Input tax credit blocked list under sec 17
This query is : Resolved
05 October 2017
Sir... I have a doubt regarding input tax blocked on gift items. Suppose now a company is purchasing some jewels or clothes for giving that one as a gift. Now can the company claim input on that purchases ?
05 October 2017
This is for Service Receiver........
05 October 2017
No he cant claim ITC on such goods.
However gift is given for business purpose & not covered in exception u/s 17(5) then you can claim ITC.
05 October 2017
Mam... can you give me some example to distinguish of gifts which can avail itc and who can't avail itc ?
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05 October 2017
Gifts purchased for gifting to employee on occasion like b'day anniversary not allowed...
If gift is given as sample for advertisement purpose to promote business then allowed.
06 October 2017
So.. If a hospital enterprise purchases gifts like sarees or mobiles to outsiders , in such a case can that hospital avail ITC?
06 October 2017
No then it cant.
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06 October 2017
Thank you mam... for your help.. Its very useful ...
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