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ITC on gifts
Our company is manufature of bicycles.Company sale the goids to the customer along with some gift items like note pad,air pump etc.These gift items are delivered free of cost on delivery challan along with tax invoice of goods. My question is that either the company is eligible to take input credit of gift items that are delivered free with sale of bicycles . Kindly clarify?
Replies (1)
Input tax credit is not available on Gift Items , as per section 17(5) (h) of the CGST act 2017 .
please confirm with others also .
please confirm with others also .
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