Dear sir,
we can claim itc on purchase of gifts for employees
8 Replies
CA Aravind Penugonda
(Chartered Accountant)
(311 Points)
Replied 16 May 2019
Not available in view of Section 17(5) of the CGST Act, 2017
Padmanathan Kv
(2127 Points)
Replied 16 May 2019
also if value of gift exceeds 50000 it will be taxable in view of proviso to clause 2 of Schedule I read with section 7 of cgst Act
Shivam RC
(Student)
(23683 Points)
Replied 16 May 2019
By virtue of Section 17(5) clause (h) of the CGST Act 2017, ITC on GIFTS is Blocked.
Hence you cannot claim ITC on GIFTS.
Hence you cannot claim ITC on GIFTS.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 May 2019
Yes... I agreed to alll the above said replies...
ITC not available for the gift purchase to give as gift to Employees.
ITC not available for the gift purchase to give as gift to Employees.
Latest Movie&Funs
(154 Points)
Replied 16 May 2019
you can't claim ITC on gift . but you, value of ITC put into all other ITC 4a(5) and also put into 4 b (2).
CA Shikha Sharma
(Ceo)
(3869 Points)
Replied 17 May 2019
no not allowed as doesn't qualify as supply
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