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ITC claim -reg

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Student
663 Points Joined July 2017
Dear frds/ experts,

If a company issues a silver gift worth abt Rs.10,000/- to their staff, Do they eligible to claim that gift's ITC??
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On 22 October 2020 at 17:18 Report
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a
1620 Points Joined November 2010
Not eligible
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On 22 October 2020 at 18:07
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Student
23688 Points Joined November 2017
As per the Provision of Section 17(5) clause (h) of the CGST Act 2017, Input Tax Credit ( ITC ) is specifically BLOCKED on Goods distributed as "Gifts" or Free Samples.

So the Company is not eligible to claim the ITC on GST component of Rs. 10,000 Silver Gift given to their staffs.
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On 22 October 2020 at 22:59
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Student
663 Points Joined July 2017
Ok thank you....In case, if the company purchases a silver show piece article for their office??
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On 23 October 2020 at 08:17
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BUSINESS DEVELOPMENT MANAGER
1697 Points Joined February 2019

the company is not  eligible to claim that gift's ITC

 

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On 23 October 2020 at 12:56
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Student
663 Points Joined July 2017
Thank you all
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On 23 October 2020 at 17:22

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