27 May 2017
Sir,as per GST scenario our Product selling rate of tax under GST falls under 18% tax Slabe.and as per Current scenario My client gives some promotional gifts items (I.e key chains,bags etc.along with Material. and under GST above said Gifts Item falls under 28% slabe.now question is what would be rate of tax of product under Mix supply (i.e 18%----28%) and also pls advise the solution of sending the free gifts items to customers.
28 May 2017
dear Manish,
supply of gifts items would not be treated as a taxable supply by you. you'll merely expense it out and claim ITC on the same since it is for furtherance of business.
CAclubindia
