Dear all,
We are engaged in manufacturing of machine parts, We purchase Raincoats, Staplers, steel bottle etc to gift our Distributors.
I am giving this gift by way of two method
1) I am mentioning this in my invoice but against which putting value 0 along with machine parts bill
2) Making bill of supply for gift
whether GST ITC will be allowed or not in both cases...?
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Block Credit ?
Replies (2)
Quick Summary
No itc will nit be allowed.
No ITC won't be allowed in such transactions as it is blocked as per sec 17(5) of CGST Act, 2017.
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