Ineligible input tax credit

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 07 March 2019

Please refer section 17(5) of CGST act...
You can get exact solution.

aniket shahapurkar

8 Points Posted on 07 March 2019

no sir I'm getting confused after reading 17(5) so I'm asking you

satish Motipalli

Student CA Final

119 Points Posted on 07 March 2019

Because same is treated as outward supply and you have pay tax on such transaction so Department is allowed ITC on any inputs which are used for making outward supply.
Thank you

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 07 March 2019

Staff Welfare related Input Tax can't be taken as ITC. It's blocked ITC also based on Gift to Employee...

Shivam RC

Student

23693 Points Posted on 07 March 2019

As per the Provision of Section 17(5) clause (h) of the CGST Act 2017, goods distributed as GIFTS is BLOCKED.

Sakshi Mehta

-

252 Points Posted on 09 March 2019

no cannot be treated as such transfers are not covered under scope of GSt

Priya Kashyap

Student

7053 Points Posted on 09 March 2019

gifts made to employees come under furtherance of business, hence eligible for ITC

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 09 March 2019

NO... ITC NOT ELIGIBLE.

Priya Kashyap

Student

7053 Points Posted on 09 March 2019

since gift made to employees come under furtherance of business like to sustain the business , sir
it can be claimed under ITC

CA.Pankaj Rawat

Chartered Accountant

1381 Points Posted on 09 March 2019

As per section 7 of CGST Act gift exceeding 50000 is treated as supply and liable to gst. Itc on such gift is not available due to block u/s 17(5)

subhagan sreerangam

7059 Points Posted on 10 March 2019

CGST Act Section 7 explain gift abovy ₹50000/ - treated as supply and liability to GSt.Then ITC of such not allowed under section 17(5) of the CGST Act.