Dear sir/Madam,
As in Private Limited Company if director given a gold chain to his Employee as a gift for his best contribution to running his business in this case can he avail input tax credit on such gold purchase bill?
please clear
thanking you.
Menu
ITC on gift of Jewellery
Replies (2)
No...ITC is available for goods or services used in the course or furtherance of business
also it's available only when there is contractual obligation to do so......... itc for the above is not available....
Recent Threads
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
Related Threads
CAclubindia
