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Input credit on promotional items
We are suppliers of Industrial paints. We gave T Shirts on which name of our company and name of our product are fixed and will give to our clients as business promotion. We purchased it by paying igst. Can we claim input of that?
Replies (4)
No... You can't claim ITC for that.
y itc can't claim sir, explain
@ Mr Srikumar.,
See Your reply in this link...
https://www.caclubindia.com/forum/itc-on-vehicle-purchase-491634.asp
What You said in that link...?!!!
That's not in the Query...
See Your reply in this link...
https://www.caclubindia.com/forum/itc-on-vehicle-purchase-491634.asp
What You said in that link...?!!!
That's not in the Query...
I am of the opinion that items which were meant for supply for consideration but were given without any consideration fall under 17(5)... like items donated, or items given as gift to employees or consumed by the proprietor etc
But were the purpose of the goods was for distribution only, ITC should not be reversed
Promotinal Items , Brand development expenses are a primary business expenditure in present day scenario
But were the purpose of the goods was for distribution only, ITC should not be reversed
Promotinal Items , Brand development expenses are a primary business expenditure in present day scenario
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