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Input tax credit on New year diary purchased
We are giving New year diaries to our customers as part of business promotion. We purchased it on GST bill and giving it away to customers as gift (without bill). Can input tax paid on diaries can be claimed???
Replies (1)
No you cannot...
You cannot claim ITC on goods disposed off by way of "GIFTS" since it is specifically BLOCKED u/s 17(5) clause (h) of the CGST Act 2017.
You cannot claim ITC on goods disposed off by way of "GIFTS" since it is specifically BLOCKED u/s 17(5) clause (h) of the CGST Act 2017.
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