sir
we have purchase purchased dry foods for gifting our client for diwali
i csn get input on same
3 Replies
Mohit lodhi
(student)
(952 Points)
Replied 11 January 2019
No, you can not take the ITC on the same.
Vinod Babu
(24191 Points)
Replied 11 January 2019
Expenses relating to food, beverages and outdoor catering can be claimed as input tax credit only when inward supply of goods or services or both of a particular category is used by a registered person for making an outward taxable supply of the same category of goods or services or both or as an element of a taxable composite or mixed supply. Hence, regular taxpayers would not be eligible for claiming input tax credit on expenses relating to food, beverages and catering.
pritesh
(CA Final student)
(7101 Points)
Replied 12 January 2019
no you cannot claim
please refer sec17(5)
please refer sec17(5)
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