business promotion: my Sir client gift given to salesman and customer
he can get ITC.
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 December 2018
No... ITC not available.
Shivam RC
(Student)
(23683 Points)
Replied 04 December 2018
No....
INPUT TAX CREDIT ( ITC ) is not available in case of GIFTS given to Customers or Salesman since it is specifically BLOCKED u/s 17(5)(h) of the CGST Act 2017.
EXTRACT from the ACT :
(h). "goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples."
INPUT TAX CREDIT ( ITC ) is not available in case of GIFTS given to Customers or Salesman since it is specifically BLOCKED u/s 17(5)(h) of the CGST Act 2017.
EXTRACT from the ACT :
(h). "goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples."
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