Diwali expenses
This query is : Resolved
13 October 2017
Hi sirs,
We bought gifts for distribution to our clients/staffs. My question: -
1. If in invoice, GST is included - Whether can we take input of GST?
2. If in invoice, GST is not included - Whether we are under obligation to pay under RCM? If yes, can we take input?
Thanks in advance
We bought gifts for distribution to our clients/staffs. My question: -
1. If in invoice, GST is included - Whether can we take input of GST?
2. If in invoice, GST is not included - Whether we are under obligation to pay under RCM? If yes, can we take input?
Thanks in advance
13 October 2017
Yes...
You can take input ITC for the Taxable Invoices...
From URD purchase (if purchased on September) you don't want pay tax under RCM basis for issued to Staffs. But, you want pay tax under RCM basis to clients compliments....
31 October 2026
ITC on gifts to clients and staff is blocked under Sec 17(5)(h) even on a taxable invoice, and under current law RCM on purchases from unregistered suppliers u/s 9(4) applies only to specified real-estate promoters, so no RCM arises on gift purchases.
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