AVAILABILITY OF ITC
This query is : Resolved
Quick Summary
Pranab Kumar Saha
(Querist)
16 June 2020
Respected all,
Plz. advice/ clarify regarding itc.,A business concern gifted to a winner on coupon which given at the time of sale. whether business org. get itc on such items which were purchased for gifted to the winner.
Plz. advice/ clarify regarding itc.,A business concern gifted to a winner on coupon which given at the time of sale. whether business org. get itc on such items which were purchased for gifted to the winner.
CA R SEETHARAMAN
(Expert)
16 June 2020
It's in the nature of sales promotion expenses ITC can be claimed on such gifts.
CA R SEETHARAMAN
(Expert)
16 June 2020
AAR rulings are there no ITC can be claimed on such gifts.
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