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Discussion > VAT >

Vat on free gifts and gift coupons

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Chartered Accountant

[ Scorecard : 569] 		Posted On 26 March 2012 at 17:40 Report Abuse

Is Vat charegable for gift coupons sold by landmark, lifestyle Etc...

and also is vat chargeable on the value of free goods supplied along with the main product..

[Example Mazza Free with Lays Chips Family Pack]

please tell how it is done as your state vat act...

 

Sunil Kumar G
Senior Taxation Manager

[ Scorecard : 324] 		Posted On 10 April 2012 at 16:44

VAT is applicable on sales value. If you sell any free goods as Free of Cost, value is zero and no VAT is applicable.

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