kindly advice whether gift given by the supplier to an institution as gift will attract GST and also whether ITC can be availed?
what if it is a form of sales promotion ?
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REG:Implication on outward tax and ITC on gift or free samples
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Its specfically blocked u/s 17(5) - Free samples and destroyed goods
No ITC is available for goods lost, stolen, destroyed, written off or given off as gift or free samples.
No ITC is available for goods lost, stolen, destroyed, written off or given off as gift or free samples.
Gift or free samples can not be termed as Supply...
Therefore no gst will be attracted.
Sec.7 read with Schedule I para 2
No ITC on free or samples.. Sec.17(5)(h)
Therefore no gst will be attracted.
Sec.7 read with Schedule I para 2
No ITC on free or samples.. Sec.17(5)(h)
thank you and congratulations
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