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Free samples in pharmaceutical company
What is the treatment of free sapmples given by supplier to a party , how to account for it in GST?
Replies (5)
Full amount gst payable,
Supplier has to reverse ITC availed on free samples
No input tax credit on free samples.
In case of receipt no GST credit and in case of distribution as free Sample GST is payable
Ideally, I can see billing these @ Rs. 1/- + GST as a practise to keep a track and better manage in terms of accounting.
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