Itc on gst paid for free sample
This query is : Open
Rajinder Singh
(Querist)
16 September 2017
I have purchased bags by paying GST. I want to distribute this as Diwali Gift.
Now as it is distributed free of cost then can I take ITC on tax paid. Pls specify the laws related to this.
Now as it is distributed free of cost then can I take ITC on tax paid. Pls specify the laws related to this.
Vishakha Kejriwal.
(Expert)
16 September 2017
ITC is not eligible on goods given as gifts (Section 17 (5) of the CGST Act).
16 September 2017
No...
ITC can't available for free goods. Also you took it at the time of purchase you ll revise the ITC amount....
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