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Itc of gift item

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Querist : Anonymous

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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 ?
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CA Rohit Sinha

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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.

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Dr. ShamsheerKhan

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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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