a seller is into the business of selling Type A product. to promote the sale of Type A product he is offering Type B product for free. seller makes a single bill in which both the products are mentioned in which type B is shown as zero. will seller need to reverse ITC on Type B?
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GST ON GOODS GIVEN AS BUSINESS PROMOTION
Replies (2)
Quick Summary
Yes, The ITC will be reversible.
ITC in respect of free sample is required to be reversed in terms of Section 17(5)(h) of the CGST Act, 2017.
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