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?
Menu
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.
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
