Radhakrishnan (Accounts Officer) (122 Points)
30 October 2020
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 30 October 2020
| Originally posted by : Radhakrishnan | ||
 |
what about purchase materials itc which are to be given to employees as Diwali gifts (each employee less than rs.50000 only per annum) |  |
If consideration is rec'd for supply than u can claim itc
Radhakrishnan
(Accounts Officer)
(122 Points)
Replied 30 October 2020
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 30 October 2020
| Originally posted by : Radhakrishnan | ||
|
It is not for supply. itc not allowed. thank you. | |
Yes correct a supply made to employees for less than 50000 is not supply as per schedule 3
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 30 October 2020
So no ITC can be claimed for same
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 30 October 2020
So no ITC can be claimed for same
Shivam RC
(Student)
(23683 Points)
Replied 30 October 2020
CAclubindia
