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ITC on capital goods
My doubt is if i had transfer such capital asset as free sample or free of cost on which itc has been taken and the same would be treated as supply and whether the further itc would be allowed to the purchaser....
Replies (7)
If the supplier provides an invoice for such supply after charging GST then the recipient can avail the credit subject to restriction under section 17(5)
If the supplier provides an invoice for such supply after charging GST then the recipient can avail the credit subject to restriction under section 17(5)
yes it comes under the scope of supply with no consideration here fixed asset transferred where ITC has been availed
The Asset will be given FOC then no way for claim ITC.
Seller (who is given it free) will pay GST in his pocket...
Seller (who is given it free) will pay GST in his pocket...
No you cannot claim itc.. on that...and on tranfer of asset no need to charge gst in absence of consideration
Good Mr Pritesh...
I strongly suggest you to be done by the point
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