Is input on Diwali sweets
allowed
Menu
Input on Diwali sweets
Replies (4)
No...
No
you can not claim ITC on Diwali sweets blocked by section 17(5)
you can not claim ITC on Diwali sweets blocked by section 17(5)
Thanks sir
Input Tax Credit ( ITC ) on Goods distributed as Free Samples, Gifts, destroyed or written off is specifically BLOCKED U/s 17(5) clause (h) of the CGST Act 2017.
Hence ITC on Diwali Sweets distributed to your employees, clients, relatives etc is not allowed. You have to reverse that ITC.
Hence ITC on Diwali Sweets distributed to your employees, clients, relatives etc is not allowed. You have to reverse that ITC.
Recent Topic
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
Related Topics
CAclubindia
