Gift to customer and dealer

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402 Points Posted on 03 October 2020
I am purchasing gold coin and other product for promotion of sales and hence in this thing i am giving it to customer so can i Treat it as expense in book and can i claim GST on this as its sales promotion Expenses.
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On 03 October 2020 at 12:59 Report
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Quick Summary
This discussion explores the tax implications of providing gifts to customers and dealers as part of sales promotions. It addresses whether these promotional items can be treated as business expenses and if the Goods and Services Tax (GST) can be claimed on them. The advice given suggests that if items are supplied free of charge, input tax credit (ITC) generally cannot be claimed.

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7 Points Posted on 03 October 2020
Transfer of business asset after claiming ITC without consideration would be treated as supply
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On 03 October 2020 at 13:17
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Tax and Business Consultant
11616 Points Posted on 04 October 2020
If you are supplying it's free of cost, than you can not claim ITC on same...
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On 04 October 2020 at 08:56

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