GST on Giving away of asset for CSR
This query is : Resolved
07 December 2021
Company is giving away one of its asset to educational institution / university as a CSR Activity. Loss on its write off will be accounted as CSR expenses incurred. Will GST payable on transfer of asset.
Any Case Law ,
Thanks in advance.
Any Case Law ,
Thanks in advance.
07 December 2021
GST is not payable on the supply free of cost, however you need to reverse the ITC, if claimed, on such assets.
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