Input on Diwali sweets

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Accounting
27 Points Posted on 20 November 2020
Is input on Diwali sweets
allowed
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On 20 November 2020 at 12:02 Report
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Quick Summary
This discussion clarifies the rules regarding Input Tax Credit (ITC) on Diwali sweets distributed as gifts or free samples. Under Section 17(5)(h) of the CGST Act 2017, ITC is blocked for goods given away freely, including Diwali sweets. Therefore, businesses cannot claim ITC on sweets distributed to employees, clients, or relatives and must reverse any previously claimed ITC.

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709 Points Posted on 20 November 2020
No...
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On 20 November 2020 at 12:07
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Accountant
3662 Points Posted on 20 November 2020
No

you can not claim ITC on Diwali sweets blocked by section 17(5)
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On 20 November 2020 at 12:28
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Accounting
27 Points Posted on 20 November 2020
Thanks sir
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On 20 November 2020 at 12:29
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Student
23693 Points Posted on 20 November 2020
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.
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On 20 November 2020 at 13:22

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