(Tax Professional )
(112 Points)
Replied 23 March 2024
ITC in respect of free sample is required to be reversed in terms of Section 17(5)(h) of the CGST Act, 2017.
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