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ITC on distribution
In one the client they have purchase certain goods and than distributed to local people as a social welfare expense than on those goods gst credit is allowed or it should be expensed to p/l.
Replies (16)
Quick Summary
Expensed to P& L. No ITC available on such items.
Expense it as no ITC on such goods can be availed.
No ITC is not available in this case
Itc won't be available in this case. however you can claim it as an expense in p n l
No ITC claim for the expenses only
No.... iTC is block on free supply u/s 17(5)
The information displayed here is wrong.
One is Nature of supplies not yet rated.
Whether gst is applicable or not that is also not certain.
One is Nature of supplies not yet rated.
Whether gst is applicable or not that is also not certain.
What goods -Exempted /Taxable?
How can you say blocked credit.
Sec 17(5) is applicable in the following cases.
Sec 17(5) is applicable in the following cases.
ITC is blocked
No ITC section 17(5)
Nature of goods needs to be mentioned by the query string.
It is blocked
GST credit is not allowed if you distribute the goods as free samples. In this case since no consideration was paid, the seller cannot claim input tax credit ( ITC ) of such inputs
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