Purchase

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Anshuman Basu (Querist)
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25 June 2018 My company purchase Titan Watch, Money Purse, for Employee or Client for every Month. My question is Should We get ITC from this type of purchase.

Vishakha Kejriwal.

Vishakha Kejriwal. (Expert)
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26 June 2018 Goods given as gifts are ineligible credit in terms of Section 17 of the CGST credit and hence you cannot avail the credit.

Anshuman Basu

Anshuman Basu (Querist)
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26 June 2018 but Mam as per GST Law Diwali gift purchase is available in ITC. then why we not get ITC in our purchase. If These purchase we shaw as business/sales promotion then I get ITC?

Vishakha Kejriwal.

Vishakha Kejriwal. (Expert)
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26 June 2018 No gifts are allowed as ITC. Please refer Section 17(5)(h) of the CGST Act.

Anshuman Basu

Anshuman Basu (Querist)
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26 June 2018 Thanks Mam Pl Clarify Diwali Gift and Sale/ Business promotion?

Vishakha Kejriwal.

Vishakha Kejriwal. (Expert)
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26 June 2018 Both gifts would be ineligible for ITC.

Anshuman Basu

Anshuman Basu (Querist)
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26 June 2018 Mam we Could Not Found the Section 17(5)(h) of the CGST Act in Internet site. Pl. Enplane the rule so that we will produce the rule to our boss.
Our Boss is said you will treat as diwali gift or sales promotion in our books of account and take ITC

Vishakha Kejriwal.

Vishakha Kejriwal. (Expert)
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26 June 2018 Pl refer to the CBIC site for the GST laws/Act.

Anshuman Basu

Anshuman Basu (Querist)
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26 June 2018 Section 17(5)(h) Goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples - It is correct? If it correct then please clarify what is the meaning of "disposed of by way of gift"?
Mam we are not get the proper answer - Clarify Diwali Gift and Sale/ Business promotion

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