Dear All
Pls. let me know what is GST implication on FOC given in invoice in lubricant industry.
Regards
Neeta
3 Replies
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 02 May 2018
No GST on FOC as because there is no consideration.
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 02 May 2018
But anything given free the ITC has to be reverse in proportion as per section 17(5)
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 02 May 2018
Yes u are correct Mr. Rawat!
Recent Topics
- Property capital gain, Bought in 2002 and sold in
- TDS Implication on Expensing Off Unrecovered Invoi
- Where can i Declare landlord share in GSTR-1
- Change of name on physical share certificates of P
- Workmen compensation insurance policy
- GST Revenue at All-Time High - A Genuine Growth or
- TDS On Purchase of Property by Firm
- Gst missing invoice in return
- Discuss and Download CA Inter Question Paper May 2
- Discuss and Download CA Final Question Paper May 2
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
