Itc of gift item
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2017
Dear Sir,
I have following queries regarding civil contractor -
1. Suppose a civil contractor purchased pressure cookers to distribute them among his labour as a gift. Whether contractor can claim itc of gst paid on purchase bill pressure cookers?
2. From which date gst rate from 18% to 12% would be deemed effective on civil construction ?
I have following queries regarding civil contractor -
1. Suppose a civil contractor purchased pressure cookers to distribute them among his labour as a gift. Whether contractor can claim itc of gst paid on purchase bill pressure cookers?
2. From which date gst rate from 18% to 12% would be deemed effective on civil construction ?
CA Rohit Sinha
(Expert)
21 October 2017
Suppose a civil contractor purchased pressure cookers to distribute them among his labour as a gift. Whether contractor can claim itc of gst paid on purchase bill pressure cookers?
Ans- Assuming labours are his employee, the amount of gift would be less than 50000/- per annum , it should not be a treated as supply and credit can be availed.
From which date gst rate from 18% to 12% would be deemed effective on civil construction ?
Ans- Notification No. 24/2017-Central Tax (Rate) is dated on 21st Sept 2017. Hence the rate would be applicable from said date.
Ans- Assuming labours are his employee, the amount of gift would be less than 50000/- per annum , it should not be a treated as supply and credit can be availed.
From which date gst rate from 18% to 12% would be deemed effective on civil construction ?
Ans- Notification No. 24/2017-Central Tax (Rate) is dated on 21st Sept 2017. Hence the rate would be applicable from said date.
Dr. ShamsheerKhan
(Expert)
21 October 2017
Incase you show a product for the sake of sales promotion advertisement expenditure then only you can take the ITC credit
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