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Giving gift to customers from sale item

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(Querist)
21 February 2021 I purchased some items for selling. and I claimed GST against the purchase. Now I want to give one item to my regular customer as Gift.
1. Do I have to raise sale Invoice? If Yes, What do I have to Debit ? becoz I dont receive Money for it.
2. If No, How to release this item from my inventory?
3. Do I have to reverse the GST?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
21 February 2021 Release it as gift no tax invoice required reverse ITC claimed on it.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
22 February 2021 1. No 2. Nothing to do. Deduct the value from purchase



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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
22 February 2021 3. Reverse the GST as per Sec 17(5)
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Abdul Basith

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Abdul Basith (Querist)
25 February 2021 Do we receive any acknowledgement from customers ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 February 2021 No need for any acknowledgement.

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