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 Threads
- Rcm invoices and normal invoice
- Regarding STCG on Equity
- GSTR 9 details with same PAN & different Turno
- Hotel ITC
- ITR for Trust- 12A
- Proprietorship to Pvt Ltd - Is Slump Sale / BTA ma
- Pan and Aadhaar Link Issue
- Fund Transfer to Foreign Country and TCS provision
- ITR updated return
- Company change Status from CIRP into Active
Related Threads
CAclubindia
