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ITC on gifts
Is GST Input available on diwali gifts purchased for employes and clients?
Replies (2)
Goods disposed of by way of gift or free samples is not eligible to take ITC as per section 17(5) of CGST Act.
As per the Provision of SECTION 17(5) (h) of the Central Goods and Services Tax Act 2017 :
h] "goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples".
Hence, ITC is specifically Blocked for goods distributed as Gifts to employees....
Regards.
h] "goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples".
Hence, ITC is specifically Blocked for goods distributed as Gifts to employees....
Regards.
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