GST valuation and ITC in case of donation
Bansari T Sheth (CA Final Student) (44 Points)
31 May 2021That means, if company purchase asset, and after that donate to the hospital, can we avail ITC?
What will be the value for supply?
Bansari T Sheth (CA Final Student) (44 Points)
31 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 May 2021
Gagan Gupta
(Chartered Accountant)
(161 Points)
Replied 31 May 2021
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 31 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 01 June 2021
Bhavika Kothari
(CA)
(1258 Points)
Replied 07 June 2021
As per section 17(5) ITC cannot be claimed on assets donated to hospital