GST on Gift purchase
Juned Ahmad (Accountant) (111 Points)
07 June 2022
Can I take ITC in Cloth/ Gift Purchase
2 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 07 June 2022
No , You Can not take input tax credit on Gift purchase , as it is blocked credit as per section 17(5)(h) of the CGST act 2017.
sabyasachi mukherjee
(27734 Points)
Replied 07 June 2022
No it's not intended to be used for furtherance of business.
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